March 25, 2020

13 Entrepreneurs Of Color Share How COVID-19 Has Impacted Their Business

By Janice Gassam

COVID-19, also known as the coronavirus, has had an unimaginable impact on the world thus far. While the full ramifications of the pandemic are yet to be seen, there are many consequences already being felt in a number of different industries. From restaurants to rideshare companies, many employees around the world are suffering right now. One of the most at-risk populations feeling the effects of COVID-19 are business owners—and for business owners of color, the challenges may be even more overwhelming. A wealth of evidence demonstrates the difficulties that entrepreneurs of color face when it comes to receiving business funding. In addition, the lack of financial backing from friends and family compared to their White counterparts presents considerable obstacles. These reasons, along with the limited access that many business owners of color have to successful entrepreneurs in their network, can make the journey more arduous. 13 business owners of color shared how COVID-19 has positively and negatively impacted their business thus far and what can be done to help their businesses thrive.