What Silicon Valley Bank Collapse Means For Black Entrepreneurs

There are short-term and long-term consequences for the Black entrepreneurial ecosystem from the second biggest bank failure in U.S. history. Silicon Valley Bank (SVB) did business with nearly half of all U.S. tech startups backed by venture capitalists. Even though Black entrepreneurs receive less than 0.5% of all venture dollars invested in the U.S., the fallout from SVB could have greater consequences for them. Without access to sufficient money, Black entrepreneurs cannot build businesses to effectively compete across various sectors.

The Breakdown You Need To Know: