Number of working black business owners falls 40 percent, far more than other groups amid coronavirus

The number of working African American business owners in the United States plummeted more than 40 percent as the coronavirus shut down much of the economy — a far steeper drop than other racial groups experienced, according to an analysis confirming fears the pandemic would deepen inequalities in the business world.

Closures and social distancing to slow the virus’s spread have taken a disastrous toll across racial groups, with the total number of active business owners dropping 22 percent from February to April, based on granular data from the federal government’s employment surveys that was made available last week. But minority-owned businesses have suffered disproportionately in a crisis that’s also killing nonwhite Americans at higher rates and eliminating more of their jobs.

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Source: The Washington Post