Black women are the fastest growing group of entrepreneurs in the U.S. What do you think it takes to run your own business?
Black women stay winning!
According to Fortune, Black women are the fastest growing group of entrepreneurs in the U.S. with a whopping 322% increase in businesses owned since 1997.
The number of overall women businesses grew by 74% between 1997 and 2015 or 1.5 times the national rate.
Women now own 30% of all businesses in the U.S. with Black women controlling about 1.3 million ( or 14%) of those companies.
“The only bright spot in recent years with respect to privately-held company job growth has been among women-owned firms,” according to the report. Women-owned businesses have added an estimated 340,000 jobs to the economy since 2007, while employment at companies owned by men (or with equally shared ownership) has declined.
Owning your own business is an amazing feat that more and more Black women are able to experience, but it’s not for everyone.
What traits do you think are necessary to get a business up and running? Is it discipline? Work ethic? Networking skills? Let us know your thoughts!
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