Small business losses largest on record; African American-owned businesses especially hard hit

New research posted by the National Bureau of Economic Research documents small business losses between February and April. The paper finds that the number of small business owners dropped by 22 percent over the two-month period, far eclipsing the 5 percent drop during the Great Recession. Losses were especially high among small business owners who were African American (41 percent), Latinx (32 percent), and immigrant (36 percent). #covid-19 #racialequity