The pandemic saw a boom in new Black-owned businesses — the largest surge in the last quarter-century

“This is the not the first time there’s been a push toward Black business, usually after a nationwide recognition that there is an injustice,” said Mehrsa Baradaran, a UC Irvine law professor who has written extensively about banking and the racial wealth gap. She sees hope in how the Biden administration has put social and racial equity at the forefront of its COVID-19 relief and other economic policies. The president has promised billions for funding and training to develop and grow Black and other minority entrepreneurs.