The Road is Harder for Some
The path to small business success is different for every entrepreneur. For some, access to small business funding and key resources is challenging. For others, increasing business knowledge is the key to success. Whatever the needs, SCORE offers free mentoring, education, and resources to make the path to success easier and more direct.
Black-owned business operations were more significantly disrupted by COVID-19. They were more likely to seek – but less likely to receive – both outside and government funding.
Compared to White business owners, Latinos were more likely to report tapping into their personal savings, using business and personal credit cards, soliciting loans from banks, and taking out home equity loans.
Asian-American and Pacific Islander business owners are least likely to have experienced signs of recovery and expect a longer road to recovery than White or Hispanic peers.
The weighted average approved amount of women-owned businesses ($41,304) for PPP applicants across all SBA lending platforms was 47% less than the same for men-owned business ($78,229).
Small businesses with fewer than 50 employees provide 42% of all jobs in rural America. Although rural entrepreneurs face challenges, rural communities are becoming more diverse and innovative, which is good news for small business owners.
Women entrepreneurs are a growing part of the U.S. economy. SCORE offers women entrepreneurs key resources to build on their strengths and provide new avenues to success.
Hispanic small businesses are an integral part of the U.S. small business economy. Find resources in both English and Spanish to support current Hispanic business owners and further Hispanic entrepreneurs.
Black entrepreneurs have a rich history as successful small business owners. Resources for black entrepreneurs range from start-up materials to finance and funding resources.
Military veterans find successful second or third careers through small business ownership. SCORE resources help veterans capitalize on their military experience with complementary small business resources.
Asian-American, Native Hawaiian and Pacific Islanders (AANHPI) own one in 10 American businesses. Highly reliant on self and community, their work ethic produces the highest average small business receipts of any ethnic group.