Atlanta Fed and Kansas City Fed Community and Economic Development staff summarized findings from the Small Businesses of Color Recovery Guide. Guest speakers discussed their experiences as entrepreneurs or funders of small businesses of color.
The Atlanta Fed’s Community and Economic Development engagement team launched the Inclusive and Resilient Recovery initiative to support strategies for a more inclusive and resilient economic recovery. Partners Update reflects on the ongoing webinar series and the goals of this initiative.
The history of discriminatory policies leaves many Black and Hispanic people less resilient in the face of the economic shock caused by the pandemic. Partners Update examines this history's connections to household financial resilience.
Speakers from organizations that support small businesses and entrepreneurship discussed the challenges these businesses are facing during the pandemic. For instance, many small businesses of color were unable to tap government programs like the Paycheck Protection Program because they lacked an existing relationship with a bank. Atlanta Fed president Raphael Bostic moderated the discussion.