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Business Owners File Lawsuit Over 'Intrusive' Act Requirements

The lawsuit alleges the new requirements adds additional burdens to business owners of color and immigrant business owners. ....

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Small Business Toolkit: 8 Resources for Black-Owned Businesses

Published January 12, 2021 •
Updated on January 12, 2021 at 9:21 am
@criene via Twenty20
Only 4.3% of America s 22.2 million business owners are Black, according to a February report by the Brookings Institute. And Black-owned businesses launch with about a third less capital than their White peers and have difficulties raising private investments from mainstream investment systems, reported Brookings. While 7% of White business owners get a loan in their first year of business, only 1% of Black business owners do so.
Amid the Covid-19 pandemic, Black-owned businesses have also been hit the hardest. According to a recent analysis by the Federal Reserve Bank of New York, Black firms have been almost twice as likely to shutter as firms overall. And just 20% of the Paycheck Protection Program (PPP) loans went to areas that had the highest concentration of Black-owned businesses, the Fed found. ....

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