The Black Wealth Gap is worthy of discussion, especially considering generational wealth compounded with longer lifespans. Consider the cost of 1) homeownership, 2) health, and 3) retirement planning. Under the three categories, it is essential to consider economic planning and the strategies for sustainable success. One such plan is entrepreneurship. The ability to slow down the gap in wealth through entrepreneurship, investment in a business, or acquiring a company is a means to wealth.
The ability to invest, buy or create businesses within the Black community can drive and deliver economic development and wealth to produce jobs exponentially, leading the way for financial capacity within the Black community. Further, entrepreneurship can secure a legacy for the family by creating succession planning.
Entrepreneurship and strategy can be a plan for the first retirement or pivot from a current position. The ability to lead your path to economic success is inviting to some and risky for others. But for those who seek the entrepreneurial way is a journey for delivering a financial upside with unlimited potential with the right mix of leadership, niche' industry, and faithful purpose.
Learn more about the Cincinnati Minority Business Accelerator growth and acquisition support for business acquisition.