LAS VEGAS (KLAS) — During the pandemic, U.S. Census data shows Black-owned businesses closed twice as fast as other businesses but they also recovered faster.

The co-chair of Small Business for America’s Future said there are around 26,000 Black-owned businesses in Nevada and that is a number that rose dramatically, reflecting what’s happening around the country.

According to an analysis done by UC Santa Cruz, the number of Black business owners was 28% higher in the third quarter of 2021 than it was pre-pandemic.

In fact, multiple groups saw a jump. The number of white business owners was 5% higher in the third quarter of 2021 than in pre-pandemic, and the number of Latino entrepreneurs was 19% higher. But the biggest change was in Black communities.

“It comes out of survival and needs. So, if you can’t find a job at that time you decide to start your own firm, start your own business, there’s some excitement about entrepreneurship,” said Shaundell Newsome who is the co-chair of Small Business for America’s Future.

Twenty-two-year-old Amaya Edden is getting a jump start on her future as a business owner. She’s been working at Sumnu Marketing since she was 14.

“It’s been a lot of growing opportunities for me,” Edden said. “I’ve been getting familiar with the business and how to run it and how it operates.”

Her grandfather, Newsome, started the business in 2006.

“It’s just changing the whole landscape of what we saw. My father used to say something like ‘don’t get bitter, get better,” said Newsome. “It’s very important that the community and even the young people in our community get to see us.”

The Brookings Institute reports healthcare is where many of those new Black businesses are being created.

Although many Black entrepreneurs are starting businesses many of them are micro businesses which can be hard to keep afloat.

Newsome told 8 News Now the Minority Business Development Agency helps to fill gaps. 

“You need more resources that are going to add capital and not only capital but technical assistance,” Newsome said. “Because once you get the capital, now you have to start understanding how to run the business. You have to understand what the nuances are when you get in trouble and what you need to do.” 

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