Last year looks like an inflection point for entrepreneurs of color, both in the Mahoning Valley and across the country. Several storylines of 2020 – the coronavirus pandemic, discussions about racial equity and new efforts to support small businesses – converged to create an environment that led to greater attention on minority-owned businesses and what help they need to succeed.

At a personal level, not having relationships with a bank can hamper business, says Premier Bank vice president and community development officer Lee Fields.

“Once you start talking to people about their issues – whether it’s financial education or anything else – you start to realize how many people don’t have checking accounts or saving accounts,” he says. “It’s a matter of trust. Once you start to build that, it helps with long-term success.”