Businesses dependent on person to person contact have suffered a huge loss during the Covid-19 pandemic. If you’re in the haircare, skincare on nail care industries, then the mandated closures have made it difficult to stay afloat. If no business is coming in, how can shop owners pay rent and continue to pay their employees?
If you’re a black owned business, consider the recovery after Covid-19 that much harder. Black-owned, woman-owned companies are growing at an alarming rate, putting us in the lead as far as birthing and managing small businesses. Unfortunately, we are widely underfunded. According to The 2019 American Express State of Women-Owned Business Report, “African-American businesses owned by women in this report earned an average $24,000 per firm vs. $142,900 among all women-owned businesses. This gap is “the greatest of any minority [group].”
For Black-owned, women-owned businesses that are already at a disadvantage under these statistics, imagine the impact Covid-19 has had on their company. For the businesses that are able to recover from the pandemic, reopening their salons look a bit differently. Safety precautions are at an all-time high to maintain the health of the patron and service provider. Some salons have inflated prices to compensate for PPE and loss of money for the months past.
Luckily not all heroes wear capes. Gold Series by Pantene and Royal Oils by Head & Shoulders partnered with the Salon Give Back program to introduce a new initiative that will support Black female salon owners and hairstylists. Twenty lucky women will receive $10,000 to help keep their businesses open.
“Royal Oils and Gold Series are committed to helping salons reopen and rebuild after the pandemic and remain dedicated to elevating and supporting Black women through entrepreneurship,” the brands said in a statement.
It is great to see larger companies assist small business owners during these very difficult times. The winners will be announced on July 15th.
Royal Oils and Gold Series Offer A 10K Grant to 20 Black Female Salon Owners And Hairstylists was originally published on hellobeautiful.com