President Biden argued that more assistance from the federal government is needed for black entrepreneurs because many did not have accountants or lawyers.
Biden traveled to the Greenwood Cultural Center in Tulsa and meet with survivors of the 1921 massacre. At least 300 Black people were killed when a white mob attacked the Greenwood district, known as “Black Wall Street” for its thriving businesses, in what is considered one of the worst race massacres in the country’s history.
During the speech recognizing the 100th anniversary of the Greenwood Race massacre in Tulsa, the President spoke about black business owners.
“The data shows young black entrepreneurs are just as capable of succeeding, given the chance, as white entrepreneurs are, but they don’t have lawyers, they don’t have accountants, but they have great ideas,” Biden said.
Biden said he would focus more on helping black-owned businesses grow with small business loans.
He also announced that the federal government would use more of its purchasing power to support “disadvantaged businesses,” including those owned by “black and brown” Americans.
“I have the authority to do that,” Biden said.
Biden said he wants to invest more federal research money into Historically Black Colleges and Universities.
“The reason why they don’t … their students are equally able to learn as well, and get the good-paying jobs that start at 90 to 100 thousand bucks,” he said. “But they don’t have the money to provide and build those laboratories.”
Biden also promised to spend more on infrastructure in minority communities.
“Let’s ensure access to health care, clean water, clean air, nearby grocery stores that are stocked with fresh vegetables and food,” he said. “I mean, these are all things we can do.”