This fall, MIT joined the Black Economic Council of Massachusetts (BECMA), a Boston-based statewide organization that works to advance the economic well-being of Black businesses, organizations, and people in the Commonwealth.
By Segun Idowu, Special to the Reporter
May 26, 2021
Segun Idowu, Special to the Reporter
In 2020, a Black community in Massachusetts that was on the rise got hit with increased public health, economic, and social challenges related to the Covid-19 pandemic and racial reckoning during the summer. These events, compounded by existing health disparities and a growing wealth gap, proved to be devastating to the growth of Black communities. If left unaddressed by urgent and bold action, the long-term effects will not just harm Black people, but also the well-being of other communities overall.
We know that these disparities aren’t new. In 2015, the Federal Reserve Bank of Boston published its damning “Color of Wealth” report that highlighted Boston’s yawning racial wealth gap. Additional reports by groups like the Coalition for an Equitable Economy have reinforced the fact that entrepreneurs of color continue to face barriers, whether it be the dispersal of needed capital to