As a Black female founder — the fastest-growing group of entrepreneurs today — I recognize my station in this realm to be a unique one.
Since 2007, the number of businesses owned by African-American women has grown by 164%. Out of all women-owned businesses in the United States, nearly half, or 44%, are controlled by minority women. That figure is up from 20% in 1997.
Now while the progress of Black entrepreneurs is palpable, the oppression still faced on the pathway to, and within self-employment itself, is just as potent.
In the U.S. alone, Black entrepreneurs receive just 1% of all venture capital (VC) funding from the over 1,000 VC firms that exist today. Black entrepreneurs are also twice as likely to be rejected for a bank loan than their White counterparts. And in Corporate America, BIPOC are routinely on the receiving end of implicitly bias behavior, like fewer interview callbacks, fewer promotions, and other discriminatory practices.
The truth is, these realities are a stark reminder of the systemic racism BIPOC must often contend with on the path to career-building. And for Black entrepreneurs, these injustices only compound the challenges that confront business owners — BIPOC or otherwise — face on a regular basis.
So how can we work to change the narrative? Let us, as individuals and communities, show up for Black-owned businesses in our purchasing decisions. Let us show up for Black-owned businesses in our advocacy efforts. Let us show up for Black-owned businesses as we listen, learn, and advance their talents (and their work). Ahead, 10 Black-owned brands to consider as we champion the Black community, now and always.
Ogo New York
Shop Now at Ogo New York
Shop Now at BYCHARI
Madame de la Maison
Shop Now at Madame de la Maison
Shop Now at Riot Swim
Harlem Candle Co.
Shop Now at Harlem Candle Co.
Shop Now at McMullen
Bolé Road Textiles
Shop Now at Bolé Road Textiles
Shop Now at Laurus
Shop Now at White Space Jewelry
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