Black entrepreneurs are everywhere.
In the books, films, and media, they are depicted as some of the smartest, most driven, and most innovative entrepreneurs out there.
However, the books are riddled with inaccuracies.
Here are 10 of them.1.
They are a subset of white, affluent, white, male entrepreneurs.
Black entrepreneurs often face obstacles in getting to the top of their fields.
As a result, they have less opportunity to succeed than white entrepreneurs.2.
They have fewer degrees.
Black people tend to have less formal education, with only a high school diploma being required for entry into a university.3.
They make less money than white people.
Blacks tend to earn less than their white counterparts, with less than one-third of blacks earning more than whites.4.
They do not attend college.
Black students have higher graduation rates, but they have lower retention rates.5.
Black women are less likely to get married.
According to the Bureau of Labor Statistics, white women marry at a rate five to seven times higher than black women.6.
They tend to work in fields that pay less.
Black men tend to start in a field that pays less than white men.7.
They can’t afford college.
According the Bureau, blacks tend to end up with a college degree, but whites are less reliant on it.8.
They live in poverty.
Black families have higher poverty rates than whites, and black men and women are more likely to live in families that are below the poverty line.9.
They earn less.
According a study published in the American Journal of Sociology, the median hourly wage for African American men is $1.23 while the median for white men is about $1,800.10.
They’re less likely than whites to get health insurance.
Black adults are less than 1 in 5 of the population has health insurance coverage, according to the CDC.11.
They struggle to pay for college.
The average black student spends $20,000 more per year on college tuition than a white student, according the Bureau.12.
They don’t have a great deal of savings.
Black parents have lower net worth than white parents, and their median household wealth is less than half that of their white peers.13.
They face significant obstacles to landing a job.
According an article published by the New York Times, “Nearly half of African American college graduates find themselves unemployed after graduating from college.”14.
They use their entrepreneurial spirit to create jobs.
Black college graduates are more than twice as likely as white graduates to take part in “entrepreneurship” (the act of working toward a company’s goals) and “creative work” (working in the creative industries).15.
They prefer to take a “soft” path.
Black graduates are four times as likely to have a job with a low hourly wage than white graduates, according a study by the Economic Policy Institute.16.
They find it easier to make a salary.
According one study, Black graduates of public schools earn about 40 percent less than those of private schools.17.
They get higher salaries than white workers.
According The Economist, black men earn an average of $1 million a year, while white men make $900,000.18.
They take a lower pay cut than their peers.
According To The Wall Street Journal, white men earn $2.7 million per year, but Black men earn just $1 billion.19.
They work fewer hours.
According another study, women make up about a third of all workers in the U.S., but they work an average 60 to 70 hours per week.20.
They think of themselves as leaders.
According research from The Brookings Institution, black leaders make up only 5 percent of all business leaders, but that number rises to 30 percent for women.21.
They consider themselves to be “real people.”
According to a study from the Economic Innovation Group, the number of Black business owners in the United States has doubled since 1980.22.
They value themselves as more than just a salesperson.
According this study from The Wall St. Journal, Black CEOs are twice as confident in their ability to manage their businesses than their White counterparts.23.
They pay less attention to customer service.
According Business Insider, Black customers tend to spend about three times more time on the phone with their credit card company than their counterparts.24.
They feel less empathy for customers.
According Harvard Business Review, black customers are less understanding of their financial situation and are less responsive to complaints.25.
They like to go to the gym.
According data from the University of Maryland, black women spend five times as much time on their feet as white women.26.
They go to parties more.
According CNBC, Black men attend about a three-and-a-half hour event at most parties compared to white men’s four hours.27. They