With the recent rise of empowerment among Black People and more ethic groups, many are witnessing world change when it comes to the business landscape. Usually, white males are most likely to create new businesses.
Up until recently, Black women have astounded analysts with 17% of Black women being in the process of starting or running a new business. This compares to 15% of white men, and 10% of white women.
One can assume that the number of population can have an effect in this statistic but it is undouble an increase in economic participation among minority groups such as Black and Latino. The data used for this study contained interviews with more than 12,000 people.
61% of Black Women Owned Buisnesses Are Self Funded
It this recent Harvard study, 61% of black owned businesses are self funded, while their male counterparts are more likely to be funded elsewhere. This information should be used to encourage minority groups like Black, Latino, Asian, Indian and more to start their own businesses and contribute to the economy by making jobs.
It is a beautiful thing to see the revolution like involvement into USA business like Black women. Here at LedByWoman, we encourage all women from all races to continue to pursue your goals and ideas. Self funding will only allow you to have full control over your product or service so hold on tight and lead the way!