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How Underserved Entrepreneurs Can Fight Against the Odds to Succeed

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How Underserved Entrepreneurs Can Fight Against the Odds to Succeed

Starting a business is terrifying.

There are numerous hurdles you’ll face in your first year, from suppliers letting you down, to unhappy clients, losing staff, and much more.

It’s no surprise that 20% of small businesses fail in their first year according to the Bureau of Labor Statistics. (The numbers only get worse in years two, three, and beyond)

Even after running my own business for over a decade, the bumps and bruises keep coming. Let me tell you, they still hurt.

Some days I feel like giving up…

Of course, I’m lucky enough to have made it over the hump. The lessons I learned from near failure in years one, two, and three are the very things that drive me to continue on today.

Unfortunately, as the statistics confirm, most people don’t make it that far. And there are segments of our population that face additional roadblocks to success. Especially compared with me, a white male entrepreneur, who like it or not… has a better pathway to opportunities that keep my business running, such as finance.

The global pandemic has only accelerated this gap, with African American-owned businesses closing their doors at twice the rate of their white counterparts.

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