Black and Brown women are not just starting businesses at an impressive rate. They're transforming the landscape of entrepreneurship. Despite facing significant hurdles, their impact goes far beyond the bottom line. This Women’s History Month, we explore the economic and social power of Black and Brown women-owned businesses, highlighting their resilience, growth, and the positive ripple effect they create. We'll delve into the challenges they face, the crucial role they play in the economy, and how we can all support their continued success.

Black women are the fastest-growing group of entrepreneurs in the United States, showcasing a remarkable surge in business ownership despite facing significant barriers such as limited access to capital and networking opportunities.

Supporting Black and Brown women-owned businesses involves a multifaceted approach, combining financial assistance, mentorship, and broader community engagement. Here are ways to contribute effectively:

Financial Support and Resources:

  • In 2021, Bank of America pledged $1.25 billion to advance racial equality, aiding Black Girl Ventures (BGV) in hosting pitch competitions and developing platforms for virtual programming.

  • Grant Opportunities: Fearless Fund x Master Card, HerRise, and the DoorDash disaster relief fund offer specific grants for Black and Brown women entrepreneurs, promoting economic empowerment and sustainability.

Mentorship and Advocacy:

  • Mentorship: Guidance on exploring less competitive niches and navigating entrepreneurship complexities through various mentorship types.

  • Advocacy: Increase visibility by sharing social media posts, mentioning businesses in newsletters, and consistently advocating for Black and Brown women entrepreneurs throughout the year.

Community Engagement and Networking:

  • Platforms for Connection: Engage on social platforms, attend events, and join online forums to foster meaningful connections with Black entrepreneurs.

  • Directories and Tools: Utilize resources like Buy Black NB, WeBuyBlack, and EatOkra to discover and support Black-owned businesses in various industries.

By integrating these strategies, individuals and organizations can play a crucial role in supporting the growth and success of Black and Brown women-owned businesses, contributing to a more inclusive and equitable entrepreneurial ecosystem.

Read the full article about supporting Black and Brown women in business by Frantzces Lys at Black Girl Ventures.