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Americans — or at least low wealth, working class and minority Americans — are signaling that they are willing, on balance, to share a proportionate amount of personal financial pain, this time in the form of higher gas prices, if it means denying critical financial resources to Russia, as it invades Ukraine.
Operation HOPE fielded a spot survey of our small business and minority small business clients to gauge their sentiments on inflation, job creation and their overall state of business today. The results, were in some ways — inspiring. Some of the interesting results, after just a couple of hours of the survey being in the field from our HOPE Research & Impact Institute, include the following trends.
Here is one short testimonial from one of those minority small business owners, and his view on both inflation, and gas price hikes in particular:
And here’s a bit of ‘bonus’ good news: thanks in particular to a true commitment from corporate leaders to ushering in a new era of ‘social justice through an economic lens,’ and more so, thanks to the grit of African-American aspiring ‘builders’ themselves, the nation experienced a 38% increase in new black owned small businesses in the last year, alone.
This is the biggest increase in nearly two decades, and the largest jump of any category in new business creation in the nation, period. Operation HOPE and our partners are doing our part to advance black business creation, though our 1MBB (1 Million New Black Business Initiative), powered by a 10 year commitment from Shopify and others.
This is the Silver Rights Movement. And you can, do well and do good too.
John Hope Bryant, entrepreneur, founder of Operation HOPE