When Black women are still making 63 cents for every dollar a white man makes, it’s imperative that we support each other – whether that’s through a purchase, a referral, an Instagram follow, or a retweet. When one of us comes up, we all come up!
Here, five entrepreneurs are asked about their mission, and what it means to them to be a Black woman entrepreneur. They also share advice for the next class of melanated moguls.
According to Crain's Chicago Business, the share of women who work for themselves has been trending upwards for the last decade, and experts say the pandemic accelerated the shift for working parents who were disproportionately shouldering child care and home responsibilities. The percentage of women who reported being self-employed rose faster during the pandemic than the rate for men.
“In the absence of a really supportive private sector for work-family balance, I think women are finally realizing that self-employment is that alternative,” says Milli, who founded Research 2 Impact, a consulting firm specializing in economic and social policy issues disproportionately impacting women and people of color.
Read on to learn how more working moms, to find balance amid a pandemic, are pushing to work for themselves. It's an escape from the regular 9-5 job and allowing women to control their destiny.
To better understand those obstacles, a research project was launched by Babson’s Center for Women’s Entrepreneurial Leadership (CWEL) and Bank of America Private Bank. Ultimately, findings revealed that women who have built successful companies had to navigate significant gender-based obstacles. In doing so, these women created alternate paths to success for themselves, and for other determined female entrepreneurs.
Read on to discover the three key themes that emerge relating to the challenges women entrepreneurs faced when growing their businesses. Be sure to review the Executive Summary.
The grand-prize winner received $100,000 in funding for her business, while the runner-up received $50,000 in funding for her business.
Read a little about both winners and their brands here.
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