Eighty-five percent of the survey respondents expect to go out of business within six months. On July 10, 2020, New York City Comptroller Scott M. Stringer released a comprehensive analysis of the economic hardships minority and women-owned enterprises (M/WBEs) are facing during the COVID-19 pandemic. In response to the survey findings, Comptroller Stringer announced new accountability measures to ensure the City is meeting its M/WBE goals.
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Mayor Signs Executive Order Supporting Minority and Women Owned Businesses
The City awarded over $3 billion in contracts to minority and women-owned businesses in FY19. The City is On July 28, 2020, Mayor Bill de Blasio signed Executive Order 59 to increase the City’s utilization of Minority and Women-Owned Businesses (M/WBEs), and also announced numerous programs with the Taskforce on Racial Inclusion and Equity that will connect Black and Latinx entrepreneurs to business opportunities.