For those outside the loop, Black women are the fastest growing group of business owners despite rampant sexism, racism, elitism, and an egregious lack of available resources in the problematic space.
According to the Harvard Business Review, 17% of Black women are in the process of starting or running new businesses compared to only 10% of white women and 15% of white men.
In 2019, 35% of all Black-owned businesses were owned by women, according to a Wells Fargo report.
At this rate, Black women are starting (and self-funding) businesses faster than anyone else while receiving less than 1% of venture capital funding and being largely ignored by the government’s sketchy Paycheck Protection Program that helped an embarrassing 29% of Black business owners stay afloat compared to 60% of white applicants.
“At a time when folks are rethinking their lives and choices, it is not surprising that more Black women are electing to become CEOs of their own companies rather than waiting for their intelligence and skills to be recognized at their current firms,” said Melissa Bradley, Founder of 1863 Ventures–an agency for Black and brown entrepreneurs–in an interview with (Business) Insider.
With Black women at the forefront of yet another movement, it’s no surprise that they showed up and showed out at Invest Fest where Angela Yee, Milano Di Rouge founder Milan Harris, and Slutty Vegan founder/CEO Pinky Cole shared invaluable insight into becoming a successful entrepreneur during their buzzy “Women In Business” panel.
According to successful real estate maven Quiana Watson who moderated the panel, only 4.2% of women-owned businesses are making over a million dollars while generating a stunning $1.9 trillion in revenue.
Angela Yee had similar sentiments while at Invest Fest.
“Sometimes, as women, it’s hard for us to really talk about our accomplishments because we think it’s not a big deal or we downplay it,” said Yee in an interview with BET.com. “I love being in a space where we can celebrate the accomplishments and talk about how we got there.”
And with that said, enjoy another impressive collection of business baddies to follow, support, and celebrate on the flip.
CEO of Watson Realty Co–a full-service real estate brokerage firm with top-of-the-line marketing and expert client representation.
Owner of popular online fashion boutique Elevyn Thirty specializing in trendy ‘soft life’ fashion.
Owner of Sydney Aniyah Boutique–an upscale brand for women championing chic fashion and embodying it as a lifestyle.
Founder of Trove Branding–a digital marketing agency with the mission to bridge the gap between brands and their audiences.
CEO of Cocobeautyllc which specializes in vegan skincare products and accessories for all skin types.
Kendra “Lady K” Sanders
Multi-million dollar top producing agent at New Era Realty Group.
Owner of Shadae Renee Beauty that specializes in healthy, versatile, and natural units and extensions.
CEO of Exalt MGMT talent agency that elevates the minds and brands of purpose-driven artists, athletes, and thought leaders.
Shaquanna “Ms. Business” Brooks
Tax expert, financial consultant, and CPA.
CEO of Women of Lyn–a women’s empowerment organization dedicated to uplifting and empowering all women to be ‘bosses’ through support and networking.
Founder of My Fab Finance–a leading financial education and lifestyle blog for millennials who want to become financially free and do more of what they love.
CEO of Black Love Inc. and co-creator/director of hit OWN series ‘Black Love’