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 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?
WE are a NC non-profit created to address and close the racial wealth gap by providing a thriving ecosystem that supports black entrepreneurs living in rural North Carolina. We have developed powerful programs to help these entrepreneurs succeed.
We are also building a strong ecosystem for Black entrepreneurs that includes equity minded coaches, service providers, investors, professionals and social pioneers who are intentional about collectively working together to create pathways for wealth building enterprises of Black entrepreneurs.
A Race Informed Ecosystem
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.
WEBB Squared provides an infrastructure that can mitigate some of the structural obstacles that Black entrepreneurs face by providing support and expanding access in the following areas: 1. Information and training 2. networks and connections 3. resources and capital.