In 20-21, tax-prep company H&R Block surveyed nearly 3,000 small business owners to understand how they were faring amid the ongoing global health crisis.
The survey results revealed that 53% of Black business owners reported that their revenue had dropped by at least half compared to just 37 % of their white counterparts.
Research also suggests that even before the pandemic, Black business owners faced numerous challenges growing their businesses and gaining access to capital and other resources.
