The wealth gap between African Americans and Hispanics and...
The wealth gap between African Americans and Hispanics and other Americans can only be bridged through innovation, education and entrepreneurship, said panelists at a Minority Media and Telecommunications Council conference Tuesday. Representatives of government agencies and the Senate Small Business…
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and Entrepreneurship Committee spoke about access to capital, federal contracts and counseling and mentoring as important steps to address the wealth gap. “Through business ownership, we have an opportunity to build wealth,” said Jane Campbell, majority staff director for the committee. There needs to be an “increased focus on entrepreneurship, and we need to have support for industries across the board,” said Marie Johns, ex-Small Business Administration deputy administrator. Disparities in broadband adoption contribute the wealth gap, said Maureen Lewis, NTIA director-minority telecom development. “The administration is focusing on broadband in the home because it enables so many things that aren’t convenient or appropriate to do in public settings. It’s important for everyone to be connected at home.” Minorities need to have access to education and entrepreneurship to get involved in the tech sector, said Campbell. “We need to get African Americans fully in the conversation about technological development and have access to the capital to move them forward.”