In the dynamic landscape of the construction industry, minority contractors often face unique challenges that hinder their growth and participation. Despite possessing the requisite skills and experience, these contractors frequently encounter obstacles that hinder their success.
One of the most significant barriers for minority contractors is limited access to financial resources. A study by the U.S. Department of Commerce revealed that minority-owned businesses are less likely to receive loans compared to their non-minority counterparts, and when they do, the interest rates are often higher.
