Forbes interviewed Lyneir Richardson about challenges for minority entrepreneurs

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Wednesday, September 6, 2017
Newark, NJ


What Lyneir Richardson Has Learned About Failure and the Challenges for Minority Entrepreneurs

Lyneir Richardson wears two hats, as an entrepreneur and an academic. Since 2014, he’s been executive director of Rutgers Business School's Center for Urban Entrepreneurship and Economic Development, a program that supports women and people of color who are starting their own ventures.

He's also CEO of Chicago TREND, which offers financing and consulting to retail developers in Chicago's low-income neighborhoods.

Richardson's career has been marked by highs and lows. Early on, he ran his own Chicago real estate firm that first prospered and then crashed. Next, he worked for one of America’s most prosperous REITs, but lost his job when the financial crisis battered the firm. Then came a stint as head of economic development for the city of Newark, NJ.

In this interview, which has been edited and condensed, Richardson, 51, talks about what he learned from failure and why he believes African-American entrepreneurs should always make profits a priority.

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TAGS: Entrepreneurship Lyneir Richardson The Center for Urban Entrepreneurship and Economic Development