U.S. Black-Owned Firms Make Surprise Comeback to Pre-Covid Level
- Number of Black owners is up 2% in September from February
- Buy Black, new businesses could be contributing factors
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Black-owned businesses, dealt a crippling blow in the first months of the Covid-19 crisis, have rebounded to their pre-pandemic numbers, according to research based on U.S. Census Bureau data.
The turnaround is a sharp contrast to April, when a 41% plunge in the number of active African-American business owners heaped more challenges on a community already facing outsize health problems. The rate of decline abated to 19% by June as the country reopened, but remained more than double that of White owners during the period.