- Advertisement -
Home Entrepreneurship 41% Of Black Businesses Have Been Forced Closed Due To COVID-19

41% Of Black Businesses Have Been Forced Closed Due To COVID-19

- Advertisement -

COVID-19 has impacted Black businesses in a particularly brutal way. 17 percent of white businesses have been shutdown due to COVID-19 but for Black businesses, the number is 41 percent. That’s according to a report by the National Bureau of Economic Research. The groundswell of support for Black businesses in the aftermath of the George Floyd and Breonna Taylor murders hasn’t benefited many Black entrepreneurs. As Black people rally to strengthen the businesses that remain, there must be a conversation on what happens to the entrepreneurs who were forced to shutdown.

The economy is tanking right now, which means that entrepreneurs who’ve been forced out of business aren’t likely to find employment at other businesses. Many of these entrepreneurs have no resources to get back into business for themselves, after pouring years of sweat and resources into their businesses. These Black entrepreneurs are essentially invisible, absent from the political debate and not targeted by the many government and private funds made available to struggling businesses. As unemployment numbers continue to climb, the pathway to recovery isn’t so clear for the estimated 440,000 Black business owners who are now closed.

There must be something done and quickly, to help these entrepreneurs retool. There must be a collective response to support, affirm and invest in the Black entrepreneurs who, before this pandemic, gave so much to our community. Something is brewing, stay tuned…

- Advertisement -
D'Juan Hopewell
I care about Black Power. Period. Currently working on creating jobs and funding new startups on the South Side of Chicago and writing here and there at HopewellThought.com. Follow me @HopewellThought.
- Advertisement -

Stay Connected

341,269FansLike
732,979FollowersFollow
220,589FollowersFollow
2,458FollowersFollow
2,988SubscribersSubscribe

Must Read

Upgrade Your Natural Styling With PowerTwist

The PowerTwist is an advanced twist pick designed by Black business owners looking for a more effective, hygienic, and ergonomic hair twisting solution.
- Advertisement -

iC Murals’ Peel-and-Stick Black Art Prints Will Turn Your Home Into a Gallery

IC Murals is where fine art meets interior design.

Why Gabrielle Union Loves Caribbrew

Caribbrew is the perfect gift for the holiday season, for more than just you and your loved ones.

Treat Yourself Like a Queen With The Luxe Box’s Feminine Care Products

The Luxe Box was created to empower women by providing high quality plant based products. We believe that good hygiene can increase confidence in all women.

Related News

Upgrade Your Natural Styling With PowerTwist

The PowerTwist is an advanced twist pick designed by Black business owners looking for a more effective, hygienic, and ergonomic hair twisting solution.

iC Murals’ Peel-and-Stick Black Art Prints Will Turn Your Home Into a Gallery

IC Murals is where fine art meets interior design.

Why Gabrielle Union Loves Caribbrew

Caribbrew is the perfect gift for the holiday season, for more than just you and your loved ones.

Treat Yourself Like a Queen With The Luxe Box’s Feminine Care Products

The Luxe Box was created to empower women by providing high quality plant based products. We believe that good hygiene can increase confidence in all women.

Kingdom of Mel Is Bringing Black Beauty to Apparel

Travel with Representation: Travel bags and Apparel that represents sunkissed Kings and Queens.
- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here