OneUnited Bank, one of many largest Black-owned banks in America, skilled a large increase of new clients, main them to concern several messages apologizing to clients about the increased response occasions. From May 25 to July 10, there were more than 2.5 million searches for Black-owned businesses on Yelp, compared to about 35,000 over the same time period final yr — a surprising 7,043% enhance. Searches for Black-owned restaurants skyrocketed 2,508% and Black-owned bookstores jumped 1,437% compared to final yr.
Federal Reserve Bank of New York research from April showed just one in five healthy small firms had enough cash reserves to continue regular operations in the event that they experienced a two-month revenue loss. Mike and Therese Brunetti stand in entrance of Brunetti’s Pizza and Deli, a household business since 1958, which shut down after the monetary hit from COVID-19. The Bank of England governor, Andrew Bailey, warned that … Read MoreRead More »