A new poll by the advocacy group Small Business Majority shows small business owners of color continue to face closures nearly a year into the pandemic. They keep facing major revenue losses. As such, many have found it hard to stay solvent. Some 32% have cut employee hours and 24% have shut down. Sixty percent have not replenished their headcount to pre-pandemic levels after cutting staff last year.
Small Business News
Los dueños de pequeños negocios latinos están sufriendo más los impactos por la crisis del Covid-19 que los empresarios blancos, reveló un estudio de Small Business Majority.
Listen to KCBS All News 106.9FM and 740AM, a News radio station in the San Francisco Bay Area. Never miss a story or breaking news alert! Mark Herbert, says a lot of people who lost their jobs during the pandemic are starting their own businesses. The big question is how many jobs these companies will be creating.
Geri Aglipay, the Midwest director of the Small Business Majority small business advocacy group, will cover subjects such as the new round of Paycheck Protection Program loans and what's changed since it was first rolled out early on the pandemic last year. She will go over the U.S. Small Business Administration Debt Relief Program, advance grants from the Economic Injury Disaster Loan program, and additional resources that might help them survive the COVID-19 pandemic.
Why are more people taking the plunge and launching ventures during a global pandemic? Experts aren’t sure. “It’s a significant increase,” said Mark Herbert, vice president in California for Small Business Majority, a national organization advocating for small businesses. “It’s something we’ve been tracking and we have more questions than answers at this point.”
Many of California’s 700,000 small businesses are in the same sinking boat. Even with federal relief, countless businesses have already called it quits. A poll commissioned by the Small Business Majority of 418 California small-business owners in November found that about 15% were facing permanent closure in three months. More than 20% said they would probably be forced to lay off workers, and 32% expected to cut employee hours. And this was before the stricter pandemic orders were issued in December.
La pandemia está golpeando fuerte a las pequeñas empresas latinas en Estados Unidos y se anticipa que recurrirán a nuevos recortes de personal para sostenerse ante la crisis económica causada por el COVID-19, mientras que otras cerrarán sus puertas, según una encuesta nacional de Small Business Majority.
A recent study by Small Business Majority says the pandemic has disproportionately impacted minority-owned small businesses.
The study, done found that 60% of those businesses have not returned their headcounts to pre-pandemic levels. While 22% of business owners of color may lay off employees permanently, that’s compared to 14% of their white counterparts.
"We're going to continue to do a lot of advocacy, reminding [skeptics] that small businesses support this kind of measure," said Awesta Sarkash, government affairs manager for Small Business Majority. "It helps them attract employees and compete with bigger entities."
The Apprenticeship Hubs Across America Act is endorsed by the American Federation of Labor and Congress of Industrial Organizations (AFL-CIO), North America’s Building Trades Unions (NABTU), Jobs for the Future, Third Way, New America, Chamber of Commerce for Greater Philadelphia, Small Business Majority, and Delaware Pathways.