How to Support Black Womenpreneurs

Forbes shares that 36 percent of new businesses were started by Black women.

However, even though Black womenpreneurs lead any other racial group in starting or running new businesses, only 3 percent are considered “mature” businesses, reflecting their need for assistance and training.

Black womenpreneurs have been getting the short end of the stick and are not getting the help they need.

The story gets worse as we read through a report by the Center for American Progress that shows how women of color, especially Black women, fall short in almost every area, whether it be health, careers, politics, or economic security, to name a few.

Starting a Business Doesn’t Equal Success

An executive summary on the Status of Black Women in the United States by the Institute for Women’s Policy Research supports this by sharing that almost 25% of Black women live in poverty, compared with 10.8 percent of White women.

It’s easy to get excited about the rate at which Black women are starting new businesses. However, it doesn’t exactly equal success.

According to 2019 data from American Express, Black female entrepreneurs earn $24,000 on average, which pales compared to all-women businesses that earn $142,900 on average.

This is a significant discrepancy in earnings, and what’s worse is that Black women have to work so much harder to earn that $24k.

You can’t help but wonder what more they have to do to earn revenues that are in line with their non-Black counterparts.

Here are four ways that you can support Black womenpreneurs in your community.

Access to Funding – most small businesses invest at least 30k per year on their marketing and Black women typically have between 5-15k per year to put towards their business which does not help them compete in the marketplace at representative levels. Banks make it almost impossible to access capital to grow Black-owned, female-run businesses. The process to apply for grants adds to the mountain of work we already have to do to maintain a viable business.
Mentorship – education is key for anything that we do in business and so access to seasoned mentors in business, entrepreneurship, and marketing will be a major factor in helping us learn what we need to know about managing a successful business.
Sponsorship – this can be by way of making a financial investment in a Black, female-run business, but another form of sponsorship that would help would be by way of vouching for the services of a Black female business to those who may be seeking her services. An endorsement from the right people could go a long way for her business.
Community Support – It doesn’t hurt to have a strong and supportive community that will refer businesses and share testimonials, not only about the great work that you do but also about how great it is to work with you.

These are just a handful of ways in which anyone can support a Black female business, but I encourage you to consider some ways that are within your own strength and power and make a commitment to helping our Black entrepreneurial sisters succeed.

About the Author

Sandra Gabriel is a Branding & Public Relations professional who brings over 17 years of experience as the founder of Gabriel Press & Relationships (Gabriel PR), a boutique Branding & Communications agency.

She is also the Editor-in-Chief of FBI STYLE, an online lifestyle magazine for fashion, beauty, and travel enthusiasts.

Moving past the traditional notion of the PR professional and into the realm of branded lifestyle designer, Sandra is who you will find at the intersection of Public Relations, Communications and Branding.