How Lockdowns Affect Black Businesses

During 2020 the Covid-19 Pandemic caused almost every state to issue stay-at-home orders. The only states that didn’t participate was Arkansas, Iowa, Nebraska, North Dakota, South Dakota, Utah and Wyoming. While these states were operating differently for weeks and some even months a large number of businesses were affected. The shortest order was 4 weeks and the longest was 22 weeks. During this time Black Businesses suffered the most. According to the Federal Reserve small business ownership in the US dropped 22% in just 3 months (February 2020-April 2020). But again Black businesses suffered the most with data showing a decrease of 41%. A total of 440,000 black business owners closed their doors for good by the end of April 2020. Even more than that are struggling to keep their business running today. President Biden acknowledged this change during a White House press conference on 2/22/21. Compared to the 17% decline in white business ownership that’s extremely terrible. This decline is the largest decline between all racial groups. A study by the Center for Responsible Lending shows around 95% black owned businesses were excluded from the small business inititive which was meant to save businesses affected by the pandemic and keep them operating. With the information given in this post it’s clear lockdowns to “stop the spread” of covid-19 will do nothing but cause harm to black businesses and stop the spread of black wealth amongst families. These are the same black businesses that don’t receive enough support from the black people begging for lockdowns.

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