Money is a crucial ingredient in starting and growing a company. Undercapitalized companies have lower sales and profits, generate fewer jobs, and are more likely to fail. Overlooked entrepreneurs have less capital because, on average, they earn less than white men and are less likely to be promoted. In addition, women go in and out of the workforce because of caregiving responsibilities. Evidence finds that minority and women entrepreneurs are dissuaded from applying for credit,ask for less financing than men do, are approved less often, and pay more for credit. Read more ……
