Fact check: Has Black entrepreneurship hit a record during Joe Biden’s presidency? [Video]

In an ad timed for Black History Month, President Joe Biden touted gains Black Americans made during his tenure.

The Feb. 13 advertisement said, “The lowest Black unemployment rate in history. Black child poverty cut in half. Record numbers of new Black entrepreneurs. And over $130 billion in student debt forgiven.”

We’ve rated a few of those claims Mostly True: The record low for Black unemployment was reached in April 2023 and Black child poverty hit a record low of 22.3% in 2022. The Biden administration has also announced student debt forgiveness totaling $136 billion. While the student loan forgiveness efforts do not have racial guidelines, about 85% of Black undergrads finish college with student debt, compared with 69% of whites, so Black loan recipients benefit significantly from debt forgiveness efforts.

What about “record numbers of new Black entrepreneurs”? Biden has made similar comments a few times recently, including in campaign speeches Jan. 27 in …