(4 minutes read)
· African-American businesses in the United States are facing a
double whammy, which threatens to affect their continuation in
business.
· While they are struggling to put up with the fall out of the
Covid-19, the racial riots have struck, which paralyzed the operations
of several small enterprises including those run by the
Africa-Americans.
African-American businesses in the United States are facing a double
whammy, which threatens to affect their continuation in business.
While they are struggling to put up with the fall out of the Covid-19,
the racial riots have struck, which paralyzed the operations of
several small enterprises including those run by the Africa-Americans.
For many, it does not make financial sense to open the shops and are
feeling uncertainty over the situation. They feel that the pandemic
has exposed the racial inequalities since the African-Americans have
everything in less- be it capital, working capital or cash as
reserves. Many complain that African-American business owners can’t
even get a lease in a bustling locality, where there could be more
business and attract high-end business clientele. What they could do
is to continue with their businesses in disenfranchised or
underdeveloped places. They have a lurking fear that the situation is
precarious that it could wipe out whatever progress has been made
toward building black generational wealth.
The recent racial riots also gave a jolt to their enterprising spirit.
Amongst the general cacophony of uncertainties and widening wealth
gaps, which are said to be the major reasons for discontentment, there
are saner voices cajoling people to treat the present trajectory as a
passing one and focus more on the future. African-American leaders
including former president Barack Obama, while condemning the reasons
that precipitated the ongoing racial riots, called on the African
Americans to exercise restraint and not to complicate the issue.
