Disparities

Need

While the franchise business model provides an opportunity to earn a living and, in some cases, build generational wealth, people of color are still facing a number of barriers to entry and broader racial disparities in the business world. Allie Reid, the retail racial equity and inclusion manager at Ben & Jerry’s, said the biggest issue is access to capital.

POC-owned firms were half as likely as white-owned firms to receive all the financing they wanted, according to a 2022 study by the Federal Reserve. The study also found businesses owned by people of color were half as likely to be approved for a loan, cash advance or line of credit at a small bank, and about a third as likely to be fully approved at a finance company.

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UPS believes we have a responsibility to foster diverse, equitable, and inclusive environments; within our four walls and in the communities we serve. Empowering underrepresented business owners is our motive for developing the UPS® Ignite Program.

Through this program, we have partnered with industry-leading experts who are equipped to provide access to the tools and support minority and women entrepreneurs need to help start or grow their business.