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According to The 2018 State of Women-Owned Business Report commissioned by American Express, while the number of women-owned businesses grew an impressive 58% from 2007 to 2018. The number of firms owned by black women grew by a stunning 164%, nearly three times that rate. There are 2.4 million African American women-owned businesses in 2018, most owned by women 35 to 54. Black women are the only racial or ethnic group with more business ownership than their male peers, according to the Federal Reserve. Read more on this story here.