Women of Color are the Most Founded Demographic But the Least Funded (Interview)

Arian Simone built the "Fearless Fund," a venture capital fund intended to support women of color. Simone details her legal battle to keep the fund alive and shares more about her book "Fearless Freedom: A Manifesto for Unlocking Wealth and Equality for All."

Simone says, "Women of color are the most founded demographic but the least funded."

Listen to the interview. 

Faith-Filled Women Business Owners

According to the Minority Christian Women Entrepreneurs Network (MCWEN), women of color account for 47 percent of all women-owned businesses — around 5.8 million in total — employing over 2.2 million people and generating $386.6 billion in revenue.

More and more, entrepreneurs are stepping into the business world, driven not just by a passion for their products and services but also by a deep sense of faith. These “faith-filled” business owners see their work as a means to serve their communities, live out their beliefs and build a legacy for their families.

Learn about a few here.

The Fearless Fund for Black Women Entrepreneurs

A $5 million venture capital fund to support startups created by women of color has been launched by Actress Keshia Knight Pulliam.  She has teamed with entrepreneur Arian Simone to make this happen.

“The Fearless fund is designed to change the narrative as it relates to funding allocated to women of color,” says Simone.

Read more about the venture capital fund for black women entrepreneurs.

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.