COVID-19 has made the past year a struggle for all small-business owners, but it has had a particularly negative impact on Black-owned businesses, many of which have had to close permanently.
The Solano Small Business Development Center wants to help those business owners be able to rebuild or recoup their financial losses. The agency is part of the Northern California Small Business Development Center, which has just launched the Inclusivity Project.
The project, according to a Solano SBDC news release, provides free training opportunities and advice from experts. It also seeks to secure $100 million in funding for 1,000 Black-owned businesses in the area.
According to Solano SBDC statistics, there were more than 1 million recorded Black businesses in the United States in Feb. 2020. However, by the middle of April — a month after the federal stay-at-home order was issued in response to the virus — 40 percent of those businesses were estimated to have closed their doors for good.
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