How to navigate Colorado’s ‘black business’ search
Black and Latino businesses have traditionally struggled to find and retain top talent and have struggled to navigate the new business climate, according to new research by a Colorado law firm.
The firm found that black and Latino business owners are now able to search for candidates from nearly every state, according the Denver Post.
However, they are still unable to use a search engine like Google or Bing, said Richard P. Tompkins, one of the researchers, in a report released Tuesday.
Instead, they rely on a network of recruiters who use a list of criteria and then narrow their search to those who have a similar resume.
For example, one recruiter can look for people who have done research for a company in the same industry, the report said.
“The recruiters then look at their own LinkedIn profiles, Google profiles, Twitter profiles, Facebook profiles, LinkedIn profiles to find a match for the individual,” the report added.
The black and Hispanic workforce is projected to grow by nearly 3.6 percent from 2017 to 2020, according figures from the Federal Reserve Bank of New York.
Black and Latino companies have a higher unemployment rate than white and Asian businesses, according a report by the Urban Institute.
They are also more likely to have higher levels of educational attainment.
Black businesses are also less likely to be in a “market-driven” industry, which means they rely heavily on online sales, the Urban report found.
They are also in the minority in industries where they have historically made a significant amount of money.