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From Brownsville and Bushwick to Sunset Park and Sheepshead Bay, Brooklyn is home to a vibrant mix of immigrant- and minority-owned businesses. Roughly half of all Brooklyn businesses are owned by immigrants, and nearly one-third are minority-owned—including the largest number of Black-owned businesses of any borough. But despite major gains in recent years, these businesses have suffered stunning losses amid the COVID-19 pandemic. While some are pivoting quickly to survive, many others have been pushed to the brink, as revenues plunge and government relief remains difficult to access and often insufficient. At the same time, these businesses faced a number of growing challenges even before the crisis, which makes the road to recovery more uncertain.
This solutions-oriented discussion dove into the specific challenges facing Brooklyn's immigrant- and minority-owned businesses and explored what can be done to help these entrepreneurs navigate the crisis and come back strong. The second in a three-part virtual forum series, the live-streamed discussion examined what tools and strategies city and state policymakers, community and business leaders, and business owners and patrons can employ to boost this crucial anchor of the borough's economy.
Center for an Urban Future is a catalyst for smart and sustainable policies that reduce inequality, increase economic mobility, and grow the economy in NYC.
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