5 Black Women Bosses Holding It Down And Making Space For Others
Black women entrepreneurs are starting businesses faster than any racial group.
September 21, 2020 at 6:44 am
With so much chaos going on in the world, from the upcoming election, protests still ongoing and COVID-19 still here, people are longing for something positive to feed off of. This year has definitely been unlike anything we have seen before, but like the old saying goes, "Where there’s a will, there’s a way."
While surveys done by the U.S. Chamber Of Commerce show that nearly 65% of businesses that are reopen fear the effect a second wave of COVID-19 could have on their businesses, some people are making the most out of this season, not letting anything stop them along the way.
According to American Express, Black female entrepreneurs are said to be starting businesses at the fastest clip of any racial group. With minority women controlling nearly 44% of women-owned businesses in the United States compared to their white counterparts, it's still very disheartening to know most of these Black-owned businesses by women of color are still denied credit or have a hard time accessing it. The Federal Reserve showed that only 2% of venture capital goes toward female funding, and an even smaller portion of that percentage is given to Black female entrepreneurs.
There is still some good to look forward to when it comes to supporting Black-owned women led businesses. Due to the peak of the pandemic, which was followed by the transition into the BLM movement, it helped boost awareness for Black-owned businesses, owners and individuals who weren’t getting the spotlight that they deserve. With B.O.B’s getting all the shine currently, female entrepreneurs are taking this moment to change the game and make their mark in the respective industries
From media, television, production, law, transportation and public relations, there's not a lane unfilled with Black women in it making their mark. Below are some women who have inspired me during this season, while respectively in different industries they are holding it down for the culture and making it easier for other women to step up to the plate and follow their lead.