The nation’s workforce is fast evolving when it comes to diversity, but one key demographic of professionals lags behind: entrepreneurs.
According to research from Elizabeth MacBride and Seth Levine, authors of the 2021 book The New Builders: Face to Face with the True Future of Business, white men are no longer the majority of business owners in America.
While more women and Latinx-owned businesses have been cropping up in recent years, there is an important caveat to this assertion. The percentage of employer businesses, those that employ a staff outside of a founder, is still white male dominant at 60%. Just as recently as 2020, more than half of new entrepreneurs were white, according to a study from the Ewing Marion Kauffman Foundation.
