My problem can perhaps be illustrated by developments in another industry: record stores. This article describes the growth of black-owned record stores. But they are no more. Why? I agree that black-owned stores were more likely to fail than white-owned ones. The owners were probably less wealthy to start with, and faced bias in getting capital for their operation. To the extent they were focused on a niche market they may also have been more vulnerable. (I'm not sure that's right--it seems that independent booksellers often have survived in niches where the Border chain went under,but for the sake of argument I'll include that factor.
But a major factor in the decline of black-owned record stores is the change in demand--people don't want vinyl or CDs these days, or not enough do to sustain a lot of stores. I'd make the same observation about the type (and size) of farm operations black farmers were mostly engaged in during the last century.
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