Six in 10 Black women view entrepreneurship as an important pathway to wealth creation and believe more can be done to advance entrepreneurship opportunities. By addressing the systemic barriers they face when building their businesses, entrepreneurship could become a viable pathway to help narrow the opportunity gap.
With 1,200 respondents, One Million Black Women National Survey: Empowering Entrepreneurs found that 64% of Black women are optimistic about their ability to grow their wealth throughout their lifetime, while 54% who do not currently own a business have considered starting their own business.
Most Black women surveyed shared that increased access to entrepreneurial resources and opportunities would be the tipping point for them to start a business.
“Black women are starting businesses faster than any other demographic in our country. But these job creators need the know-how and resources to grow and scale,” said Asahi Pompey, Global Head of Corporate Engagement at Goldman Sachs. “We also need policy solutions that will further invest in the economic power of Black women entrepreneurs.”
“Historically, entrepreneurship has proven to create pathways to economic prosperity for Black women,” added Alanna Nicholas, Founder of Capital Talent Development Group in Akron, Ohio. “Having the autonomy and capacity to create products and services, outside of working for fixed compensation, means the sky’s the limit for Black female entrepreneurs.”
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Source: Goldman Sachs