Covid Crisis Killed Nearly Half Of Black Small Biz

Covid Crisis Killed Nearly Half Of Black Small Biz
(AP Photo/Gillian Flaccus)
Near
ly half of Black small businesses had been wiped out by the end of April as the pandemic ravaged minority communities disproportionately, according to a report from the New York Fed.

Black-owned businesses were more than twice as likely to shutter as their white counterparts, the report found.

"Nationally representative data on small businesses indicate that the number of active business owners fell by 22% from February to April 2020—the largest drop on record," the report said. Read Full Article »


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