THE AFRO - Recent research by the U.S. Small Business Administration confirms these trends and spotlights the particular challenges faced by Black entrepreneurs supporting families even more than entrepreneurs without children at home. One proxy statistic for economic distress: In April 2020, total working self-employment was 47% lower for Black Americans with children at home but only 27% lower for those with no children at home, implying that those with children were facing barriers to holding paid jobs.| By Afro Staff An August 2020 Federal Reserve Board report painted a dire portrait of the effects of COVID-19 on minority-owned business, especially in Black communities. Among all small businesses, the number of active business owners fell by 22% from February to April 2020, the largest drop on record. But the racial disparities in the failure rate […]
