Together for LA
Report on how Business and Economic Development Leaders respond to this and future crises
The COVID-19 pandemic of 2020 has not only been a public health disaster, it has caused massive social and economic fallout throughout the United States and the rest of the world. The importance of small business to the region has been widely recognized by both the public and private sectors. Combined, local government, businesses, and community foundations have mobilized more than $204 million dollars toward COVID-19 small business relief efforts to date. This is the single largest metropolitan small business relief effort in the United States, followed by Chicago, New York, Miami, and Dallas.
Made possible thanks to the generous support of Wells Fargo, Together For LA: First Report on LA’s COVID-19 Small Business Response captures how this response has evolved, identifies key challenges, and provides insights and recommendations from a diverse range of small business owners and leading economic recovery assistance providers in Los Angeles.
Unemployment in LA County reached a high point of 21.1% in May with 716,000 jobs lost to date. As of October data, the unemployment rate had declined to 12.3 percent, a significant recovery, but still historically high. Much more needs to be done and the situation is tenuous for most small businesses in the region. Over 140,000 small businesses have applied for assistance to date in the LA region.
This report covers the challenges identified by public and private sector economic responders, and offers recommended next steps to increase the resilience of the small business community and the broader economy.
READ THE REPORT
Resources for Small Businesses:
Women Owned Businesses:
Black Women Owned Businesses:
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Military Owned Businesses:
Asian Owned Businesses: