The State of Diverse Suppliers
For many, entrepreneurship is the American Dream. Everyone loves a good “bootstrapping” story and nothing demonstrates that more effectively than taking an idea and turning it into a growing, thriving enterprise and creating wealth for the entrepreneur and employees. For millions of Americans, starting and owning a business has been the route to success, security, and providing for one’s community. This is particularly true for people of color, who face disparate unemployment rates and obstacles breaking through the “good old boys network” to secure good, stable jobs.
An economic downturn or recession might not seem like the most opportune time to start a business, but depending on the type of business, a recession can actually be the ideal time to take the plunge and launch a new company.