minority businesses

Disparities in family wealth and discriminatory lending patterns are major contributors to Black and Latino entrepreneurs accessing capital and loans to start and grow businesses in Massachusetts, according to a study released by the Boston Foundation last week.

Recent changes in the Payroll Protection Program intended to address systemic inequities, combined with free help for small and underserved businesses in Massachusetts, mean that minority- and women-owned businesses should take another look before the program sunsets at the end of May.

Acting Mayor Kim Janey announced a $2 million supplier diversity plan, following up on the lack of city contracts for Black-owned and women-owned businesses revealed in the city’s disparity study.

A coalition of minority business advocates filed a complaint against the city of Boston Monday, alleging that the city discriminates against Black and Latino-owned businesses in its $2.1 billion in annual contracting.

The numbers, which confirm previous studies, show just a handful of businesses owned by people of color did business with Boston over the last four years, despite the Walsh administration officials’ professed commitment to expanding opportunities.