According to the 2018 State of Women Owned Businesses Report, commissioned by American Express, the number of women-owned businesses increased 31 times between 1972 and 2018, rising from 402,000 in 1972 to 12.3 million in 2018. Further, the report contends that from 2007 to 2018 the number of women-owned businesses surged 58% while all businesses increased on 12%; total employment by women-owned businesses rose 21% while for all businesses it declined 0.8%; and total revenue of all women-owned businesses jumped 46% while revenue for all businesses increased 36%.

Women of color owned businesses gained noted support in 2018 from Essence Ventures Chairman Rich Dennis who launched the $100 million New Voices fund for women of color entrepreneurs while venture capitalist Arlan Hamilton, founder of Backstage Capital, launched a $36 million fund for Black women founders.

Posted by:Editor

KOLUMN Magazine celebrates the lives of People of Color by giving our world texture.