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Minority-owned businesses fight to stay afloat during coronavirus pandemic

40% of African-American businesses have permanently closed, report says
Posted at 6:30 PM, Jun 26, 2020
and last updated 2020-06-26 19:42:50-04

BOYNTON BEACH, Fla. — A new report shows that many minority-owned businesses have been hit especially hard by the coronavirus pandemic.

Troy’s BBQ is a family business and a staple of Boynton Beach for more than 25 years.

SPECIAL COVERAGE: Rebound South Florida | Coronavirus

Owner Anthony Barber is getting back on track after his restaurant was closed for the pandemic earlier this year.

He said he recently brought back the positions he cut during the outbreak.

“We’ve been able to save money and put money to the side. Hopefully we won’t have to lay off employees if we’re facing with another shut down again,” said Barber.

Black Lives Matter lager
Troy's BBQ owner Anthony Barber created a Black Lives Matter lager to support the Black community.

However, there’s another concern that small businesses face -- especially those that are owned by minorities.

Research from the University of California at Santa Cruz shows about 40 percent of African-American businesses have had to close their doors for good this year.

Economists say businesses need to stay innovative to survive.

“Those of us that are going to make it through, we’re still going to have to do a lot of adapting we’re going to have to rethink and we need governments to adapt and adjust,” said Dr. Scott Pearson, an associate professor of finance at Palm Beach Atlantic University.

Barber said he is doing that and created a new beer with a special purpose.

“All of the proceeds from this beer will go directly to the Corey Jones Foundation, which funds scholarships and other initiatives that help the Black community and other young men that are positive in the community,” said Barber.

He’s advising other small businesses to stay optimistic.

“The No. 1 thing you can do in anything is seek advice and weigh it all, and see what works for you,” said Barber.