One reason why Black-owned businesses have fared worse in the pandemic: weaker banking relationships
That leaves them restricted access to capital, according to a study by the New York Fed.
The owners, who employ many Asian immigrant workers, face mounting costs and fewer customers as they try to keep their doors open.
They have been a lifeline for laid-off workers. They also boost demand and enable businesses to focus on staying afloat.
In a Thursday hearing, the Senate was told how Black business owners faced hurdles accessing Paycheck Protection Program funding.
Chambers must navigate a new landscape that includes shutdowns, PPP applications and changing promotional strategies.
Social distancing guidelines and nervous customers are pushing business to change how they operate. Some of the changes may be permanent.
A family business that's endured for five generations figures out new ways to stay relevant.
When impulse buys dropped, Gelateria Uli's owner had to find a new business model to keep the Los Angeles ice creamery afloat.