Why do you focus on Black and Brown entrepreneurs specifically?

We believe entrepreneurship and business ownership are how we build an economy that works for everyone. There are over 26 million business owners in the United States. Of these, over 6.5 million are Black and Latine. Overall, 81% of all businesses in the U.S. are sole proprietors, yet 96% of Black and 92% of Latine business owners are sole proprietors. The revenue of sole proprietors by race/ethnicity breaks down to White and Asian businesses earning an average of $48,000, Latine businesses earning $36,000, and Black businesses earning $22,000 annually. In California, there are 3.4 million sole proprietors and of these, over one million, nearly one-third, are Black and Latine.

These numbers tell us that Black and Latine entrepreneurs aren’t creating jobs and opportunities for the broader community because we are not building employer enterprises on par with other wealthier racial groups.

To receive the lasting impact of entrepreneurship and ownership, our fellow entrepreneurs have to create businesses that grow beyond self-employment and instead become assets that grow in value over time. Our shared passion at ESO Ventures is to drive racial and economic justice through business creation, ultimately building more inclusive economies.