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National Entrepreneurship Week and Black History Month

Floor Speech

Date: Feb. 20, 2024
Location: Washington, DC

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Mrs. BEATTY. Mr. Speaker, I rise today to recognize the more than 160,000 Black-owned employer businesses in the U.S. during National Entrepreneurship Week.

Black businessowners experience pervasive barriers to accessing capital--more than any other demographic.

According to the Alliance for Entrepreneurial Equity, two-thirds of Black employers seek financing to expand business operations, yet half of them are denied loans and lines of credit.

Micael Habte is the owner of Upper Cup Coffee, an Eritrean-based coffee shop and wholesale coffee supplier located in the Old Towne East neighborhood of Columbus. Despite capital challenges due to COVID-19, today Micael is running two cafes, and a coffee kiosk, and has even expanded his roasting facility.

I'm proud of the fortitude businessowners like Micael have displayed, and I urge my colleagues to closely consider the challenges faced by Black entrepreneurs.

We must work together to build a stronger, more equitable economy for all.

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