Minority small business grants help many groups in the society overcome financial struggles that reign during economic crisis. Majority of the people this year who are unemployed still belong to the minority group. With unemployment growing in minority communities, health issues also increase. This means many people are not able to avail of the necessary medical and healthcare benefits. In addition, many people are not able to enrol or finish schooling. As a result, many people are not able to get stable jobs due to poor health and lack of academic credentials. However, by owning small businesses minority groups have an alternative source of income. With small business grants, they are better equipped to overcome financial struggles.

There are more than 312 million people in total resident population in the United States this year. The unemployment rate has improved from 9.1% in June to 8.5% in December of last year. With more than 4 million more people since 2010, the fastest growing population is the minority groups. Without a stable source of income for a growing population, the minority group might have very little chance in overcoming financial challenges this year and the years to come. Fortunately, an increasing number of the minority groups are becoming active in entrepreneurial activities.

Statistics also show that there were 3.4 million single moms in 1970 compared to 9.9 million in 2010. In 2003, 22% of single moms were unemployed and 43% lived below the poverty line. The numbers have grown this year. And since single moms only get to earn a quarter of the earnings normal couples do, the financial burdens definitely weigh heavily on single mothers nowadays.

The government’s initiative to provide small business grants for single mothers is definitely a great relief to hundreds of women in the nation. Single mothers and the minorities who are given a chance to have their own small businesses are able to provide financially for their families from good sources of stable income. They are able to showcase their skills and talents in the businesses that they own. And they are able to provide jobs to other people in the different communities as well. Overcoming financial struggles can become difficult as the nation has not yet fully recovered. However, with small business grants for start up for the minorities and single mothers, many can expect a brighter future ahead of them.