We’re here to be loud about Black economics. It’s time to win for everyone- TOGETHER.
"Individual-level factors are simply not the explanation for the difference in the economic fortunes of Black and White people.
Even when Black people have advanced degrees, own their home, have high paying jobs and engage in other behaviors associated with asset building, their wealth is typically much lower than White peers.
Instead, the racial wealth gap should be recognized as the consequence of discrimination, public and private, throughout American history and continuing to this day."
- The Brookings Institution, 2020
Did You Know?
The Black-White wealth gap is astronomical.
Avg. net worth of Black households: $24,000 vs. $189,000 for White households. - Survey of Consumer Finances 2021
Black-White wealth disparity has persisted throughout generations, regardless of households' education, marital status, age, or income. - The Center for American Progress, 2018
The average Black household with a college degree is only earning about 70% of White households without them. - Pew Research Center 2016
Among the richest 10% of American households, only 1.9% are Black. - The Brookings Institution, 2020.
The Black-White wealth gap is a multi-trillion-dollar systemic issue -- not an individual problem. - The Center for American Progress, 2021
The response to this problem must also be systemic -- starting at the community level (more businesses, homes, Black-owned banks, and investors) and ultimately rising to the political (laws, policies, national agendas).
Our ‘why’ should be obvious.
The Black-White wealth disparity in America is staggering and unacceptable. It has only worsened with economic blows like the global pandemic of 2020 or the 2008 recession.
We cannot afford to keep working in silos or believing that educations or jobs, alone, are enough to protect Black families. Not while college-educated Blacks are earning less, on average, than non-degreed Whites. Not while Black elders, on average, are retiring with only 10% of the wealth of their White contemporaries.
To add to it, we simply don’t have the luxury of time and resources to empower us to build long-standing businesses. Without access to strong networks and flowing capital we struggle to make ends meet and sometimes to even pay ourselves. Technology is rapidly evolving and we’re positioned to either fall further behind, or to take action and build how we know how— together for us and by us.
We grew tired of all the programs, the hoops, the long climbs to nowhere just to try to do business. So we decided to just do what we do best— connect Black entrepreneurs with money and opportunities, period. We’re working hard to keep things simple for you, too.
Economic action is required -- now. BLINC is starting at the level of generational wealth and entrepreneurship -- clear areas of need and true vulnerability for most Black American households -- but trust, our story doesn’t end there.
Join us and let’s build.