Black and minority-owned business: The road to recovery

May 13, 2021 · In 2022 we endorsed Maryland’s first Black Governor, Wes Moore. And now we celebrate the first Black female Senator from Maryland, Angela Alsobrooks! Subscribe to keep out tradition going!

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Exhausted: Goldman Sachs Finds 43% Of Black-Owned Businesses …

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Sep 14, 2020 · It’s no secret that Black-owned businesses were the hardest hit by the pandemic, with Goldman Sachs finding that they continue to face a tougher road to recovery. The Wall …

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Closing The Black Employer Gap: Insights From The Latest Data On …

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Feb 15, 2024 · In 2021, the number of Black-owned employer businesses increased by 14.3% (roughly 20,000 businesses) to a total of 161,031 employer businesses—the largest annual …

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FAQs about Black and minority-owned business: The road to recovery Coupon?

Are black business owners facing a tougher road to recovery?

It’s no secret that Black-owned businesses were the hardest hit by the pandemic, with Goldman Sachs finding that they continue to face a tougher road to recovery. The Wall Street firm noted that 31% of Black small business owners have seen less than 25% of their pre-covid revenue return. ...

Are black business owners working to build a thriving community?

Black business owners are working to build stronger communities—75% told Intuit QuickBooks they believe Black-owned businesses are critical for a thriving Black community. And according to the Bank of America report, 87% are committed to driving social change through their businesses. ...

Why are black business owners struggling today?

However, overall, the historical foundations of systematic racism and the poor implementation of past polices greatly contributed to the current conditions today being faced by Black business owners. During the period of 2007 through 2009, the US suffered one of the greatest economic downturns since the Great Depression. ...

How did the black business movement impact business owners?

The movement created surges in new business for proprietors like Moses and Maurice, along with questions about the sustainability of this new customer demand. All of these interwoven complexities illustrate the unique experience of Black business owners, historically and over the past year. ...

Are black business owners facing a racial justice crisis?

Black business owners across the nation found themselves in a perilous conflict, as many agreed whole-heartedly with the racial justice marchers’ frustrations, and in some cases even joined the demonstrations themselves, yet were also struggling to find ways to avoid their own businesses being vandalized amid the turmoil. ...

Are black business owners judged more critically than non-black business owners?

Most (86%) of the Black business owners surveyed believe their businesses are “judged more critically than non-Black businesses.” In addition, the report says Black business owners “feel the impact of racial disparities” every day. So to avoid negative racial stereotypes, 82% say they behave differently in customer and vendor interactions. ...