Despite the struggles experienced by black women who are aspiring and established business owners, the fight must go on to keep them engaged in the overall entrepreneurial spirit.
Black Enterprise Magazine recently published a necessary editorial online, which was written by author Carolyn M. Brown. In her in-depth financial news article, Brown elaborately pointed out the vitality of black businesswomen and why the survival of their visions as entrepreneurs is so crucial.
However, Brown’s revelations about a recent report from the National Women’s Business Council (NWBC) also created a rallying cry for concern. The NWBC report was based on an intensive study, which analyzed both the national progress and the underscored plight of black female entrepreneurs in America.
“The [NWBC] report is one of a series of planned NWBC studies into subpopulations of female business owners, which will be released over the coming year. It sheds light on current barriers black women face when starting and maintaining a business, and it identifies components needed to help them continue to build and grow successful business ventures,” Brown wrote in her article for Black Enterprise.
Black women becoming successful entrepreneurs is absolutely essential to the overall mission of black financial independence. When the wealth gap between black businessmen and black businesswomen is high, it completely defeats the purpose of establishing and maintaining collective economic power for the black race as a whole.
In closing, Brown pointed out the alternatives black female entrepreneurs can utilize to overcome the barriers to establishing solid business ownership.
“Black women entrepreneurs should consider seeking non-traditional funding sources, such as crowdfunding. This will allow them to overcome the intimidating, daunting process of pursuing more traditional funding methods,” Brown also wrote. Further explanations of non-traditional funding methods are also covered in the NWBC report.
To read the full NWBC report on black women and their role in business ownership, please click here.