President Joe Biden argued that black entrepreneurs needed more assistance from the federal government because many did not have accountants or lawyers.
“The data shows young black entrepreneurs are just as capable of succeeding, given the chance, as white entrepreneurs are, but they don’t have lawyers, they don’t have accountants, but they have great ideas,” Biden said.
The president spoke about black business owners during a speech recognizing the 100th anniversary of the Greenwood Race Massacre in Tulsa.
Biden said he would focus more on small business loans to help black-owned businesses grow.
He also announced that the federal government would use more of its purchasing power to support “disadvantaged businesses” including those owned by “black and brown” Americans.
“I have the authority to do that,” Biden said.
Biden also said he wanted to invest more federal research money into Historically Black Colleges and Universities.
“The reason why they don’t … their students are equally able to learn as well, and get the good-paying jobs that start at 90 to 100 thousand bucks,” he said. “But they don’t have the money to provide and build those laboratories.”
He also promised to spend more on infrastructure in minority communities.
“Let’s ensure access to health care, clean water, clean air, nearby grocery stores that are stocked with fresh vegetables and food,” he said. “I mean, these are all things we can do.”
Story cited here.