Black Female Entrepreneurs Are On The Rise

News & Views | Gerren Keith Gaynor | 12/19/2013 | 11:00 AM EST

New study finds that Black women are the fastest growing segment of women-owned businesses

Black women are on the rise in the entrepreneurial world. A new study from the Center for American Progress reveals there are significant gains made by African-American women in business ownership.

Black-owned businesses make up the fastest-growing segment of women-owned businesses in America. In addition, Black women are starting businesses six-times the rate of the general population. Of the number of African-American owned businesses, women of color make up 42 percent.

The rise in business ownership among women of color points to the crucialness of developing economic opportunities for African-American women, who remain either the head of household or the primary breadwinners in the home. According to reports, 53.3 percent of wives in Black households are bringing in more income, suggesting that the growth in Black women-owned businesses may be paramount for the fiscal well-being of the Black community overall.

What do you think of the news that Black female entrepreneurs are on the rise? Will it encourage you to support more Black-owned businesses? Sound off.

(Photo: Tom Merton/Getty Images)

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