Greater Los Angeles African American Chamber of Commerce Committed To Creating a Pipeline For The Next Generation of Black Entrepreneurs

The global pandemic caused a paradigm shift for Black small business owners that will reverberate for generations. During the COVID-19 shutdown, four out of ten black-owned businesses closed, a rate that was double the closure rate of white-owned businesses.

However, even as established businesses permanently shut their doors, there was a marked uptick in the number of Blacks opening new businesses.

According to a recently released report on early stage entrepreneurship by the Kauffman Foundation, there were more new Black-owned businesses proportionate to the total population than at any time in the past 25 years.

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