Black-Owned Business during the Coronavirus Pandemic just might be saved.
The Coronavirus Disease 2019 (“COVID-19”) pandemic disproportionately affected Black and Brown entrepreneurs, compared to their White counterparts. From February to April 2020, CNN Business reported there was a 41% closure rate in Black-owned businesses and a 32% drop in Latino-owned businesses. Meanwhile, White entrepreneurs experienced only a 17% closure rate. However, Black and Brown entrepreneurs have received unprecedented support from Americans outraged by police brutality and the tragic murders of Breonna Taylor, George Floyd, and Ahmaud Arbery, while motivated to make a difference in racial injustice and economic inequity. In its efforts to promote equality and end racism, the Black Lives Matter movement has contributed to a sharp rise in Black-owned businesses ’ global online sales.… Read More Black-Owned Business during the Coronavirus Pandemic just might be saved.