Understanding the experience of Black female entrepreneurs
Special to The Dallas Examiner | 3/7/2016, 8:34 a.m.
Special to The Dallas Examiner
Washington, DC – Walker’s Legacy, a national women-of-color in business collective named in honor of Madam C. J. Walker – the first self-made female millionaire in U.S. history – has been contracted by the National Women’s Business Council and the Office of Advocacy of the U.S. Small Business Administration to conduct research that aims to identify the unique opportunities of black women business owners and entrepreneurs, and assess the unique challenges and barriers they face.
The NWBC is a nonpartisan federal advisory council created to serve as an independent source of advice and counsel to the president, congress and the SBA on economic issues of importance to women business owners.
The SBA Office of Advocacy examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress and the president.
Expert panel and research will be conducted in Washington, D.C. and New York, New York. These two cities were selected for high rates of Black female entrepreneurship. There are 1,521,494 Black women-owned firms in the U.S., employing 316,977 workers and generating over $42 billion in revenues. Women own fully 58.9 percent of all African American-owned firms, employ 32.5 percent of the workers employed in African American-owned firms, and generate 28.1 percent of the revenues of these firms.
Leveraging academic research with experienced entrepreneurs, the goal of this project is to gather more qualitative research on this niche community of entrepreneurs, one of the fastest growing business segments in the nation. The panel discussions will center on the role of Black women entrepreneurs and include data and information regarding this community. Roundtable discussions will include a curated list of questions on topics as they relate to the unique challenges, needs, and successes of Black women entrepreneurs.
“One of the most remarkable entrepreneurial trends in recent years is the phenomenal growth among black women. The number of firms skyrocketed by 178 percent from 2002 to 2012. And employment and receipts are increasing too, but not nearly at the same rate. There’s a lot more to this story, and we’re excited to explore these important questions,” stated Amanda Brown, executive director of the National Women’s Business Council.
Programming will commence this month in Washington, D.C., followed by New York City at a later date to be disclosed.