Chart showing rates of business formation among ethnic groups in the U.S. versus that of NFTE graduates.
Rates of business formation among ethnic groups in the United States, compared with that among graduates of the National Foundation for Teaching Entrepreneurship
NFTE students 14.0%
African Americans 1.5
The National Foundation for Teaching Entrepreneurship (NFTE), based in New York City, equips inner-city youths with the skills to start their own businesses. Says NFTE employee Mike Caslin: "There is a correlation between business-formation rates and positive things like capital accumulation, goal setting, investing in yourself, less crime, less racism."
Source: The Wall Street Journal, the 1990 U.S. Census, and Roosevelt University professor Steve Balkin, as cited by NFTE.