Small Business Real Estate Can Narrow the Racial Wealth Gap – Bloomberg
In its plans to narrow America’s persistent racial wealth gap, U.S. President Joe Biden’s administration has focused largely on homeownership — and for good reason. Historic government policies and banking practices, such as redlining, denied communities of color access to this important wealth-building tool.
But homes are not the only kinds of property that have been affected by discriminatory government and private policies. Commercial property ownership has been hampered, too. And helping small businesses owned by people of color purchase property rather than rent is an overlooked way to help businesses thrive and address the gap.