Black Entrepreneurs, Job Creation, and Financial Constraints
We document that Black-owned businesses tend to be more credit constrained than White-owned ones, leading to lower firm employment.
The Startup Surge? Unpacking 2020 Trends in Business Formation
Business applications were the highest on record in 2020—up 24 percent from the previous year. We document five key business formation trends we observed in the data.
Covid-19 Wipes Out Small Businesses in Poor Countries
Rizky Eka Valdano spent years building up his travel business, but the Covid-19 pandemic destroyed it in 10 months, echoing a plight that has played out across the developing world.
Despite the Pandemic’s Hit to Sales, Small Businesses Aren’t
New evidence shows that the pandemic’s effects have largely not—or at least not yet—translated into dramatically higher delinquencies or defaults among small businesses.
Half of small businesses unlikely to hire back workers they let go, report finds
Many businesses that closed during the pandemic may not be able to reopen.
Small Businesses Have Surged in Black Communities. Was It the Stimulus?
New research finds a big rise in new businesses despite the pandemic, particularly in predominantly Black neighborhoods.
Covid-19’s Toll on U.S. Business? 200,000 Extra Closures in Pandemic’s First Year
The economic toll from the pandemic has been tough to measure, but new estimates from the Federal Reserve suggest it wasn’t as bad as feared for smaller businesses.