But there’s one oft-overlooked, yet fastest growing, segment of entrepreneurs who are fueling the rise of many new businesses and industries: black women.
Every day, but especially during Black History Month, it is important that we champion and celebrate black women entrepreneurs.
We salute you. We stand with you. We champion you. Today, this month, and every day.
There are2.4 millionsmall businesses owned by black women, making these women the only racial minority with more business ownership than their male peers.
“Black women represent 42% of new women-owned businesses—three times their share of the female population—and 36%of all Black-owned employer businesses.” - Forbes
“Nineteen percent of all employer-based businesses were female-led—but 36.1% of all Black-owned businesses were headed by women.” - USAFacts
“Majority Black women-owned firms grew 67% from 2007 to 2012, compared to 27% for all women, and 50%from 2014 to 2019, representing the highest growth rate of any female demographic during that time frame.” - Forbes
But black business women are among the hardest hit by the pandemic. We can’t let the rapid progress made over the last few decades get erased overnight.
One of the best ways we can show our support for black women is to shop at black women-owned businesses. And we need policies that encourage entrepreneurship instead those that kill small businesses. Let’s keep the momentum going!
