The State of Black Business 2022
Black-owned businesses are thriving, driven by the resilience and innovation of a dynamic community. This report explores the challenges and triumphs of the Black business landscape in 2022.
Women Mean Business: Small Biz Stats
The Rise of Black Women Entrepreneurs
Black women are the fastest growing group of entrepreneurs in the US, starting businesses at a rate 6 times the national average.
Small Biz Strength
Small businesses owned by women of color generate over $400 billion in revenue annually, showcasing their significant economic impact.
Resilience and Determination
Despite facing systemic barriers, Black women entrepreneurs persist in building successful ventures that inspire and empower their communities.
The Challenges Ahead
Access to Capital
Black-owned businesses often struggle to secure funding, limiting their growth potential. Increased access to capital is crucial for their long-term success.
Navigating Bureaucracy
The complexities of regulations, licenses, and paperwork can be daunting for small business owners, requiring dedicated time and resources.
Building Networks
Establishing valuable professional connections and finding mentors can be challenging, but vital for Black entrepreneurs to thrive.
