Last year, 1.1 million minority-owned small businesses employed 8.7 million workers, which generated over $1 trillion.
We must take inclusive steps to create investment opportunities for minority-owned small businesses, which will ultimately generate more quality jobs for all Pennsylvanians.
Some funds were “diverted from small businesses to ineligible businesses or even to criminals,” enriching the privileged few.
So why does this matter for Pennsylvanians that minority-owned small businesses face these barriers to capital during COVID-19?
Tax Credits: Expand the New Markets Tax Credit, an investment in minority-owned small businesses that are pre-approved as benefiting low- and moderate-income communities.