BLACK WOMEN ARE LEADING THE WAY

When it comes to building a strong economy, small businesses play a critical role. And when it comes to small businesses, Black women-owned businesses are making a significant impact.

Economic Impact

​Their businesses are diverse, ranging from beauty salons to tech startups, and they are proving that Black women can excel in any industry. They are breaking barriers, defying stereotypes, and showing that anything is possible with hard work and determination. At our organization, we are committed to promoting and supporting Black women-owned businesses. By highlighting their achievements and contributions, we can inspire others to pursue their entrepreneurial dreams and positively impact their communities.

Black women are starting businesses faster than any other group in the country. They are entrepreneurs, innovators, and job creators. Their contributions to the economy are invaluable, and their impact is felt in communities across the nation.
But it's not just about the numbers. It's about the stories too. Black women entrepreneurs often face unique challenges, from access to capital to discrimination. But despite these obstacles, they continue to persevere and succeed. Their determination and resilience are truly inspiring.

By The Numbers

• Black women are the fastest-growing group of entrepreneurs in the United States. According to a report by American Express, the number of Black women-owned businesses increased by 164% between 2007 and 2018, compared to an increase of 42% for all women-owned businesses.
• Black women-owned businesses generated $44 billion in revenue in 2018, according to the State of Women-Owned Businesses Report.​

Challenges

Black women-owned businesses are also more likely to be located in low-income communities and to serve those communities. A report by the Insight Center for Community Economic Development found that Black women-owned businesses are more likely to be located in neighborhoods with poverty rates above 20%.
​
However, despite the increase in the number of Black women-owned businesses, they still face significant barriers to accessing capital and other resources. According to the National Women's Business Council, Black women-owned businesses are far less likely to receive funding from venture capitalists or angel investors compared to their white counterparts.

How Can you Help?

---

1. Shop at minority-owned businesses: One of the most direct ways to support minority-owned businesses is by making purchases from them. Look for local minority-owned businesses in your area and make a conscious effort to shop there.
2. Share and promote their business: Share the business on your social media, write reviews, or refer them to your friends and family. Word of mouth is a powerful tool and can help these businesses gain more visibility and customers.
3. Invest in them: Investing in minority-owned businesses is a way to provide financial support and help these businesses grow. You can invest directly in the business, or you can invest in funds that focus on minority-owned businesses.
4. Support organizations that support minority-owned businesses: Many organizations are working to support and promote minority-owned businesses. You can support these organizations by volunteering your time, making a donation, or becoming a member.​
5. Use your professional skills to help: Many minority-owned businesses may lack the resources or expertise to grow their business. If you have a specific skill set that can help, consider offering your services pro bono or at a reduced rate.
   6.  Support government policies that promote minority-owned businesses: Research and support government policies and initiatives that promote minority-owned businesses, such as procurement programs, tax incentives, and grants.​
   

Your Support Matters

So let's celebrate the amazing Black women entrepreneurs who are making their mark in the business world today, and let's work together to create a future where everyone can succeed.​ It's important to remember that supporting minority-owned businesses is not just a one-time thing, it's a continuous effort that requires commitment and consistency.

Donate Today