In 20-21, tax-prep company H&R Block surveyed nearly 3,000 small business owners to understand how they were faring amid the ongoing global health crisis.

The survey results revealed that 53% of Black business owners reported that their revenue had dropped by at least half compared to just 37 % of their white counterparts.

Research also suggests that even before the pandemic, Black business owners faced numerous challenges growing their businesses and gaining access to capital and other resources.

On Thursday’s edition of “Closer Look,” Michael Mitchell, the senior director of Brand and Studios at Mailchimp, and Aaron Fender, a co-founder and the CEO of Portrait Coffee, talked with program host Rose Scott about a new effort to close existing business gaps through “Bloom Season,” Mailchimp’s new digital guide for entrepreneurs of color.

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