Small Businesses Face A Difficult Recovery, Many Won't Make It Out
The situation is dire for small businesses. Three out of four have sought federal aid to cope with the fallout from the coronavirus pandemic according to a Census Bureau survey. And in May, economists projected that more than 100,000 small businesses shuttered since the pandemic escalated in March.
African American-owned businesses disproportionately bear the burden of this crisis. More than 40 percent of black business owners reported they weren’t working in April. Only 17 percent of white small business owners said the same.
Joining Cincinnati Editionto discuss how small businesses in our region are struggling under the pandemic and what the recovery may look like for them are Greater Cincinnati and Northern Kentucky African American Chamber of Commerce President and CEO Eric Kearney; Cincinnati USA Regional Chamber Senior Vice President and Chief Operating Officer Brendon Cull; and Northern Kentucky Chamber of Commerce President Brent Cooper.
Listen to Cincinnati Edition live at noon M-F. Audio for this segment will be uploaded after 4 p.m. ET.
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