ProPublica: The Pandemic’s Existential Threat to Black-Owned Businesses

ProPublica: The Pandemic’s Existential Threat to Black-Owned Businesses. “There are disparities between American businesses owned by white people and those owned by all minority groups, but the widest ones are typically with Black entrepreneurs, who tend to have modest family wealth and thin professional networks to help recruit talent and cut deals. Although the number of Black-owned businesses has grown in recent years, the vast majority remain sole proprietorships. As of 2012 — the most recent data the Census Bureau has collected — average annual sales for a Black-owned business came to about $58,000, compared to nearly 10 times that amount for the average white-owned enterprise. Those years of compounding disadvantage have been exacerbated by the pandemic.”

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