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Racial wealth inequality is a significant and growing issue in the USA. Improving the lagging rate of black new venture creation and successful entrepreneurship could help close the gap. The purpose of this paper is to focus needed attention on the financial challenges resulting from institutional and systemic discrimination that black entrepreneurs must deal with. Following this literature review, the paper makes recommendations and broad public policy suggestions.

This study conducts a literature review and discusses the myriad of reasons black entrepreneurs struggle with inadequate access to capital, with special emphasis on weaker entrepreneurial ecosystems that have resulted from systemic racism.

The paper sheds light on several factors which continue to directly impede successful black entrepreneurship including discrimination in lending, distrust in institutions, over-reliance on (inadequate) personal capital and declining black-owned banking and financial institutions, as well as community banking options in black communities.

The paper is conceptual and relies on prior literature. The proposed solutions are just a starting point and are certainly not meant to be all-inclusive or comprehensive. Much future research, particularly longitudinal research, is needed to further develop theory and specific public policies which can close the disparities this study has discussed. This study outlines several key areas in need of further quantitative and qualitative studies to better understand black entrepreneurship.

The US economy will increasingly suffer if the nearly 15% of population (and growing) made up of black communities continues to struggle. The broad-based policy solutions proposed in this paper would allow for increased access to capital that would address the long-term deficiencies and help to close the racial wealth gap.

Through this study’s broad-based potential solutions, entrepreneurial ecosystems can be strengthened to build the environment for successful new venture creation in black communities. The longer-term benefit would be increased tax revenues, improved communities with fewer individuals needing support through government assistance and greater social stability as economic gaps between various racial groups are closed.

Using a broader entrepreneurial ecosystem framework and a systemic racism theory lens, this study discusses the limited capital black entrepreneurs have access to. Following this literature review, this study offers broad-based policy solutions that can strengthen ecosystems and directly address the issues raised in the paper.

Racially and ethnically minoritized (REM) women continue to be underrepresented in science, technology, engineering and mathematics (STEM) programs and careers. Peer mentoring is one strategy that can support their participation. This study explores the experiences of Black women peer mentors in an online peer mentoring program at two historically Black institutions.

A qualitative case study approach was utilized to explore the impact of an online peer mentoring program on peer mentors' STEM self-efficacy, sense of community, STEM identity and intent to persist in STEM.

Analysis identified five themes relating to peer mentors' experiences in the program: (1) an “I can do this” approach: confidence and self-efficacy; (2) utility of like others; (3) “beacons of light”: intersecting and malleable identities; (4) skills development and (5) motivation and reciprocity. Further, challenges of the online relationship were shared.

The study contributes to the body of knowledge by demonstrating the utility of an online peer mentoring model among women mentors enrolled in STEM programs at two historically Black institutions. The findings support those who are historically marginalized in participating in and remaining in STEM.