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African-American women are the fastest growing group of entrepreneurs in America, a new study reveals.
BY Lilly Workneh | PUBLICATION Huffington Post
The 2015 State of Women-Owned Businesses Report released this week found that the number of women-owned businesses grew by 74 percent between 1997 and 2015. That’s 1.5 times the national average of business growth to be exact.
AMERICAN EXPRESS OPEN – A Summary of Important Trends, 1997-2015
This publication marks our fifth annual investigation into the state of women-owned businesses in the United States. It provides stakeholders in the women’s enterprise development community – policy makers, entrepreneurial support organizations, suppliers and customers, and women business owners themselves – with information and intelligence that can inform their efforts. American Express OPEN is proud to build upon the growing interest and commentary generated by our previous reports.
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Meanwhile, the growth in the number of businesses specifically owned by black women is outpacing that of all women-owned firms, the report says. The number of black women-owned businesses has grown by a whopping 322 percent since 1997. Today, black women own roughly 14 percent of all businesses in the country owned by women, which tallies to around 1.3 million businesses, according to the report.
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