African-American women are killing it in business. Don’t believe me? Check the statistics.
According to the 2016 State of Women-Owned Businesses Report, “Between 2007 and 2016, the number of African-American women-owned firms increased by 112% – more than doubling in number and far out shadowing the overall 45% increase among all women-owned firms.” In other words, that means the number of female African-American entrepreneurs in America is far beyond the national average.
So, why are Black women shining in business? The report revealed that African-American women are more likely to create businesses in personal care such as cosmetology, health-care, and social services, such as owning a home-based daycare. It’s clear that while African-American women are thriving in the services sector, they’re severely underrepresented in the scientific and tech industries.
Digital Undivided, an organization focused on empowering Black female entrepreneurs, conducted a report in 2016 that revealed only 56% of Black women startup founders could receive outside funding.
Sarah Huny Young, a creative director in the tech industry, told Hello Beautiful why she believes there’s a lack of Black women in the tech industry. “It’s just because we aren’t what people envision when they hear creative director, web designer, developer, or programmer. And that’s because it’s more difficult for us to gain that kind of visibility when we don’t get invited to the table or presented with the opportunities our white counterparts are.”
Instead of coping with the astounding income inequality in the workforce, Black women are actively creating their own sources of income through their businesses. Through the internet, we are living in an age where starting a business couldn’t any be easier or accessible. African-American women are taking full advantage and making money on their own terms. Freelancing and internet marketing have become popular ways to break through some of the traditional barriers to entry and costs associated with starting a business.
Within this growing industry, Black women are showing up as bloggers/vloggers; Yes, some of the women in the beauty and hair videos on YouTube are making that good money. In addition, African-American women are independent graphic designers, writers, web designers, consultants, life/relationship coaches, and more.
As more Black women start their own businesses and find success working for themselves, it will create more opportunities, rising above the unequal corporate workforce income.
No matter what you are passionate about, there is a way to profit from it and create a potential business. If there is a business brewing inside of you, DO IT NOW. This is the perfect time to bring it to life!
Copyright ©2018 The Black Detour All Rights Reserved.