Dallas is known for its diversity and that extends to the business sector, as the Dallas-Fort Worth area leads the nation with the most minority-owned startups, and the state of Texas ranks No. 2 among best states for Black entrepreneurs. The disruptions of the past year have cast a spotlight on the unique hurdles that Black business owners face, in Dallas and beyond, including lack of access to capital, financial education and networking opportunities.
The JPMorgan Chase Institute recently reported that Black-owned businesses often face lower revenues, profit margins and access to cash, and are underrepresented among companies that have external financing, so it is no surprise the DFW region was hit particularly hard by the coronavirus pandemic.
As many businesses continue to recover from the events of last year, there are several actions that Dallas Black business owners can take to begin to overcome some of these challenges and
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