The COVID-19 crisis has put thousands of small businesses, from high-growth startups to Main Street employers, out of business. Importantly, the economic impacts of COVID-19 have not been equal. Minority-owned businesses and very small businesses are disproportionately concentrated in the industries most heavily impacted by the COVID-19 crisis such as restaurants, retail stores, and personal services. As a result, encouraging entrepreneurship, making it more equitable, and improving access to the financial resources needed to start and maintain a business must be a priority for policymakers as the economy recovers.
