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Black-owned business

Race and Economy

Black former McDonald's franchisees are suing over discrimination accusations

by Nancy Marshall-Genzer
Sep 1, 2020
The plaintiffs are seeking up to $1 billion in damages.
Alastair Pike/AFP via Getty Images
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Race and Economy

Why the founders of Crowns & Hops are running a brewing company with a mission

by Andie Corban and Kai Ryssdal
Aug 24, 2020
"This absolutely is about racial equity," said Teo Hunter, COO of Crowns & Hops Brewing Co.
Teo Hunter, left, and Beny Ashburn, the founders of Crowns & Hops Brewing. Said Hunter: "Our goal was always to give something beautiful, something that was indicative of Black and brown excellence, to the community."
Courtesy Beny Ashburn
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Race and Economy

Retailers pledge 15% of shelf space to Black-owned businesses

by Marielle Segarra
Aug 19, 2020
The 15 Percent Pledge is pushing retailers to devote more shelf space to Black-owned businesses.
A Sephora store in Santa Monica, California, in March. The beauty chain is participating in the 15 Percent Pledge.
Mario Tama/Getty Images
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Specials

The Economy Reimagined, Part 1: Dealing with Inequality

by David Brancaccio and Kimberly Adams
Aug 7, 2020
Amid the wreckage of 2020, are there opportunities to fix what was already broken, including the system of human relationships we call the economy?
Pictured: Hundreds of people wait in line for hours at a downtown Brooklyn office for their EBT Food Stamp cards on May 12, 2020 in New York City.
Spencer Platt/Getty Images
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COVID-19

One reason why Black-owned businesses have fared worse in the pandemic: weaker banking relationships

by Kristin Schwab
Aug 4, 2020
That leaves them restricted access to capital, according to a study by the New York Fed.
A beauty product booth at a Black-owned business expo in Florida. The number of Black business owners in the U.S. fell more than 40% between February and April, according to a New York Fed study.
Octavio Jones/Getty Images
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My Economy

Shifting the Black hair care industry back into Black hands

by Alli Fam
Jul 28, 2020
Maggie Anderson has dedicated herself to Black economic empowerment by buying from Black-owned businesses. But it isn't easy.
Maggie Anderson
Courtesy of Maggie Anderson
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My Economy

Lists of Black-owned restaurants are circulating. Here's what that means for one baker.

by Andie Corban
Jun 16, 2020
Rita Magalde, owner of a Utah bakery specializing in baklava, says the increase in business feels like a miracle.
Rita Magalde with some of her sweet treats. Her business boomed during the holiday season.
Carlos Linares/Photo courtesy of Rita Magalde
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Reimagining the Economy

Why eliminating racial inequities is key for the post-COVID-19 economy

by David Brancaccio and Candace Manriquez Wrenn
Jun 4, 2020
"Going back to normal would be disastrous for Black Americans," says Andre M. Perry of the Brookings Institution.
"There's built-in inequality in the systems that we use to distribute resources to build wealth," Andre M. Perry says.
Jason Redmond/AFP via Getty Images
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COVID-19

Minority-owned businesses struggle to access emergency loans

by Amy Scott
Apr 28, 2020
Many of their lenders were excluded from the Paycheck Protection Program.
There's criticism that smaller and minority-owned businesses didn't get their fair share from the first round of the Paycheck Protection Program funding.
Spencer Platt/Getty Images
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