The Racial Wealth Gap and Our Solution

The Problem: The Racial Wealth Gap

There are major gaps in entrepreneurship. Under-resourced entrepreneurs struggle with lack of access to networks, relationships and opportunities.

There are many factors contributing to the racial wealth gap. Generations of historical policies and legislations, socially segregated networks and internalized racial narratives have been translated as advantages and disadvantages passed down through generations. These advantages and disadvantages often inform the starting points of Black and Brown entrepreneurs when they start their businesses. 

Individual actions will not be in themselves enough to make change.

To really get at closing the gap we need to have structural, systemic impact,
one that involves entire business ecosystems.

What is WEBB Squared?

WEBB Squared is an incubator-accelerator that helps Black and Brown entrepreneurs navigate the external challenges and shift the internal challenges by providing support and access in the following areas:

  • Information & Training
  • Networks & Connections
  • Resources & Capital

Our Solution:

Business data from the research-based company McKinsey & Company has projected that the Black-White wealth gap in the United States will cost the economy $1 trillion per year by 2028. Studies also indicate that black businesses achieving revenue parity with White businesses can become key components in closing the racial wealth gap.  

While there are incubator-accelerators that focus on Black and Brown entrepreneurs in urban cities, there are few to none working to support Black and Brown entrepreneurs in predominant rural counties in North Carolina.

WEBB Squared is here to help these entrepreneurs succeed and create profitable Black and Brown businesses that will benefit rural communities and their economies.

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