Skills for Change’s Spotlight Series – Black History Month: COVID-19 and Anti-Black Racism, A Double-Edged Sword for Black Entrepreneurs

 

 

Skills for Change Spotlight Series graphic. Suranna Sandy and Guests.

https://www.eventbrite.ca/e/covid-19-and-anti-black-racism-a-double-edged-sword-for-black-businesses-tickets-139553485231

The COVID-19 pandemic has disrupted lives and livelihoods. It has shed a spotlight on all inequities and exacerbated the already
longstanding systemic barriers through the glare of systemic racism and in particular, Anti-Black Racism and related inequities in
employment, resources and wealth that have further compounded socioeconomic inequities. The extreme experiences of Anti-Black
Racism have brought to the fore, the prominence of the Black Lives Matter movement and protests around the world calling out Anti-
Black Racism, raising heightened awareness about the rights of Black people and Black communities. This February, as we honor Black
History Month, reflecting on the profound traumas of Black History and honoring the remarkable contributions and struggles of Black
Canadians, it is a watershed moment to acknowledge the tremendous work still needed to address Anti-Black Racism. It is also an
opportunity to discuss the challenges caused by the pandemic unique to Black entrepreneurs, who, over the years, have strengthened
the Canadian economy and labour market.
Research has shown that the Black Canadian population across Canada has been greatly impacted by the COVID-19 pandemic. Black
Canadians face higher rates of unemployment and are over-represented in the industries like food and accommodation services that are
most affected by the pandemic. They are also over-represented in precarious employment in jobs that are at the greatest risk in the
work of the future. Research has also shown that Black people are pursuing self-employment and entrepreneurship due to the negative
experiences in the workplace caused by explicit racism, discrimination and microaggressions, and exclusion from employment.
The pandemic has been a harsh blow to Black entrepreneurs adversely affecting the scale and revenue of their businesses. Black
entrepreneurs have faced financial losses and challenges, the urgent need to invest in digitization to balance their stalled offline and
physically based business activities with online business, the lack of a stable customer-base exacerbated by the physical distancing norms
and series of lockdowns causing many businesses to shut down. Many Black entrepreneurs have also faced financial exclusion due to
biases at financial institutions making accessible financing a major hurdle for their businesses. In sum, Black entrepreneurs have been
sidelined by the systemic discrimination embedded in the institutions in the entrepreneurial ecosystem, ranging from education, finance,
business support, incubators and accelerators, and government funding. Moreover, there is also a lack of support in the ecosystem in
the form of encouragement, mentorship, sponsorship, and access to networks and information.
With the pandemic paralyzing Black-owned businesses, this has taken a mental health toll on Black entrepreneurs. Black women
entrepreneurs have been hardest hit faced with more disruptions in their businesses, picking up more of the childcare and household
responsibilities. As the Black Lives Matter movement gained momentum in 2020, it gave visibility to some Black-owned businesses
through the Buy Black-owned campaigns but many continue to struggle to stay afloat. These unique struggles of Black entrepreneurs
have led to the federal government extending aid to qualifying Black entrepreneurs. Questions still arise: is this enough? What polices
should be put in place to deconstruct systems that help perpetuate Anti-Black Racism? Can more loans truly help businesses already
experiencing financial constraints?
As Canada gears up for a reset, key discussions should be on how to build a more equitable future for Black entrepreneurs and providing
for the right business ecosystems that can mitigate or negate the effects of structural obstacles to business building for Black business
owners. The economic recovery policies should also take on board provisions to support Black-owned businesses and empower Black
entrepreneurs to become more resilient and equipped to offset entrepreneurial challenges.
Join us on February 23 to discuss challenges faced by Black entrepreneurs in the light of the COVID-19 pandemic and the existing Anti-
Black Racism and its magnified impact on Black-owned businesses and the economy. The session will highlight how Black entrepreneurs
are tackling the unique challenges to keep businesses afloat and explore ways to create sustainable change and a lasting legacy for Black
entrepreneurs to succeed and thrive. The session will bring together business leaders, innovators and changemakers to discuss solutions
and policies to support Black-owned businesses and create an equitable ecosystem. It will also call for concerted efforts by public-,
private-, and social-sector organizations to address Anti-Black Racism and the racial inequality and social injustice it spews and how to
close that gap.