Philadelphia is very diverse, but stark disparities position
various groups at a severe economic disadvantage.
Income inequality is a major issue across the country, but Philadelphia stands out for its wealth gap.
Despite being the most populous racial group in Philadelphia, Black people own less than 3% of the businesses in the city. Hispanic ownership is also disproportionately low.
Zooming into the accommodation and food services industry, we also see male-owned private enterprises dominating by a significant margin.
Given these disparities, Americans have demonstrated heightened commitment to consuming with purpose. People are purchasing with intentionality to direct their dollars to communities who need them the most. Buying from MWBEs supports the battle for equity, fortifies our local economies, and celebrates the distinct cultural heritages that compose our country.
As the Black Lives Matter movement gained widespread attention during the summer of 2020, many Americans made an effort to support Black-owned businesses in particular. Google search trends reveal that much of the momentum has been lost since then.
