CLAIM: “We have an entrepreneurship gap in America. And that is a gap between white entrepreneurs and black and Latino Entrepreneurs. And the principal reason for this is they don’t have the money for equity to get the businesses started.”
Sen. Elizabeth Warren said during Wednesday night’s Democrat debate in Las Vegas, Nevada, that Latino and black entrepreneurs are failing to start businesses at the same rate as their white counterparts.
The claim is false, according to data released last October from Congressional Joint Economic Committee Vice Chair New York City, Democratic Representative Carolyn Maloney, and Congressional Hispanic Caucus Chair Texas Representative Joaquin Castro.
Their report noted:
The rate of new entrepreneurs in 2017 was much higher for Latinos than for any other racial group—Latinos are 1.7 times more likely to start businesses.
Less than half of Hispanic families own their own homes (47 percent), compared to almost three quarters of white families.
Additionally, Yahoo News reports:
According to the U.S. Census, Asian-American-owned businesses have increased since 2007 by nearly 30%, to 1.9 million in 2012. According to the U.S. Hispanic Chamber of Commerce, Hispanic-owned businesses totaled 4.4 millionlast year, a 33% increase from the 3.3 million highlighted by the Census in 2016.
Jerome Hudson is Breitbart News Entertainment Editor and author of the bestselling book 50 Things They Don’t Want You to Know. Order your copy today. Follow Jerome Hudson on Twitter and Instagram @jeromeehudson