The COVID-19 pandemic has profoundly affected the small business sector and had a devastating impact on many businesses, particularly those with Black and Hispanic owners. JPMorgan Chase Institute research shows that prior to the pandemic, there were substantial racial gaps in small business revenues, profit margins, cash liquidity, and survival. While COVID-19 relief efforts have helped bolster small businesses’ cash balances, not all small businesses started from the same baseline, indicating that an equitable recovery will require a focus on small businesses that were the most fragile pre-pandemic, including minority-owned businesses.
Join us on September 29th for a discussion on the economic impacts of COVID-19 on small business and the road to an equitable recovery. The conversation will feature experts from academia and government and will focus on racial gaps in small business financial outcomes – both pre-pandemic and during the pandemic – as well as how policy and programs can promote a more equitable small business recovery. RSVP here.
NYC Department of Small Business Services
Professor of Economics
UC Santa Cruz
President & CEO
Claire Kramer Mills
Assistant Vice President and Director of Community Development Analysis
Federal Reserve Bank of New York
Director of Business Research