Opinion: Rethinking the role of nonprofits in fight for racial and economic justice
According to areport by the House Small Business Committee, Black business ownership dropped more than 40% between February and April of 2020 during the pandemic – the largest of any racial group. Additionally,only 29% of Black-owned businesses successfully received federal relief through the Paycheck Protection Program, compared to 60% of white-owned businesses.
We have all seen the realities of these disparities firsthand. That’s why we need to build a nonprofit ecosystem in New York that is proudly committed to racial equity – one where we all make it a priority to proactively examine and identify greater opportunities for us to make it as employers and business leaders in the neighborhoods we serve.