Modern Black Queens
Black business ownership is higher than pre-pandemic. Women are driving that growth.
Lack business ownership is surging in the US despite the coronavirus pandemic, research shows, with a rise in businesses owned by Black women.
At the start of the pandemic, Black-owned businesses suffered. Between February and April 2020, Black business ownership dropped by more than 40%, the largest drop of any racial or ethnic group, according to a report from the House committee on small business.
When government aid became available, Black business owners received fewer small business grants than white business owners, with paycheck protection program funds only reaching 29% of Black applicants versus 60% of white ones.