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.* * *