Relevant News Clippings: 

The Wealth Gap

Fact Sheet: 

While households of color are projected to reach majority status by 2043, if the racial wealth divide is left unaddressed, median Black household wealth is on a path to hit zero by 2053 and median Latino household wealth is projected to hit zero twenty years later. In sharp contrast, median White household wealth would climb to $137,000 by 2053.

If current trends continue, by 2020 median Black and Latino households stand to lose nearly 18% and 12% of the wealth they held in 2013, respectively, while median White household wealth increases 3%. At that point–just three years from now–White households are projected to own 86 times more wealth than Black households and 68 times more wealth than Latino households.

The declining wealth of households of color is already taking a significant toll on the broader economy. The nation’s overall median wealth decreased nearly 20% from 1983 to 2013 ($78,000 to $64,000—a period when Black and Latino median wealth went down and White wealth slowly went up.

Even earning a middle-class income does not guarantee a family middle-class economic security, according to the report. White households in the middle income quintile—those earning $37,201-61,328 annually—own nearly eight times as much wealth ($86,100) as Black middle-income earners ($11,000) and ten times that of their Latino counterparts ($8,600).

This disconnect in income and wealth is visible across every socioeconomic level. The report found that on average, only Black and Latino households with an advanced degree have middle-class wealth or higher, while White households, on average, need only a high school diploma to attain that same level of wealth.

Rodney Sampson, cofounder of Opportunity Hub (OHUB), the largest black-owned multi-campus entrepreneurship center and technology hub in the U.S.

Studies & Reports:

Center for Global Policy Solutions and
The Research Network on Ethnic and Racial Inequality at Duke University 2014.

Fight Back: How to Combat Racial Wealth Inequality

Chuck Collins:  an expert on U.S. inequality and author of several books, including the report, “Reversing Inequality: Unleashing the Transformative Potential of an Equitable Economy” 

The Problem

There is a huge gender and ethnic wealth gap in America, and African-American women are at the bottom of the totem poll with a median wealth of a, mere, $200.

According to a new report: The Path to Zero Wealth, “While households of color are projected to reach majority status by 2043, if the racial wealth divide is left unaddressed, median Black household wealth is on a path to hit zero by 2053.”

The Opportunity

Entrepreneurship has always been a key driver for building wealth and prosperity in this country and, ironically, over the past 20 years, African-American women 'who lack wealth' have been starting businesses at a higher rate than any other ethnic group -- at 4 times the national average.

"For the last 20 years, women of color have turned to entrepreneurship at an
extraordinary rate. While the number of women-owned businesses grew 114%  from 1997 to 2017, firms owned by women of color grew at more than four times that rate (467%)."  The 2017 State of Women-Owned Businesses Report, Commissioned by American Express, Summary of Key Trends

Our Defining Moment 

"African-American women are in a position to close the wealth gap in America -- through successful entrepreneurship", says Barbara Bamba. 

The Challenge

African-Americans and Latinos have the highest failure rates in business, among the 4 major ethnic groups. 

"Black-owned and Hispanic-owned firms have higher failure rates than do
White-owned and Asian-owned firms." Ewing Marion, Kauffman Foundation
Compilation: Research on Race and Entrepreneurship, December 2016

The Solution

Startup & THRIVE: Pre-launch Accelerator featuring entrepreneurial readiness and wealth building programs designed to help African-American women entrepreneurs breakthrough barriers to startup success and start engaging in wealth building activities -- BEFORE they launch their businesses.

The Action

Give Birth to Your HIGHER Purpose: NOT JUST A BUSINESS!

The first ever business deliverance event created to help African-American women entrepreneurs and those who aspire to start their own business give birth to a BIGGER VISION for their businesses.

The Founder & Creator

Wealth Gap Strategist and international bestselling co-author of the Voyage to Your Vision, Barbara Bamba is on a mission to help African-American Women Entrepreneurs decrease the failure rate in business and close the wealth gap in America -- through "successful" entrepreneurship.

What We Get Wrong About Closing The Racial Wealth Gap

Samuel DuBois Cook Center on Social Equity

Expert Sources: 

Make Time For More Than The Money

with Thought Leader Barbara

Make Time For More Than The $$$