Black women have been systematically pushed out of the labor force this year.
Unemployment rates for Black women rose from 6.7% to 7.5% between August and September, compared with just a 3.2% to 3.4% increase for white women.
For many, these numbers aren’t just statistics—they’re a signal. More Black women are turning to entrepreneurship to reclaim their agency, build wealth, and create opportunities on their own terms.
Becoming your own boss isn’t easy, but for Black women—the most educated demographic in the U.S.—it’s an opportunity to leverage our knowledge, skills, and networks in ways the corporate world often hasn’t. This roadmap will guide you from idea to action before January 1, with clarity, strategy, and calm.
Step 1: Get Clear on Your Why—The Real One
Before you file anything or tell the internet you’re booked and busy, pause. This is the moment to take a breath and get brutally honest with yourself about why you want to start this business. Not the polished version you’d put in a pitch deck, but the truth you’d share with your best friend during a long walk. Maybe you want more freedom in 2025. Maybe you’re tired of being overlooked at work. Maybe you simply want to use a talent that feels like ease instead of survival. Whatever it is, naming your “why” anchors you. When fear or doubt pops up—as it always does—your why becomes your grounding.
Step 2: Choose the Simplest Version of Your Business Idea
Black women are masters at doing the absolute most. And while that’s a superpower, it can also keep you stuck in planning mode. Instead of designing a full-blown empire, start with the simplest version of your idea.
If you want to become a coach, begin with one signature session or program. If you’re launching a product, just one hero item is enough. If you’re offering a service, start with one clear package that solves one clear problem. Your goal isn’t perfection—it’s proof of concept. The simpler your starting point, the faster you’ll move.
Step 3: Choose a Structure That Makes You Feel Legit and Protected
Once you know what you’re offering, it’s time to make it official. A sole proprietorship is the fastest way to get started. You can use your Social Security number, and sometimes just a local permit or a “doing business as” (DBA) registration, and you’re off. The catch? Your personal assets are tied to the business if anything goes sideways.
If you’re ready to level up, an LLC (Limited Liability Company) gives you legal protection and shows the world you mean business. Filing with your state and paying a small fee separates your personal assets from your business liabilities—and signals to clients, collaborators, and partners that you’re serious.
Once you choose your structure, apply for an Employer Identification Number (EIN). This is a unique, nine-digit federal tax identification number assigned by the Internal Revenue Service (IRS) to business entities operating in the United States. It is essentially a Social Security number for a business, used to identify the entity for tax purposes.
With your EIN, you can open a business bank account so your personal and business funds stay separate. And yes, go ahead and create a business email too. These small steps shift your identity from “I’m thinking about starting something” to “I’m an entrepreneur.”
Step 4: Price Based on Your Needs and Your Worth
Here’s where many of us start shrinking. Black women have been conditioned to undercharge, to minimize our expertise, or to treat our gifts as charity. Not here. Take a moment to look at the reality of your finances: what does it actually cost to live your life? Are you still carrying student loans, personal loans, credit card debt, and/or mortgage payments? How much do you want to save or invest next year? What energy, effort, and lived experience go into what you’re offering? Your price should make sense for your life and honor the value you bring. Choosing a number that supports your stability ensures that you’re not scrambling month after month to make ends meet.
Step 5: Create One Clear Offer and One Clear Call to Action
Before you build a website or start stressing over brand colors, get grounded in one essential question: what do you help people do? Write a single, simple statement that captures your work. Then decide what action you want people to take when they hear about your offer—whether it’s booking a call, joining a waitlist, or purchasing directly. This clarity keeps you from scattering your energy and helps your audience immediately understand how to work with you.
Step 6: Choose a Platform You Actually Enjoy
You don’t need to be everywhere. In fact, trying to be everywhere is a fast track to quitting before you begin. Instead, choose the platform where you naturally communicate best. Instagram if you love storytelling and vibes. TikTok if short, quick lessons feel effortless. LinkedIn, if you want to step into thought leadership. Email if a deeper connection is more your style. Commit to showing up consistently for the next 30 days—not perfectly, just consistently.
Step 7: Soft Launch to the People Who Already Believe in You
Your first clients—or first sales—won’t necessarily come from strangers. They’ll come from people who already trust you. Take a moment to intentionally and strategically share your work with your warm circle: friends, coworkers, sorors, and the group chat. Let them know what you do, who you help, and how they can connect people to you. Black women often underestimate how many folks are quietly rooting for us and looking for ways to support our dreams.
Step 8: Put Simple Money Systems in Place Early
Your business will feel easier—and more grounded—when you have basic financial systems in place. Set a weekly “money date” with yourself to check your income and expenses. Track what’s coming in and going out. Put aside a portion for taxes. And create a plan to pay yourself, even if it’s small at first. The more organized your money is on the backend, the more confident—and legitimate—you’ll feel on the frontend.
Step 9: Diversify Your Funding Sources
It’s a misconception that all of your business’s revenue will come from sales, especially in the first year. Starting a business often requires creative ways to fund your vision. Many Black women begin by bootstrapping, using personal savings or revenue from their businesses to grow and scale them without considering other options:
- Grants from governments, foundations, or nonprofits offer free money for specific purposes, though they can be competitive.
- Pitch competitions give entrepreneurs a chance to win cash or resources while gaining exposure, but the competition is fierce.
- Crowdsourcing or crowdfunding lets you raise money online from supporters in exchange for rewards or early access to products, helping build a community around your brand.
- Loans from banks or lenders provide capital you repay with interest, allowing you to retain ownership but taking on debt.
- Friends and family can be a source of support, offering flexible funding, though it requires clear communication to avoid straining relationships.
- Angel investors and venture capitalists invest in exchange for equity, giving you both funding and valuable connections, but at the cost of some ownership in your company.
Step 10: Outsource Early—Even If It’s Just for a Few Hours
One of the most liberating decisions you can make as a new entrepreneur is refusing to do everything yourself. Black women are often taught to carry entire systems on our backs, but your business doesn’t have to become another place where you overextend and under-receive.
Even if your budget is tight, outsourcing a few hours of help can create game-changing breathing room. Maybe that looks like hiring a virtual assistant to handle scheduling, a designer to set up your branding, or an accountant to get your books in order from day one. Those small investments free up your energy for the work only you can do—your ideas, your creativity, your leadership. Delegating early isn’t a luxury; it’s a strategy that helps your business grow without draining you.
Step 11: Celebrate Your First Win (Even If It’s Small)
So much of entrepreneurship is mental. Before your first big client or major revenue milestone, you’ll experience dozens of smaller wins: filing for your LLC, posting consistently, pitching yourself, and making your first $100. Celebrate them. Acknowledging progress builds self-trust, and self-trust is the fuel that keeps your business alive long before profit does.
We are the Ones We’ve Been Waiting For
When January arrives, and your business is officially in motion, remember that your goal is not to sprint—it’s to sustain. You are building something that should support your wellbeing, not break it. Allow yourself to learn, adjust, rest, and grow in ways that feel sustainable for you and your new business.
You don’t have to martyr yourself for success. You’re not just launching a business; you’re building a life that feels aligned, abundant, and deeply yours.
Kara Stevens is founder of The Frugal Feminista and author of heal your relationship with money and Unmasking the Strong Black Woman.