Source: Forbes (2020)
The face of female entrepreneurship overall is becoming a lot less white. Black women represent 42% of new women-owned businesses—three times their share of the female population—and 36% of all Black-owned employer businesses.
High levels of educational attainment, coupled with overcoming barriers to corporate advancement, have prompted Black women to pursue entrepreneurship, where they’ve become a potent economic force. The majority of Black women-owned firms grew 67% from 2007 to 2012, compared to 27% for all women, and 50% from 2014 to 2019, representing the highest growth rate of any female demographic during that time frame.
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