Entrepreneurship boomed in these predominantly Black neighborhoods during pandemic

The thought of starting her own business never crossed Destiny McCoy's mind — until she lost her nonprofit job during the height of the coronavirus pandemic. 

McCoy's departure gave her so much anxiety that she went to see a therapist, she told CBS MoneyWatch. The therapy session sparked an idea that would become McCoy's mental health company, Wellness for the Culture, which McCoy, 33, and co-founder Oyinda Adebo, 27, started last July. Their venture has performed so well in the past year that McCoy said its income keeps her bills paid.  McCoy is not alone in her newfound success as an entrepreneur. Research released last month from a team of university economists found that several cities with predominantly Black populations saw their rate of new business creation skyrocket during the pandemic, more so than cities with lower Black populations, even as hundreds of thousands of Black-owned businesses were closing for good.