Nearly 8 in 10 (77%) Black professionals aspire to start their own business within the next year, according to a recent LinkedIn report. This surge is part of a broader movement as professionals increasingly turn to freelancing, consulting, or launching side hustles to gain flexibility and control over their careers. Why Entrepreneurship is on the Rise Several factors contribute to this rise in entrepreneurial ambition. The report reveals that 85% of Black professionals believe having multiple streams of income is essential, and 69% say recent layoffs in the news have
Primary Venture Partners has partnered with over 25 leading New York-based venture firms and startups to introduce the Factor Fellowship. This program will tackle the diversity, equity and inclusion (DEI) challenges head-on by connecting the city’s VC-backed startups with top talent from underrepresented groups. Addressing Diversity in Venture Capital and Startups The data on diversity within the venture capital and startup landscape shows that only about 13% of venture capital decision-makers are women. Funding for Black founders also declined in 2023, failing to reach the $1 billion mark for the first time since 2016.
