Key reasons why it is so important to support Black female entrepreneurs
Posted on 29 November 2016
Over the past 18 or so years, Black women have become the fastest-growing group of entrepreneurs in the U.S. They own 1.5 million businesses between them, up 322% since 1997. This growth is astounding and a great step in the right direction for black female entrepreneurs, and in order to continue this trajectory of growth and increase these numbers, they need our support. Here is a list of reasons to support Black female entrepreneurs and why it is so important:
- By supporting Black female entrepreneurs we aid in increasing the circulation of Black dollars in Black communities. By increasing the circulation of these dollars, we can create jobs, build up communities and provide economic prosperity in our area. This in turn, by infusing money into our communities, can then support Afrocentric schools, libraries, Afrocentric community/civic centres, and black churches to name a few. One writer said, “by spending and sending Black dollars out of the community, it is like building a house on sinking sand”; our black communities need a strong and solid foundation in order to grow; thus, we need to keep the majority of Black dollars in our communities.
- Supporting Black female entrepreneurs creates opportunities for mentorship both to provide it and to receive it. It creates an opportunity for them to give back to our community to share with others strategies and tools for their success, through mentorship they are able to spread a wealth of knowledge that can ignite fires within our brothers and sisters to be bold, to dream, to believe in themselves and their ideas and be the change we want to see in our communities. Additionally, it allows them the opportunity to receive mentorship and advice from community leaders who have experience and “know how” of the needs of the community, as well, to receive advice from other Black business owners within the community.
- Because representation matters! When Black women are in positions of leadership and power, it increases the chances for more Black women to access similar positions. It also increases the chances of young Black girls aspiring to access those positions in the future, because they are able to see themselves represented in these areas when they are so used to seeing non-Black females in these types of roles.
- By supporting Black women as a whole, we support Black women’s resilience! Black women are historically and systemically harmed by interconnected oppression such as racism, sexism, classism and ableism. When you support their work and entrepreneurship we are contributing to reducing the negative impact of systemic violence against women. Additionally, the elimination of barriers against women that make it more challenging to pursue entrepreneurship or business ownership can increase output by raising their participation and labor productivity. It is because of systemic barriers and oppression, Black women are often unable to pursue entrepreneurship because of a lack of support, lack of access to resources, lack of stability; so by supporting you contribute to this dream becoming a reality!
And finally, because feminism! – We can build our own reality!