Can a ‘Guaranteed Income' for Black Entrepreneurs Narrow the Wealth Gap?

A program in Oakland, California, is helping Black women-owned companies survive the economic downturn since the onset of the pandemic. Known as Runway, the financial innovation firm provides $1,000 a month without any conditions. The monthly income allows historically-marginalized entrepreneurs to focus on how to pivot in order to survive the pandemic. The decision to provide cash payments to this particular demographic was based on research that highlights the lack of financial security nets in the Black community that prevent business owners from relying on their friends and family in times of need.

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