October 27, 2020         
Online Celebration to Honor Esther Rolle's Centennial Birthday   •   BDO Survey: Blacks Reveal Why They Would Take the Vaccine   •   POPSUGAR Launches New Women’s Health Destination, “Full Disclosure,” in Collaboration With TherapeuticsMD   •   Belcampo Meat Co. Launches New Ready-to-Eat Organic Carnitas and Organic Meatballs   •   Colleen Burns Shares Advice With Busy Moms on Tips on TV Blog   •   Gillette® Global Survey Reveals Men Are More Focused on Sustainability as Result of COVID-19   •   Carolina Laser & Cosmetic Center to Offer Military Veterans a FREE Laser Tattoo Removal Session this Veterans Day   •   Events May Have Been Canceled, but You Can't Cancel Hunger   •   Entertainment Industry Enlists Veterans in Media & Entertainment (VME) to Host Virtual Summit   •   1, 2 Nina's Coming For You! Nina Wests' HEELS OF HORROR Debuts In Just 2 Days!   •   The Little Company That Could: Houston-Based Certified Woman-Owned AGS Solutions Gets Creative to Fulfill Special Order of Disin   •   The Oncology Institute of Hope and Innovation Treats Its 150,000th Patient as It Commemorates Breast Cancer Awareness Month   •   Echosens Supports October 2020 Liver Cancer Awareness Month: Cites Link to Nonalcoholic Fatty Liver Disease and Importance of Ea   •   SkinnyDipped Launches New Line of Thinly Dipped Peanuts   •   FIBRA Prologis Appoints Carlos Elizondo Mayer-Serra as a New Independent Member of the Technical Committee   •   RealTalk for Business Growth Launches to Help Women Entrepreneurs Thrive   •   Superstrata Store Opens for Custom 3D-Printed Carbon Fiber Bikes   •   U.S. News Names Best Nursing Homes for 2020-21   •   Proposition 21 Trailing by Double Digits in UC Berkeley Poll   •   First Ever Women CEOs in America Report Released The Portrait and Profile of Women CEOs and Our Call to Action
Bookmark and Share

SCORE Data Report Highlights Impact of COVID-19 on Hispanic-Owned Small Businesses

SCORE Data Report Highlights Impact of COVID-19 on Hispanic-Owned Small Businesses

Only 6.7% of Hispanic-owned businesses report profitability and growth

PR Newswire

WASHINGTON, Sept. 22, 2020 /PRNewswire/ -- Hispanic small business owners have been especially impacted by COVID-19 due to lack of childcare, remote work and direct relationships with those diagnosed with the virus, according to new survey data published by SCORE, the nation's largest network of volunteer, expert business mentors. This data report and accompanying infographic are released in honor of National Hispanic Heritage Month (Sept. 15Oct. 15) and National Small Business Week (Sept. 21-25).

Experience the interactive Multichannel News Release here: https://www.multivu.com/players/English/8778351-score-hispanic-businesses-covid-19-impact/  

SCORE Data Report Highlights Impact of COVID-19 on Hispanic-Owned Small Businesses

Hispanic entrepreneurs are the fastest-growing segment of business owners in the U.S. While the number of Hispanic-owned small businesses has been increasing since 2013, data shows that minority-owned small businesses, specifically, Hispanic- and Black-owned small businesses, have been disproportionately affected by the COVID-19 pandemic.

"In this fifth edition of The Megaphone of Main Street data report, we explored how the pandemic has impacted small businesses, with a specific focus on Black and Hispanic-owned businesses," said SCORE CEO Bridget Weston. "We also recently launched the Hispanic Small Business Hub to better support our nation's 4.6 million Hispanic-owned small businesses. SCORE understands that a thriving, healthy eco-system for minority-owned businesses is crucial for broader economic growth and opportunity."

Key findings of COVID-19's impact on Hispanic-owned small businesses include:

  • Hispanic-owned businesses were more likely to seek – but less likely to receive – outside funding from non-governmental sources, including expanded lines of credit and new loans, compared to White-owned businesses.
  • For example, while 28.4% of Hispanic business owners sought new investors, no survey respondents reported success.
  • Hispanic-owned businesses were also more likely to seek – but less likely to receive – government funding, including PPP, EIDL and SBA loans.

Click here to access full Megaphone of Main Street data report: The Impact of COVID-19.

About SCORE

Since 1964, SCORE has helped 11 million entrepreneurs to start or grow a business. SCORE's 10,000 volunteers provide free mentoring, workshops and educational services to 1,500+ communities nationwide, creating 29,681 new businesses and 67,706 non-owner jobs in 2019 alone. Visit SCORE at www.score.org. Follow @SCOREMentors on FacebookInstagram and Twitter.

Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All opinions, conclusions, and/or recommendations expressed herein are those of the author(s) and do not necessarily reflect the views of the SBA.

Contact

Betsy Dougert 

SCORE

800-634-0245 

media@score.org

SCORE_Logo

 

Cision View original content:http://www.prnewswire.com/news-releases/score-data-report-highlights-impact-of-covid-19-on-hispanic-owned-small-businesses-301135763.html

SOURCE SCORE



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News