Friday, June 13, 2014

Women of Color Driving Entrepreneurship.

How Women of Color Are Driving Entrepreneurship

By Farah Ahmad

Women of color are a principal force behind one of the most important components of America’s current marketplace and our nation’s future economy: entrepreneurship. Today, women of color are the majority owners of close to one-third of all women-owned firms in the nation. As our nation grows increasingly diverse, the contributions of women of color in the economy also stand to grow. A 2009 Center for Women’s Business Research study found that the 8 million U.S. businesses that are majority owned by women had an economic impact of $3 trillion annually that translated into the creation and/or maintenance of more than 23 million jobs, a total that made up 16 percent of all U.S. jobs. Given the rates of growth among women of color businesses, these positive impacts to the nation’s economy stand to grow even further.

Many women of color who become entrepreneurs do so in order to pursue their innovative desires. But too often, structural obstacles in the traditional workforce limit women and push them to find alternatives such as entrepreneurship. Understanding women’s roles and challenges in entrepreneurship—as well as the traditional workplace—is essential to ensure that women can succeed regardless of which career path they choose.

Read more and download the full issue brief here.

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