Due to my research, according to a Fortune article. There are about 100,000 businesses that temporarily shut down due to the pandemic, and now out of business. This shutdown may get worse because many small businesses are struggling and needing stimulus payments to survive.
Not all small businesses have been affected.
According to a Federal Reserve Bank of New York, “a report in August, the number of active Black small-business owners fell 41% from February through April (nearly twice the rate of non-Black-owned businesses), as many struggled to access programs like the Paycheck Protection Program.”
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