BECMA came into being because of a profound need to address critical, systemic issues facing our community. Here are a few resources listing the persistent problems we were created to address.
In February 2018, we hosted a solutions-oriented forum at the Federal Reserve Bank of Boston featuring 7 key political and business leaders. Each discussed ways they impacted the push to expand access to opportunities for minority-owned businesses across the state. Check out each of their presentations to discover how best you can model their practices in your own industry or area of expertise.
reports and studies
This report by the Federal Reserve Bank of Boston found that people of color, on average, hold net assets worth $700 compared to $256,500 in net assets held by the average white Bostonian. The same report found that 27% of Black Bostonians are "unbanked" (they don't have a bank account) vs. only 8% of white Bostonians. Topics like the low rates of homeownership and educational attainment were also covered.
business & entrepreneurial tips
This October 2018 report released by the Boston Foundation confirms what many in Boston’s communities of color already know: that despite the economic boom we hear so much about, that wealth is not being realized in all parts of the city. The report also details disparities in income rations and high costs of living in communities of color.