COVID and the Black Community: Supporting Black Businesses

On Tuesday April 7, New America Indy and The Indianapolis Recorder continued an online series on the impact of the COVID-19 crisis on the Black Community. In this second conversation, moderated by New America's Molly Martin and The Recorder's Marshawn Wolley, we were joined by:

• Imhotep Adisa Executive Director/Co-Founder, Kheprw Institute
• Vincent Ash Senior Project Manager, Indy Chamber
• The Honorable Robin Shackleford Indiana House of Representatives 98th District
• Taylor Simpson, Founder/CEO, Halo App
• Larry Williams President, Indy Black Chamber of Commerce

A few themes from the event:

• Don't overlook the cultural significance of Black businesses. Black businesses of all types have long served as cultural touchstones. Some businesses like personal care (barbers, stylists) and restaurants are particularly vulnerable during these times.
• Don't underestimate Black businesses. Having to succeed in the face of barriers, have to collaborate, having to innovate -- the Black community has a lot of role models for adaptation and resilience.
• Understand where, how and why to register your minority-owned business. Access aid and information, while helping to address the under-counting of Black-owned businesses. There is value in registering with city, state and federal entities as data is not shared across platforms. You can get in touch with the Indy Black Chamber for advice, assistance, and connection to resources (some pro bono).
• Data matters. Residents and business owners need access to and the capacity to collect data to ensure their own success and to hold people accountable [for a lack of contracts awarded to Black-owned businesses, for equitable distribution of resources].
• There is a "new normal." Businesses must adapt to the demands of e-commerce, online engagement, and physical adaptations for the remainder of the COVID crisis and beyond. Kheprw Institute has experience with and models of entrepreneurs taking innovative approaches to service and delivery. You can engage with Kheprw here.
• Banking, cash flow and predatory lending are on our minds. Some Black Americans have a fraught history with financial institutions due to the legacy of/continued discriminatory practices. Many Americans, period, are unbanked and minority Americans are more likely to be so. In a time when residents are worried about critical expenses, keeping jobs and paying bills--much less keeping businesses open--there is an opportunity for predatory lending practices. There is also, however, new opportunity to peer-to-peer lending, for considering loan forgiveness and flexible terms, and for grant-based assistance.

Resources shared by guests include:

• Thursday April 9, 4pm EST tune in for a small business town hall on the CARES Act, featuring Congressman Andre Carson
• Kheprw LEAD grant for local entrepreneurs and creatives
• Be Nimble Foundation
• LISC Indianapolis
• Indy Chamber Rapid Response Hub
• Halo App
• New America's work on the racialized costs of banking

You can watch the full session below and read the full transcript here.

We look forward to the next conversation and thank our co-hosts, The Indianapolis Recorder, and community partner WFYI Public Broadcasting.