75 percent of Black business owners have seen an increase in business and searches for Black-owned businesses on Groupon have also increased by more than 300 percent in that time.
41 percent of Black small businesses were forced to close permanently due to COVID-19 compared to just 17 percent of white-owned businesses and only 5 percent of those that applied for a Paycheck Protection Program loan received one.
Black business owners account for about 10 percent of U.S. businesses and about 30 percent of all minority-owned businesses.
“We’re thrilled to celebrate Black Business Month as this community has been disproportionately impacted by COVID-19 and traditionally suffers from a lack of access to adequate capital and resources,” said Aaron Cooper, Interim CEO, Groupon. “One of the many ways that we’re translating our support for Black Lives Matter into meaningful action is by highlighting and championing the success of Black-owned businesses and looking for more ways to connect them to our diverse customer base. We hope that everyone will join us in supporting the more than 2 million Black-owned businesses in this country at a time when they need us the most.”
Groupon is also partnering with Kiva.org, a nonprofit that allows people to lend money via the Internet to low-income entrepreneurs and students.
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