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Posted on October 28, 2007
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Community Improvement/Development
Recovery, Renewal, & Resiliency: Gulf Coast Small Businesses Two Years Later
Although signs of recovery along the Gulf Coast are increasingly evident, the benefits of that recovery are not being enjoyed by all groups equally, a new report from the Center for Competitive Credit finds. The report, Recovery, Renewal, & Resiliency: Gulf Coast Small Businesses Two Years Later (53 pages, PDF), contains the results from a survey of more than one thousand Gulf Coast small business owners and details the extent of small business recovery in the areas affected by hurricanes Katrina and Rita. According to the survey, Hispanic-owned businesses have fared best, with 60 percent earning the same or more revenue than before the hurricanes, while African American-owned businesses have fared the worst, with 78 percent reporting a decrease in income. The report was funded by the Ewing Marion Kauffman and Louisiana Disaster Recovery foundations, the Foundation for the Mid South, and the Brookings Institution, among others.
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