Despite shrinking income and education gaps between white and non-white families, black families in the United States still trail others in wealth accumulation, economists at the Federal Reserve Bank of St. Louis said in a recent report.
Although black wealth increased at a faster rate than white wealth in 2016, blacks still owned less than 10 percent of whites’ wealth, according to the Fed.
Some black women entrepreneurs in St. Louis see starting their own businesses as an avenue to closing the wealth gap within their families and communities.
St. Louis children’s book author Rebecca Clark is one such entrepreneur. Clark, an undergraduate- and graduate- degree earner with a career in corporate communications, decided a year ago to combine her creative aspirations and her desire to establish wealth for her family to create Be Heard LLC, a company she created to self-publish her books. Check out the full story.
By Ashley Lisenby, St. Louis Public Radio