A recent Detroit Future City study came across my desk a few weeks ago entitled “The State of Economic Equity Detroit“, co-authored by Anika Goss, who is a treasured colleague and former MWF Board Member. It spurred an important conversation on our team and I wanted to share it with you.
The study’s findings tell a story about what we have been noticing for years-not just in Detroit, but across Michigan. While there was a rebound and renaissance for entrepreneurs following the Great Recession, the opportunity for economic prosperity did not reach all Michiganders. When COVID-19 hit, it laid bare racial and gender wealth inequities 400 years in the making.
Women of color sit at the complicated intersection of the racial and gender wealth gaps. For a woman of color who wants to start a business, systemic barriers block her success regardless of her passion, intelligence, or great business idea. The most limiting barrier for women entrepreneurs of color is applying for and obtaining capital.
MWF wants to be part of changing this story.
Our team is committed to focusing our attention on creating innovative entrepreneurial initiatives that put women of color at the center. This is an imperative shift in our approach, and we know it is necessary if we truly want to level the playing field for all women in Michigan.
Please pay attention to our upcoming work and learn about the new programs being offered across the state, such as our upcoming Demystifying the Business Plan for Microenterprises event coming up soon. All of us are critical to building a more inclusive economy, and we ask you to hold us accountable in this work. We certainly can’t do it without you!
Gratefully,
Carolyn Cassin
SAVE THE DATE: September 29
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