We are pleased to share a series of reports that examine BIPOC entrepreneurship across eight markets. The reports, which were commissioned by Meta, analyze the mechanisms of economic exclusion in these markets, and how digital tools help entrepreneurs establish and grow successful small businesses, helping to level the playing field.
Interviews with eight business owners, as well as a review of existing research and publicly available data, reveal that entrepreneurs from marginalized groups use digital tools to do the following:
- Find alternative sources of funding and investment, in contrast to more prohibitive traditional channels
- Reduce start-up, marketing, and other costs when launching and growing their businesses
- Create new product offerings and innovate for the unmet needs of their co-ethnic consumers
These findings build on previous work by Meta’s Policy Advocacy and Research team and Data for Good team. Preliminary findings from many of our projects, including Digital Tools in Crisis and Recovery, Dynamic Markets, and Global State of Small Business, show that SMB leaders from minority communities in the United States were more likely to turn to digital tools to mitigate the economic effects of the pandemic on their businesses.
We wanted to dig deeper into these results and expand our analysis to other countries, so we commissioned a team of leading experts to assess the state of economic inclusion and the impact of digital tools around the world. Two authors — Dr. Jock Collins, scholar of Australian immigration and indigenous entrepreneurship, and Dr. Mohanbir Sawhney, expert on business innovation, including among underprivileged groups — led the research, alongside a panel of seven regional consulting experts with global and local expertise on minority entrepreneurship.
The resulting white paper and individual country reports shed light on the unique challenges facing BIPOC business leaders, as well how digital technologies help them overcome the social, economic, and cultural barriers that they face in conducting business.
To read the reports, click the link below.