Where Do We Go From Here? The Survival and Recovery of Black-Owned Businesses Post-COVID-19

Abstract

Given the direct relationship between business ownership and economic vibrancy within communities of color, this research explores a tailored approach for addressing persistent race-based economic disparities inhibiting business ownership in communities of color. While significant evidence exists regarding the need for access to capital, education, and the market to improve the sustainability of businesses of color, this research demonstrates the need for an additional component (the “Fourth Dimension”) to spur the development of thriving, socially oriented Black-owned business communities. We envision the “Fourth Dimension” comprising a collaborative, community-oriented social growth strategy for small Black-owned businesses implemented through enhanced and deliberate cooperative, community-supported market engagement.

Assessing the impact of COVID-19 on economic recovery: role of potential regulatory responses and corporate liquidity

“…It is possible that COVID-19’s changing business dynamics could cause a structural break in our data. Model estimate during changing market cycles relies heavily on structural stability, as demonstrated in works like these (Khalid et al 2021 ; Lahr et al 2022 ; Mundle and Sahu 2021 ; Riza and Wiriyanata 2021 ). We cannot do a complete structural break analysis using the two-quarters post-COVID-19 firm-level available data (Wang and Zhang 2021b ).…”

Extraordinary Times Call for Extraordinary Measures: Small Business Assistance During the Pandemic

“…In making this recommendation, we must again note there is no question the pandemic exacerbated small business disparities for every type of marginalized constituency. But the data suggest that the level of inequity has been particularly notable for Black-owned firms who need additional help because they face the largest barriers to full recovery (Bloom et al, 2021;Lahr et al, 2022;Misera, 2020).…”