Why Black Entrepreneurs Remain Pessimistic About the Economy – And What That Means

A recent survey of New Majority entrepreneurs assessed expectations for the national economy over the next 6, 9, and 12 months. The results reveal distinct outlooks across racial identities.

In the 6-month forecast, Black entrepreneurs express the greatest level of pessimism, with nearly 70% anticipating that the national economy will become somewhat or much weaker. In contrast, only 26% of Hispanic entrepreneurs share this concern, while 38% expect minimal or no change. White respondents fall somewhere in between, often expressing more moderate views.

Across all time frames, White entrepreneurs most frequently expect minimal or no change, suggesting a preference for stability or a gradual, steady trajectory.

This pattern of cautious optimism among White entrepreneurs contrasts with the persistent skepticism observed among Black respondents. Even at the 12-month horizon, over one-third of Black entrepreneurs still anticipate a weakening national economy.

These outlooks reflect lived experiences and perceptions of structural inequities that shape how entrepreneurs assess risk, plan for opportunity, and respond to shifting conditions.

Explore the full analysis of economic sentiment among New Majority entrepreneurs in the latest edition of the New Majority Journal.