FERNANDINA BEACH, Fla — How's business doing at your favorite place to go on pay day?
Some local nonprofits and business owners are urging others to take advantage of money out there to help them. There are now types of grants that did not exist more than two years ago, aimed at helping minority business owners, who research shows took a bigger hit during the pandemic.
One business owner in Fernandina Beach was just awarded one.
"We are small and local," said Ming-Yu Wu, owner of Wicked Bao. "We want to be better, not bigger."
When you meet Wu, you may hear her talk about how much she loves Fernandina Beach.
"I love this place," she said. "Many of us come from places all over the world, all over the country, and we come together here because we love this community."
Nonprofits and companies are creating grants to help businesses run by people who are minorities. Research from the University of California Santa Cruz and U.S. Census Bureau data shows minority and women-owned businesses were hurt more at the start of the pandemic. Many were late to get money from the federal Paycheck Protection Program.
It was two years ago to the day when First Coast News visited Wicked Bao that Wu had to close up shop due to COVID-19 restrictions. This was on her mind when she applied for the grant that she won.
"I saw the link and I clicked on that," she said. "I say, I'm going to give you a try. Any grant is very helpful, big and small, but I think this is encouragement and recognition. They say, 'Hey, we are seen and our voices are heard.' I think that's the bigger impact than how much money we receive."
Wu says Wicked Bao is doing great.
"We have so many come in and say, 'We were here three years ago! We are back!'" she said. "And we are so happy to see them."
Things are also looking up for others as well. Research from the University of California Santa Cruz shows a nearly 40% increase in new Black business owners, which is almost back from what their earlier research said they'd dropped from.
"Support your neighbors, support local business and support each other," said Wu.
Business owners and nonprofits involved in grant applications encourage minority small business owners to take advantage of the grants available.
The grant that Wu was awarded was through Main Street America and American Express. They have another one out now, and the deadline to apply is Thursday at midnight. See information about that here.
Other grant programs include the Coalition to Back Black Businesses and Backing Historic Small Restaurants.