Michigan Chronicle, July 9, 2020: Black Businesses Matter!
The impact of COVID-19 on Detroit’s economy, and the financial disparity that exists for many Black Detroiters resulting from systemic racism, create a nexus for addressing Black business ownership in our City.
According to the Washington Post, the number of Black-owned businesses dropped by more than 40% since the onset of COVID-19, far more than other racial groups. One reason is that these businesses often occupy parts of the economy that were forced to close — beauty and nail salons, taxi services and day-care centers. They are also located in areas hardest hit by the pandemic, operate on thinner margins and struggle to secure government loans and other aid. With African American business ownership already the lowest in the population, we must take action now or risk losing even more of these establishments.
