Black Women Are Fastest Growing Group of Entrepreneurs in America

Black Women Are Fastest Growing Group of Entrepreneurs in America

The number of businesses owned by African-American women has skyrocketed by 322 percent between 1997 and 2015, according to the annual State of Women-Owned Businesses report.

Published July 2, 2015

Madame C.J. Walker, the first self-made millionaire in America, would be proud. The entrepreneurial spirit has spread rapidly among African-American women, with the number growing by 322 percent between 1997 and 2015, according to the 2015 State of Women-Owned Businesses Report.

Altogether, Black women own 1.3 million businesses in the U.S. African-American women make up the highest shares of women-owned businesses in Georgia, at 35 percent, Maryland, at 33 percent, and Illinois, at 22 percent, according to the report.

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Moreover, firms owned by African-American women employ close to 300,000 workers nationally. These businesses also generate $52.6 billion in revenue. Black women fully own half of all African-American-owned firms.

Round of applause for Black women taking charge and creating their own wealth. Venture capitalists need to pay attention to this trend.

Follow Natelege Whaley on Twitter: @Natelege_.

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(Photo: Rob Melnychuk/Corbis)

Written by Natelege Whaley

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