Tory Burch Says Women Are the Answer – And They're The Best Investment Possible

Fellows of the Tory Burch Foundation exceed $1 million in annual revenue at 10 times the national average for women-owned businesses – and together, they’ve added $470 million to the economy. 

“One of our goals is impact and scale,” Tory Burch tells Oprah Daily. “How do we reach as many women entrepreneurs as we possibly can? Because the work we’re doing is now proven.”

Women are launching businesses at record rates, yet funding remains scarce. Tory Burch says removing barriers could unlock billions in economic growth.

Founder startups founded or cofounded by women generate 78 cents in revenue for every dollar invested, compared with 31 cents for those started by men.

“If we can be advocates for women in business to show what an incredible investment they are, we would be doing a great job,” she [Burch] says. “Women are the answer – and they’re the best investment possible.”

Fasting Growing Group of Entrepreneurs: Black Woman-Owned Businesses

Although Black women make up less than 10% of the U.S. population, they’ve emerged as the fastest-growing group of entrepreneurs in the country. 

According to the Brookings Institution, between 2017 and 2020, the number of Black women-owned small businesses increased by nearly 20%, far exceeding the growth of women-owned businesses and Black-owned businesses overall. 

In this interview, Jean Chatzky is joined by Tiffany Dufu, President of the Tory Burch Foundation and author of Drop the Ball: Achieving More By Doing Less. Tiffany shares the best ways to support Black women-owned businesses right now.

Ms. Burch Supports Women Entrepreneurs

We wrote about Tory Burch September 28, 2009 and her great sense of entrepreneurial style here.  Now she's launched the Tory Burch Foundation with the goal of economically empowering women.

With Accion USA, our microlending partner, we provide women with the financial support they need to start and grow businesses through microfinance. The average loan is $8,000 and creates or saves 2.4 jobs.

Read all about it here.

Illustration credit here.