Access to Capital Remains Top Challenge for Black Business Owners in Greater Cleveland, Survey Finds
A survey conducted by The Presidents' Council, a Black chamber of commerce for Northeast Ohio, found that nearly 30% of Black business owners in Greater Cleveland identify access to capital as their biggest challenge. The survey also revealed that inadequate…
Cleveland Akron, OH, July 30, 2026 —
Access to capital is the most significant hurdle for Black business owners in Greater Cleveland, with nearly 30% identifying it as their primary challenge, according to a recent survey by The Presidents’ Council. The Presidents’ Council, a Black chamber of commerce representing Northeast Ohio, conducted the survey to understand the critical issues facing Black entrepreneurs in the region.
The survey results highlight that beyond initial funding, inadequate cash flow continues to be a major concern for established businesses. Additionally, hiring difficulties present another substantial obstacle to growth and sustainability for these businesses.
In response to these findings, The Presidents’ Council is actively working to provide solutions. The organization is initiating a series of events designed to facilitate connections between business owners and potential lenders. These events aim to educate entrepreneurs about available funding opportunities and to foster the development of crucial financial relationships.
These challenges are understood to be rooted in broader societal issues, including the persistent racial wealth gap and a historical lack of established financial relationships within the Black business community. The Presidents’ Council seeks to bridge these gaps through direct engagement and resource provision.
Details regarding the specific methodology of the survey, the exact number of participants, or the timeline for the upcoming events were not provided. The specific lenders or financial institutions involved in the planned events were also not detailed in the summary.
Story summarized from the original created by Olivera Perkins on signalcleveland.org, see more information here.
