Interesting Statistics Regarding African American Women Owned Businesses

I was curious about how many African American women businesses there was so I decided to do some research regarding this subject.  I found out some very interesting statistics about this subject.

The number of businesses owned by African American women grew by 322% since 1977 making black females the fastest growing group of entrepreneurs in the United States. That didn’t surprise me because more women are getting fed up with the corporate world and want to start their own business. The number of women owned firms grew 1.5 times the national average, and black women blew that statistic away.

Women now own 30% of all businesses in the US which makes up some 9.4 million firms. And African American women control 14% of those companies or 1.3 million businesses. Did you know that employment at companies owned by men has declined? That says a lot about the strength of women owned businesses.

When you take a look at those statistics you know women of color are impacted more significantly by all of the negative factors that women are faced with. It’s a no brainer that women have chosen to INVEST IN THEMSELVES.

 

Why do you think that African Americans are blowing away the statistics of owning their own business you ask? Okay since you asked I’ll tell you why. The reason why the growth in women-owned firms is so high is;

  • The lack of fair pay
  • Unfair promotion
  • Unfriendly family policies in Corporate America

 

It’s no secret that women are paid far less than men and probably work just as hard and long hours as men do. But when it comes to getting promoted or recognized, women are skipped over when competing against a man. It seems like women are not a part of the old boy’s network. And for family friendly policies how many times have you had to miss your son or daughter’s games or plays at school because you had to work late? Or you were too tired by the time you did get home from work all you wanted to do was go to sleep. Or by the time you got home from work everything was over because it was late at night. And with jobs being “at will” nowadays there is no such thing as job security anymore. I can’t begin to count how many times I have been “downsized” from jobs over the years. Or the company that you work for has been bought out by another company and you lose your job because the new company is bringing in their own people and have to let current employees go.

 

Women are launching businesses all across the country but the highest concentrations for black women owned business are in these 3 states; Georgia, Maryland and Illinois. But it shouldn’t matter what state you live in as far as starting a business is concerned. So tell me what do you think? Leave a comment below in the comment box and share this post.

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