{ "docId": "019dd923-5e88-73ef-bd5a-3a0eacbf62a9", "docSlug": "e47a7bbdc51ee31f", "documentTitle": "2022 strategic update presentation", "authorId": "GoldmanSachs", "authorName": "Goldman Sachs", "documentKindSlug": "consulting-deck", "documentKindLabel": "Consulting deck", "sourceTypeSlug": "equity_research", "sourceTypeLabel": "Equity research", "presentationDate": null, "orientation": "portrait", "aspectRatio": 0.773, "pageNumber": 25, "pageCount": 89, "prevPage": 24, "nextPage": 26, "slideType": "appendix_data", "function": "summarize", "density": "overcrowded", "nDataPoints": 5, "notes": "Contains footnotes referencing external research reports.", "elementsJson": [ "paragraph", "footnote" ], "metadataConfidence": 0.9, "imagePath": null, "slideHref": "/slides/019dd923-5e88-73ef-bd5a-3a0eacbf62a9/25", "deckHref": "/decks/019dd923-5e88-73ef-bd5a-3a0eacbf62a9", "deckJsonHref": "/decks/019dd923-5e88-73ef-bd5a-3a0eacbf62a9.json", "deckAnchorHref": "/decks/019dd923-5e88-73ef-bd5a-3a0eacbf62a9#slide-25", "components": [ { "bbox": null, "kind": "callout", "text": "Narrowing the opportunity gaps for Black women would drive economic progress for the country.", "attrs": null, "subkind": null, "toolName": "Visual emphasis", "toolSlug": "visual-emphasis", "confidence": null, "componentId": "019dd952-1d6f-77e9-a17e-6dbeba7de165", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.05, "w": 0.78, "x": 0.11, "y": 0.85 }, "kind": "paragraph", "text": "Running a Business While Black analyzed 10 years of data to measure the Black business owner experience. Findings highlight that even among 10,000 Small Businesses alumni, Black entrepreneurs face outsized challenges. Black entrepreneurs applying for bank funding are", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "23ae384d-0554-426d-bc4f-4382265e57b7", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.04, "w": 0.78, "x": 0.11, "y": 0.7 }, "kind": "paragraph", "text": "Four research programs we conducted in recent years help inform our understanding of small business needs affecting minority business owners in particular as detailed below.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "562a9eef-53fe-41ba-985d-f957b4cad1a1", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.13, "w": 0.78, "x": 0.11, "y": 0.08 }, "kind": "paragraph", "text": "neighborhoods.65 One nonprofit highlighted East New York where housing scarcity leads to deed theft, harassment, foreclosures, house flipping, tax lien sales and other factors driving the displacement of the traditional owners of small homes and the tenants they often house. Another national group cautioned against gentrification asking banks to focus investment in regions and cities with the greatest needs despite potentially higher financial risks.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "955b3350-665e-4de6-8e08-be4bd021d592", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.78, "x": 0.11, "y": 0.37 }, "kind": "paragraph", "text": "Nonprofits frequently emphasized the value of combining real estate investments with grants or education to effectively support LMI households. They support a multi-faceted approach, including investments, philanthropy, services, technical assistance and recommended partnering with community organizations on the ground to address these complicated issues.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "af07d932-daea-465a-8fa6-a70aa8ed1e66", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.15, "w": 0.78, "x": 0.11, "y": 0.22 }, "kind": "paragraph", "text": "Access to affordable housing is also a challenge in Utah where, according to a Salt Lake City nonprofit coalition, the affordability crisis grows with Utah’s population. While there is space for real estate development in Utah overall, most eligible land in the city has already been developed. Immigration (both documented and undocumented), refugees and birth rates above the national average have severely strained the city’s housing supply and broader services. Community organizations and service providers are insufficiently resourced to address the considerable gap in access to adequate housing, education and employment.", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "da848d70-2858-4de3-ad1e-70c1c6f73a93", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.09, "w": 0.78, "x": 0.11, "y": 0.75 }, "kind": "paragraph", "text": "Black Womenomics was developed by Goldman Sachs Global Investment Research and helped shape the Firm’s One Million Black Women initiative. The research shows that Black women are one of the most marginalized groups in the country. Findings show that a reduction in the earnings gap for Black women could increase the U.S. GDP by $300 billion per year. Narrowing the opportunity gaps for Black women would drive economic progress for the country.69", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "f39b600e-14ae-4d29-87a6-2889028d770e", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.21, "w": 0.78, "x": 0.11, "y": 0.48 }, "kind": "paragraph", "text": "Feedback from community engagement and our own research highlight large disparities in access to financial, social and intellectual capital affecting minority business owners and rural small businesses. Black entrepreneurs face historical inequities and greater challenges to achieve economic recovery and grow their business. Minority-owned businesses in New York have closed at a faster rate than other businesses. Because of the lingering pandemic effects, the Black-owned businesses that have survived have less cushion to withstand crises and shocks. Rural areas rely on small businesses which account for 42% of jobs, versus 28% of jobs in metropolitan areas, yet struggle with declining rates of business formation66 and limited access to capital. From 2012 to 2017, 40% of rural counties had a net loss of bank branches.67 One in five Americans live in rural America and small businesses are anchors for job creation and wealth generation in these communities.68", "attrs": null, "subkind": "paragraph", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "fc5f1c33-4c7f-49a9-bcca-60bd642cfcaa", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.07, "w": 0.78, "x": 0.11, "y": 0.91 }, "kind": "source-note", "text": "65-69: References to external reports and data sources.", "attrs": null, "subkind": null, "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a0be5601-b6a3-40c3-bb20-ace27f6abbfe", "frameworkName": null, "frameworkSlug": null }, { "bbox": { "h": 0.02, "w": 0.45, "x": 0.11, "y": 0.45 }, "kind": "title", "text": "2) Economic Opportunities for Small Businesses", "attrs": null, "subkind": "headline", "toolName": null, "toolSlug": null, "confidence": null, "componentId": "a9bd780f-5ff6-4514-9b0e-ff6f6fed8b23", "frameworkName": null, "frameworkSlug": null } ], "metrics": [], "tools": [], "frameworks": [], "arcBeats": [ { "to": 30, "from": 21, "beatId": "969d2e14-68c3-4434-a7cc-38e81509811b", "arcName": "The Consultant's Gambit", "arcSlug": "consultants-gambit", "beatName": "Impact & Next Steps", "beatSlug": "consultants-gambit-impact-next-steps", "evidence": "The community engagement efforts and case studies demonstrate the impact and outline next steps.", "position": 3, "confidence": 0.8, "parentBeatName": "Resolution", "parentBeatSlug": "resolution" } ], "loops": [], "imagePathAlt": null, "thumbSrc": null, "thumbSrcAlt": null, "locked": true }