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Heard on the Street: a burst in entrepreneurship, small business financial gains, supporting CDFIs, and more

By December 6, 2021December 7th, 2021Heard on the Street

Heard on the Street – here’s what we were reading last week:

Workers Quit Jobs in Droves to Become Their Own Bosses: The pandemic has unleashed a historic burst in entrepreneurship and self-employment. Hundreds of thousands of Americans are striking out on their own as consultants, retailers and small-business owners.

Small Businesses Make Financial Gains, Closing the Gap with Large Businesses: The gap in financial health between smaller and larger businesses is narrowing, with smaller businesses seeing greater financial improvement, and 67% of businesses report financial improvement vs 44% at this time last year.

CDFIs have proven they’re the right tool to help small business, let’s give them what they need to do the job: CDFIs have gained widespread recognition for stepping up throughout the pandemic to effectively help millions of America’s smallest businesses hang on. They stand poised to broaden their impact over the long term, and as their name suggests, they are community-based.

Thriving Black-owned businesses ‘righting the wrongs of the past’ in rural Mississippi: In this isolated corner of the country, the odds are still stacked against Black women particularly.  Yet today there are a growing number of small, economic bright spots, due in part to a grassroots effort that’s trying to right some of the wrongs of the past.