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LGBTQ Small Business Recovery Survey

By Charlotte Robinson, June 08, 2021

CNBC announced the results of the first LGBTQ Small Business Owner Financial Health Survey that was conducted in partnership with Acorns & the National LGBT Chamber of Commerce. The survey took the financial pulse of LGBTQ entrepreneurs to learn more about how they manage their personal & business finances & the specific obstacles they face based on their sexual & gender identity. The survey also addressed topics from emergency savings to business succession plans to post-COVID small business confidence. Not only did the pandemic take a significant toll on many of those in the small business community, nearly one-third of LGBTQ small business owners say they lost 50% of their business as a result of COVID. However nearly 80% of those surveyed say they expect to make a full recovery next year. Justin Nelson & Chance Mitchell NGLCC Co-Founders stated, “The LGBT business community is thriving, despite both the economic impacts of the pandemic & the forces of inequality & discrimination that are still far too prevalent in America. As the business voice & certifying body for LGBT-owned companies throughout the country, we are so proud to partner with CNBC to highlight the resilience of LGBT entrepreneurs from coast to coast. The confidence in the economic recovery ahead demonstrated in this survey by our network of LGBT business owners should give us all hope for better days ahead. This groundbreaking survey further proves our NGLCC philosophy that economic visibility, just like social visibility, is essential in building a diverse and inclusive society.” The survey results will also be highlighted during a LinkedIn Live event, Invest in Pride: Ready. Set. Grow.. hosted by Invest in You on Thursday, June 17th at 1P ET moderated by CNBC Small Business Reporter Kate Rogers & featuring personal finance expert & bestselling author Suze Orman. For More Info… 

Hear Audio Chats w/ LGBTQ Leaders @OUTTAKE VOICES™

 

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