Committed to Empowering Diverse and Black Women-Owned Businesses and Entrepreneurs

Committed to empowering diverse and Black women-owned businesses and entrepreneurs, Wells Fargo took center stage at the Woman Evolve Conference 2024 to highlight the importance of unlocking growth for small businesses and entrepreneurs.

Women are ready to learn, connect, and grow. It was a testament to Wells Fargo’s commitment to ensuring that diverse businesses have access to capital, financial education, mentorship, and community. 

The economic potential of women entrepreneurs is vast. The latest statistics show that women-owned businesses contribute significantly to the U.S. economy, generating $2.7 trillion in revenue and employing 12.2 million workers. 

As women-owned businesses continue to grow, it’s essential to recognize the progress made, particularly among Black women, during challenging times.

Helping Black Women Entrepreneurs Start and Expand a Business

A growing number of firms have opened their treasure chests to Black woman entrepreneurs. They, in turn, are often using the financing to help other Black women start or expand a business.

The median seed funding raised by a Black woman founder is $125,000, nowhere near the national median of $2.5 million in 2020, according to ProjectDiane. In the first half of 2021, Crunchbase data revealed that only 0.34% of capital went to businesses run by Black women.

The article for Black Enterprise Magazine goes on to say that more efforts are surfacing to provide funding to Black women, or people of color in general, such as the Goldman Sachs’ One Million Black Women initiative, Fortune reported. One firm that is seeing the capital flowing steadily is the Fearless Fund, which works to increase Black representation in venture capital and support women of color.

Black Women Business Owners Are at the Forefront of Innovation as Entrepreneurs

Meet the 10 finalists for the first New Voices + Target Accelerators Pitch Competition of 2021. 

Black women business owners are continuing to remain at the forefront of innovation as entrepreneurs and the New Voices team is joining forces with the Target Accelerators team yet again to give ten of these hard-working women the chance of a lifetime. 

Poised and prepared before a panel of business experts, the ladies shared their entrepreneurship journeys for a chance to win between $5,000 and $20,000 in funding for their businesses. 

Winners will also receive business coaching and mentoring from @newvoicesfamily to help them grow and scale their companies with purpose.

To learn more visit, here (note:  this was previously aired but you can get your free passes to check things out).