“ Small businesses employ half of the U.S. private-sector workforce and create two-thirds of all net new American jobs. ”
From plunging revenues to shuttered storefronts, it’s no secret that the COVID-19 public health crisis has driven too many small businesses to the brink of collapse. An estimated 100,000 small businesses across the country have already closed their doors permanently. And Black business owners, who largely run sole proprietorships or small businesses, have declined by 41%.
As the U.S. economy begins to reopen, it’s critical that policies are