Black women are proving that they’re a force to be reckoned with in the world of business. A new study has revealed that black women are the fastest growing entrepreneurs in the United States.
Over the last 20 years, Black women owned businesses have grown by over 300%. In the 2015 State of Women-Owned Businesses Report released this week, women-owned businesses grew by 74% between 1997 and 2015. The reported also noted that Black women owned businesses are outpacing all other women owned businesses. The number of black women-owned businesses has grown by a whopping 322% since 1997.
The report shows that Black women own 14% of all businesses in the country that are woman owned, for a total of 1.3 million businesses. ”
While nationally African-American women comprise 14 per cent of all women-owned firms, African American women comprise a greater than average share of all women-owned firms in Georgia, Maryland, and Illinois,” the report said.