Black Women are the Fastest Growing Group of Entrepreneurs, But There's a Catch

By Sughnen Yongo-Okochi

their businesses, suggesting that they have other jobs or responsibilities that demand their time and attention.”

Hurdles

According to a report by JP Morgan, about 61% of Black women self-fund their startup capital, because of a lack of access to capital. According to the report, Black women find it difficult to get funding, with a rejection rate that is three times higher than that of white business owners. The disproportionate access to capital has resulted in many Black women having to pay for many of their business costs out of pocket.

According to Ernest, investing in Black women requires the right resources that will grow their brand.

“Black women are positioned to play an increasingly visible and important role in the United States’ future like never before,” said Ernest. “To elevate their voice and their careers, and to achieve the American Dream of social and economic equality, we believe that entrepreneurship is key and that we must play our part in targeted efforts that enable Black women entrepreneurs to grow and sustain their businesses.” https://www.msn.com/en-us/lifestyle/career/ black-women-are-the-fastest-growing-group-ofentrepreneurs-but-there-s-a-catch/ar-AA15GHc8

Source: https://21ninety.com/category/ work,money

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