In this episode of News Too Real, producer host Julia Dudley Najieb reviews the crisis for ethnic, small businesses after the pandemic caused a shutdown of the entire economy; 41 percent of Black businesses nationwide have shut down since the beginning of the pandemic until now.
The U.S. is home to more than four million minority-owned companies in the United States, with annual sales totaling close to $700 billion. As the COVID-19 pandemic hit, many small enterprises had to rapidly reshuffle their business models; 200,000 businesses permanently shut down.
How will mom-and-pop Main Street America emerge from this crisis; will small businesses catch the wave of the expected economic boom, or continue to tread water to stay afloat?
Three experts address this problem head-on: Lendistry CEO Everett Sands; historic Washington D.C. business owner, Virginia Ali and Congressman Ro Khanna.