Black businesses saw a boom under the Biden-Harris administration. Will they thrive under Trump?

In the final months of the Biden-Harris White House, the administration is touting significant gains for Black businesses over the past four years and working to ensure the successes will be cemented when President-elect Donald Trump and his administration take office. Isabel Guzman, the administrator of the Small Business Administration, told theGrio that the federal agency is working to “ensure that the legacy of Biden-Harris administration and these incredible reforms are stabilized and implemented and that we can see these gains into the future for all of us.” She added, “It’s the benefit of our entire economy.” Last week, the SBA celebrated a record number of business applications during President Joe Biden and Vice President Kamala Harris’ tenures — more than 20 million, the most in any single presidential term in U.S. history.  While it’s unclear how many of those 20 million businesses were Black-operated due to how the federal data is collected, the White House noted that the number of Black households (5% to 11%) and zip codes with predominantly Black populations that reported owning a small business had seen notable gains.  “There’s been some research that shows that small business applications have increased 198% in those districts where...