The pandemic has made it more difficult than ever for small businesses — many of them run by Americans of color — to get access to capital. That lack of capital is killing many of them. It also doesn’t help that it’s also creating obvious inequity — there are half as many community banks that are owned by black people in this country as there were 20 years ago, something the COVID-19 pandemic has put into stark relief.
We talked to two of the country’s smartest people on what we need to do to help entrepreneurs survive this crisis. Yes, part of it’s access to capital. But there’s more. We welcome you Inside the Minds of Bruce Katz, director of the Nowak Metro Finance Lab at Drexel University, and Melissa Roberts Chapman, an expert on kick-starting entrepreneurship for the Ewing Marion Kauffman Foundation.
Read the full article here: Smart City Futures, an interview with Bruce Katz and Melissa Roberts Chapman