Thursday, May 08, 2008

State of Business for Women of Color

Results of a multi-year study conducted by the Center for Women’s Business Research in partnership with Babson College exploring the impact of race and gender on the growth of businesses owned by women who are African-American, Asian, Latina and other ethnicities show that women of color are starting businesses at rates three to five times faster than all other businesses. However, once in business, their growth lags behind all other firms.
The research found that being a business owner who is a woman of color can evoke misperceptions about business capacity, result in lessened access to capital for business growth, create the challenge of balancing the expectations and demands of running a business and being part of a diverse culture, and increase the difficulty of attracting top talent. The research also pointed out that many women business owners of color have a double bottom line. They work to give back to their communities as well as for profits.
Read more here and at the blog of the Center for Women's Business Research during the 2008 National Symposium.

No comments: