Question

What general economic pattern did Black businesses experience during the 1970s and 1980s? rapid decline stagnation slight decline growth

Answer 1

During the 1970s and 1980s, Black businesses generally experienced stagnation, along with some areas of slight decline. This period was marked by various economic challenges, including the impact of inflation, competition, and limited access to capital and resources, which hindered the growth of many Black-owned businesses. While there were also instances of growth in specific sectors and cities, the overall trend for Black businesses during this timeframe was characterized more by stagnation and challenges rather than robust growth.