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Why Partnerships Matter?
Entrepreneurs from all backgrounds typically rely on three primary sources for startup capital:
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Personal and family savings (63.9%)
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Business loans from banks (17.9%),
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Personal credit cards (10.3%).
However, Black entrepreneurs face disproportionately greater challenges. They are almost three times more likely than their white counterparts to have profitability impacted by limited access to capital and over twice as likely to be adversely affected by the cost of capital. In fact, 22.3% of African-American entrepreneurs report that limited access to capital has hindered their profitability—significantly higher than Hispanic (15.1%) and Asian-American (13.3%) business owners, and 2.5 times the rate of White business owners (8.9%) Kauffman Foundation.
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Moreover, a study by the Federal Reserve reveals stark disparities in potential financial support, with 71% of white Americans able to access $3,000 from family or friends in an emergency, compared to just 43% of African-Americans Federal Reserve.
Why Partner with Macon Black Tech (MBT)?
At MBT, we are committed to forging nurturing partnerships that build an equitable pipeline for founders at all stages of their business journey, ensuring they are well-equipped for growth.
Opportunities for Partnership
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Our Esteemed Partners
(Past & Present)
We are deeply grateful to all our partners who play a crucial role in advancing our mission. Their collaboration and support enable us to tackle barriers and create a nurturing environment for tech entrepreneurs to thrive. Each partner brings unique strengths and resources, significantly enhancing our collective impact and empowering us to deliver comprehensive support to our community. Together, we are building a brighter future for technology and innovation in our region. Thank you for your commitment and belief in our vision.