Abstract
The COVID-19 virus has impacted every economic segment and demographic in the world in 2020. Especially hard hit has been small businesses, which often are working day to day to cover costs and remain profitable. In the United States, minority-owned businesses have been more severely impacted than other businesses and in particular, Black-owned businesses have experienced more negative impacts due to the pandemic when compared to their counterparts. This paper will highlight some of the issues and challenges faced by Black small businesses in response to a survey regarding the pandemic. Suggestions and recommendations will be given to assist these firms in recovery and growth.
Highlights
The COVID-19 virus has impacted every economic segment and demographic in the world in 2020
The New York Times reported that most of the were small businesses that fostered competitiveness while area were located in the regions with the highest COVID rates, generating about 45% of all economic activity and employing which led to economic and healthcare crises (Macro Issues, nearly half of all workers in the country. (Small Business 2020)
©Center for Promoting Education and Research (CPER) USAhttps://creativecommons.orgw/liwcenwse.sc/pbye/4r.n0/et.org. Though these sources were not often cited by Black small pretested on a group of 11 small business owners not involved business owners as relief funds received
Summary
Amazon set up a $5 million Neighborhood of women who are unemployed or underemployed as a Small Business Relief Fund which was able to help numerous result of economic hardships due to COVID-19. BeyGOOD partnered with result, the location of the business and the industry in which it the NAACP to create the Black-Owned Small Business Impact operated determined how much and what types of aid were Fund to advance economic empowerment for Black available, which could make or break the small business businesses, donating $10,000 to qualified firms (Gunn, 2020). Though these sources were not often cited by Black small pretested on a group of 11 small business owners not involved business owners as relief funds received
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