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Black-owned companies acquired lower than 1 percent of enterprise dollars and Latino/a-owned businesses received less than 2 percent in 2022, in accordance with CrunchBase. The Department of Commerce is supporting and investing in minority business enterprises (MBEs) to ensure that each entrepreneur can contribute to U.S. economic competitiveness. The Women of Color Grant Program, provided in partnership with the Tory Burch Foundation, is an initiative designed to support and empower ladies of color entrepreneurs within the United States.