BRAC to assess impact of coronavirus on Black-owned businesses
The Baton Rouge Area Chamber launched a survey this afternoon to assess the economic impact of the novel coronavirus on Black-owned businesses in the Capital Region and to identify barriers to recovery.
Currently, data of COVID-19’s economic impact on Black-owned businesses does not exist at a regional or national level, BRAC said. It has been widely reported that the virus has had devastating impacts on Black communities throughout the country.
The survey, modeled after the U.S. Census Bureau’s weekly Small Business Pulse Survey, will allow BRAC and its partners to compare the regional data to a national small business “norm.” With the results, the agency aims to address the barriers to recovery for Black-owned businesses and to uncover disparate impacts of the stay-at-home orders and restrictions.
“We know, for example, that minority-owned businesses have not applied for federal relief funding at rates equivalent to white-owned businesses,” said Adam Knapp, president and CEO of BRAC. “We need to know what the specific challenges are, so that we can recommend and implement specific solutions. Meaningful progress around economic inclusion and recovery relies a good deal on meaningful data.”