Historically, Black females have earned less than men and white women with the same education and experience.
As the country continues to fight for equality in funding, the workplace, and in every aspect of life, many impressive Black women are creating a runway for generations to come and climbing even higher mountains.
Find out who some of these successful black women entrepreneurs are here.
JPMorgan Chase found that “[t]he number of businesses owned by Black women grew 50% from 2014 to 2019, representing the highest growth rate of any female demographic. Black females accounted for 42% of all women who opened a new business during that time and represented 36% of all Black employers.”
But what is seldom discussed about black women entrepreneurs: Why are they starting the businesses?
According to this article, black women are leaving workplaces in record numbers due to racism, sexism, and an inability to bridge pay disparities between white men and white women.
As the article states at the end: "Our workplaces need seismic shifts in policy, structures and society – shifts that specifically see and center Black women. Companies should not assume what Black women need; they should engage with us to co-create self-determinate solutions. In other words, ask Black women what we need, and be prepared to offer it."
The grand-prize winner received $100,000 in funding for her business, while the runner-up received $50,000 in funding for her business.
Read a little about both winners and their brands here.
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