WHY WE DO WHAT WE DO

we’re NURTURING CARIBBEAN entrepreneurs to beat the oddS

90%

of start-up’s fail

18%

of first-time startup founders are successful.

10%

of new businesses don't survive the first year.

22%

of startups that fail don’t have a sound marketing strategy.

WHY FOCUS ON U.S. CARIBBEAN LED BRANDS & ORGANIZATIONS?

The racial wealth gap remains a stark and persistent issue in American society, reflecting deep-seated systemic disparities. In order to create meaningful change and address this critical challenge, it is essential to center the experiences, perspectives, and solutions of ALL those most affected by these disparities. That's why we have chosen to focus our platform on the U.S. Caribbean sector.

The Caribbean diaspora in the United States is comprised of more than 8.5 million individuals who were either born in the Caribbean or reported ancestry of a given country in the Caribbean (U.S. Census Bureau's 2019 ACS.)

Caribbean immigrants have immense social capital: deeply entrenched immigrant networks and geographically densely concentrated – which is integral to the entrepreneurial process. CBN serves to be a platform where Caribbean Americans business owners can gather, engage in rich discourse about our culture and entrepreneurship and our work aims to further help close the wealth gap.

According to the Aspen Institute, “business ownership plays a significant role in wealth creation/accumulation and could help address the racial wealth gap in the U.S. while also creating jobs and stimulating the economy more broadly.

Caribbean founders and community leaders have unique insights, resilience, and innovative ideas—all needed for transformative solutions built with impacted communities in mind.

We believe their impact, when nurtured to its fullest capacity, can help grow our communities, economies, and a more sustainable Caribbean ecosystem.

KEY STATISTICS AROUND THE RACIAL & WEALTH GAP IN THE u.S.

  1. Income Disparities: On average, Black and Indigenous women earn just 61 cents for every dollar earned by their white male counterparts. This wage gap not only affects individuals but also perpetuates generational inequalities.

  2. Wealth Inequality: The median wealth of white households is nearly eight times that of Black households and five times that of Hispanic households. This wealth gap means less access to resources for education, homeownership, and entrepreneurship within BIPOC communities. According to a study by McKinsey, If we change nothing, the Black-white wealth gap will cost the U.S. GDP 4-6 percent or $1 trillion by 2028.

  3. Entrepreneurial Disparities: While entrepreneurship is a pathway to wealth creation, BIPOC women and nonbinary individuals face significant barriers in accessing capital and resources. Less than 1% of venture capital funding goes to businesses led by BIPOC founders, limiting their growth potential. 

Source: Common Future

KEY STATISTICS about caribbean people IN THE u.S.

  1. The Caribbean diaspora in the United States is comprised of more than 8.5 million individuals who were either born in the Caribbean or reported ancestry of a given country in the Caribbean (U.S. Census Bureau's 2019 ACS.)

  2. The largest Caribbean immigrant sources to the U.S. are Cuba, the Dominican Republic, Jamaica, Guyana, Trinidad & Tobago and Haiti.

  3. The largest Afro-Caribbean immigrant population in the U.S. is from Jamaica, and 53% of its population is geographically distributed across New York NY, Ft. Lauderdale FL, and Miami FL.

  4. There are approximately 1.3 million Caribbean nationals in the NY/NJ/PA area alone (U.S. Census 2020).

Source: U.S. Census 2020