Screen Shot 2013-12-18 at 10.41.24 PMBlack women are often in the news for statistics that are negative, these numbers reflecting health care, education, and other disparities that disproportionately impact this segment. By contrast, a new study from the Center for American Progress, The State of Women of Color in the United States, illustrates the significant gains African-American women have made in the realm of business ownership.

Black-owned businesses make up the fastest-growing segment of women-owned businesses in America, according to the report. Plus, black women are starting businesses at a rate that is six-times that of the general population.

“Half of all African-American-owned businesses are owned by women, and among businesses owned by women of color, 42 percent are owned by African-American women,” wrote Farah Ahmad of theCenter for American Progress. “Businesses owned by African-American women have doubled their sales over the past decade and just this year have grossed revenues estimated to be around $45 billion. These successes have benefited not just African-American women and their families but also their communities and the U.S. economy as a whole.”

The need for greater opportunities

Ahmad points to these types of gains as crucial to developing economic opportunities for women of color, who will make up the majority of all American women in the coming years, but are lagging among personal financial security indicators. These factors include job training, educational attainment, and levels of family wealth.

Yet, 53.3 percent of wives are the breadwinners among married black households, meaning that the growth of black woman-owned businesses may be crucial to the fiscal well-being of the black community overall.

In addition, starting their own companies is a means for black women to avoid the barriers of the corporate world that prevent advancement.

(Continue Reading @ The Grio…)

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  • eve-audrey

    Wow i’m not african american but i am so glad to read this! You rock ladies! I know everything is not perfect but i see hope for improvement when i read news like these (yes i’m a naturally optimistic person) talking about black women breaking news what about sending this to don lemon so that he can tell america good news about black america? Lol just kidding

  • 9Boots

    Good Job Black Women!!!! Let’s keep it up! They ain’t seen nothing yet.

  • LN

    I’m a black female entrepreneur!!! I’m so encouraged to see this article!!! Quite a few of my black female acquaintances run businesses either full time or part time. What I find is that the black female community is so under-served that there are many opportunities to start relevant businesses. I’ve run my business for 5 years now and it’s thriving! I feel so blessed and lucky. We are taking something negative — mainstream culture’s ignoring of black women — and turning it into something positive — an opportunity for us to build businesses and serve ourselves.

  • Felicia

    Yes we can! Yes we can!