Across the nation, black women are launching businesses faster than any other racial group, according to CNBC. Over the last dozen years, the number of companies owned by African-American women has increased 164 percent, with many of these representing startup businesses. Since time began, strong women have shaped history, and black women in America are no exception. From the earliest freedom riders to current political and community leaders, black women are breaking glass ceilings in every industry. Today’s young black girls can find leadership inspiration all around them, from media mogul Oprah Winfrey, North America’s first black multi-billionaire, to Jo Ann Jenkins, CEO of AARP, which has more than 38 million members. It’s no secret African-American women are changing the face of business with bold moves and smart strategies when it comes to launching companies that meet modern challenges.
The Wisdom Of Female Entrepreneurs
Virgin Mobile estimates that by 2022, 1 billion women will enter our economy as employers, producers and entrepreneurs. The time to support female-led businesses is now, especially minorities who are making waves in the startup world. Women are working smarter than ever before, managing large budgets and swaths of employees with record performance. Many female leaders are used to multi-tasking, juggling home and professional lives like pros. They understand the need for daily efficiencies and time management tools. According to Journyx, employers and managers that utilize time tracking software significantly increase their productivity. Black women business owners are no exception. They understand that to work their way to the top, they must set themselves apart using the best tools of the management trade to make their work count for more.
Leadership Diversity Matters
Investing in diverse leadership has proven to strengthen businesses and move industries forward. Forbes reports significantly lower turnover rates — up to 22 percent — for more diverse companies. When a business makes space for black women in its board rooms, it improves the quality of conversation happening at the highest levels and ensures its mission honors the perspectives of our diverse population. The effects of this are felt all the way down the chain of command, and inclusion means reach and growth. When consumers see themselves in a new business, they can’t help but want to get involved, and when employees hear their voice represented, it makes for a stronger working environment.
Black women are no doubt leading the way in today’s small and big business startups. When companies commit to supporting these leaders financially, it’s a win for men and women of all backgrounds.