Black unemployment is 14.1% and Latino unemployment is 10.7%. One way the government can help reduce unemployment among blacks and Latinos is by promoting business development among the groups.
To build greater capacity firms must reach reach Stage III growth. Only 14% of the non-minority-owned firms have done so, 12% of Asians, 11% of Latinos and just 6% of black businesses.
Two major challenges that are facing minority businesses are building greater capacity and improving management efficiency. Corporate mentor protege programs can assist in this regard.