Black women, who make up less than 10% of the American population, are redefining the national business scene. As per GoDaddy’s data, amidst the persisting COVID-19 pandemic, they’ve become the country’s fastest-growing entrepreneurs. They’re not just breaking down barriers in business but also fueling economic growth and job creation in the U.S.
From 2017 to 2020, there was nearly a 20% rise in Black women-owned businesses, exceeding the overall increase of female-led and Black-owned businesses. Black women entrepreneurs are making headway, not just in typical sectors like health and education, but in the tech industry as well. Their unyielding spirit continues to inspire the upcoming generation of Black women entrepreneurs.
More Black women are transitioning from corporate professionals to entrepreneurship, seeking more autonomy and flexibility in their careers. For example, Joy Ofodu moved from being an Instagram employee to becoming a content creator and voice actor. These transitions illustrate their wish to control their career paths and exhibit creativity, independence, and leadership.
Similarly, Brianna Doe, former marketing chief at a fintech startup, set up a marketing firm with Alexis Rivera Scott in October 2023. This establishment demonstrates their pooled vision of shaping the future of marketing without the typical corporate constraints.
Another trailblazer, Leslie Frelow, launched an online wine store and a subscription-based wine club in December 2020. Even in a dominantly male industry, she proved that Black women entrepreneurs could excel. Frelow provides unique curated experiences for members through her wine club and spreads her love for diverse wine varieties via her online store. Her relentless dedication is inspirational for aspiring entrepreneurs everywhere.
This growing trend among Black women entrepreneurs marks a shift in American entrepreneurship, indicating a more inclusive transformation in business ownership, celebrating diversity, and creating ample opportunities for all. As these entrepreneurs continue to shatter stereotypes, they’re paving the way for future generations and playing a crucial role in fostering economic growth and innovation.
