Black-owned businesses in the Capital Region have experienced greater economic hardship than their peers from the strain of the COVID-19 pandemic. Research conducted by BRAC found that 59% of local Black-owned businesses have experienced a large negative effect, compared to 38% of businesses nationwide. Specific areas of disparity include supply chain disruption, employment levels, and cash on hand. The data also illuminates a positive trend of regional Black-owned enterprise being more nimble and adaptive than national peers, shifting production and adopting pickup and delivery models more quickly. While almost all businesses have felt the economic pain inflicted by this pandemic, it appears that Black-owned businesses have been particularly impacted, a finding that makes supporting an equitable economic recovery all the more important. Read more about the data in BRAC’s latest blog post.
