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Elevate Dayton

July 28, 2022

Dayton’s service providers continue to help BIPOC- and women-owned businesses survive the pandemic

Many women- and minority-owned businesses rely on specialized aid, including loans made possible by government programs. (Photo "Small business loans" by ccstbp is licensed under CC BY 2.0)

Experts project it will take years for businesses to fully recover from the pandemic.

By Malik Keith, Elevate Dayton

In 2012, Dayton was home to 4,275 women-owned firms, 3,664 minority-owned firms and 1,185 veteran-owned firms, according to the most recent Census data available, the majority of which are concentrated in industries that were disproportionately affected by the COVID-19 pandemic.

Many of those businesses have been able to survive and work back towards recovery thanks to an increase in specialized aid, outreach and other resources offered by local service providers that provide everything from consulting, training, business planning and networking to loans, grants and technical assistance. Examples include Small Business Development Centers, chambers of commerce, universities, libraries, co-ops, faith-based institutions and other nonprofits, but also local, state and federal agencies, banks, credit unions, and community development financial institutions.