Capitalism works best when businesses innovate and create jobs.
This was not the case when the COVID-19 pandemic struck in 2020. While all small businesses (companies with fewer than 500 employees) were affected, it flattened Black businesses like a tornado, impacting them far more than other companies.
From a public policy perspective, two questions come to mind: Why were Black businesses impacted more than other businesses? What can be done to strengthen Black businesses?
The answers are essential because Black businesses play a vital role in their communities.