The Challenges Small Businesses Face In today’s America.
Welcome to an NJSBDC at NJCU School of Business We are America’s New Jersey Small Business Development Center’s Network (NJSBDC)
Minority construction contractors face a significant number of challenges that can hinder their growth and success in the industry. These obstacles often stem from historical biases and systemic issues.
Black-owned businesses: Nearly half (specifically 47%) of Black business owners who apply for a loan are denied. In a 2021 survey, 46% of Black-owned firms that applied for financing received none of the financing they sought.