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Heard on the Street: small businesses’ dependence on Facebook, minority-owned businesses see uneven pandemic recovery, and more

By October 12, 2021Heard on the Street

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

After massive outage, small-business owners lament — and reconsider — dependence on Facebook: Monday’s outage led many business owners and policymakers to consider how essential the company is to small businesses — and what risk they carry in depending so heavily on one platform for their livelihoods.

Small businesses navigate ever-changing COVID-19 reality: Navigating ever-changing coronavirus reality comes with a number of risks, from financial hardship to offending customers to straining workers. Those challenges could intensify as winter approaches and outdoor alternatives become limited.

Minority-owned businesses grapple with uneven pandemic recovery: The Covid-19 pandemic’s impact on minority-owned businesses has been disproportionate – and the uneven economic recovery has unearthed even more disparities.

Financial inclusion, capital access essential for small businesses: The CUNA-supported Expanding Financial Access for Underserved Communities Act would ensure small businesses would be able to access the capital they need, CUNA wrote to the House Small Business Committee Thursday.