RALEIGH, N.C. (WTVD) As President Biden commits to a more equitable PPP rollout process, Black-owned small businesses continue to face difficulties.
According to a report by UC Santa Cruz, from February to April 2020, the number of active Black-owned businesses decreased by 41%, more than double the rate of white-owned businesses. Access to capital has been a historically disparate situation for black-owned small businesses, said Kevin Dick, the President and CEO of Carolina Small Business Development Fund.
This week, the organization is hosting Black Entrepreneurship Week, sharing guidance and advice to business owners across the state. (We re) trying to provide Black-owned small businesses with information related to accessing capital, related to secure contracts with public and private sector entities, how to pivot in the face of the pandemic, said Dick.