Hair Salon Owner Gives Haircuts and Financial Literacy Advice

SHREVEPORT, La. (KTAL/KMSS) – Over the past two years, COVID-19 restrictions and inflation have dealt a serious blow to small businesses in our area; business owners had to think outside the box to make sure their doors stayed open.

Nearly 200,000 businesses in the United States went bankrupt in the first year of the COVID-19 pandemic, according to a study by the Federal Reserve and the Small Businesses Administration.

Cedric Henderson’s business survived.

Legends Barbershop, a black-owned business in Hollywood’s Shreveport neighborhood, has been open for six years.

“When it got real, it got very real. It impacted my business a lot. It took me from being able to really connect with my customers to a full-fledged shutdown,” said Henderson.

After navigating pandemic restrictions, Henderson’s hair salon faced another hurdle in 2020, a devastating fire.

“We sort of started from scratch, using different barbers,” said Kenneth Harris, a barber at Legends. “We had really started this shop from scratch; with new barbers, new chairs, new equipment and things like that.

Cedric says he pays now. He plans to provide more than a haircut to his clients, through a future investment group he hopes to train others in financial literacy.

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“It is certain people who can reach certain people. I feel like I’ll be able to reach some people that some politicians couldn’t get in touch with,” Henderson said. “So it’s my job in the community to let people know what’s going on, especially in our economy.”

If you’re a small business owner and want resources to grow your business and learn more about government contracts and finance, there’s a seminar in downtown Shreveport on Tuesday, May 10.