Bringing the Gifts, Their Ancestors Gave, These Black Women Entrepreneurs Rise

Every founder has unique journeys and hurdles to jump through for business success. However, for some entrepreneurs, the cards may already be stacked against them based on race and gender. 

This is especially true for Black women business owners. According to a study from JPMorgan Chase, Black women are the fastest-growing demographic of entrepreneurs in the U.S., with nearly 2.7 million businesses nationwide. However, this group receives significantly less funding than those identifying as white.

According to a CNBC article, "while overall VC funding dropped by 36% in 2022 as inflation and interest rates surged, financing for Black businesses saw a steeper drop of 45%, according to the Crunchbase data. That drop is the largest year-over-year decrease Black entrepreneurs have seen over the past decade." 

Some of these unique challenges were highlighted in our blog post "Ways to Turn Challenge into Opportunity for Black Women Entrepreneurs." 

It's one thing to read about trends. However, we took it further and asked some of our Black founders about their journey and the best way to support them. Here are some of their responses. 

Talia R. Boone, Postal Petals

"Being an entrepreneur is an uphill climb. Being a Black entrepreneur is an uphill climb with no shoes and little water to hydrate. The path is littered with exhaustion and rejection, but the more you climb and begin to see the peak, the more you can appreciate how far you've come. People can support our businesses through our DIY blooms boxes or workshops." 

Sheylon Haywood, Drink Ginsation 

"Life as a Black entrepreneur is a journey. We have come very far but still, have a ways to go. As first-generation entrepreneurs, navigating different platforms and opportunities for fundraising, visibility, and access to retailers can be challenging. Black businesses are competing with larger businesses that have been around for years. No one gives you special deals and pricing because you're new. People can also know that they can support black businesses at full price, not only when there is a sale offer."  

Sandy Bastien, Babalid 

"As a Black entrepreneur, the world expects us to have problems and challenges, but they don't expect us to take our problems and challenges and create something with them. Our history in this country is oppression and sadness, so when we create something, people are surprised because it is not expected. So, when you see a Black entrepreneur, what they've built is usually using their own sweat, blood, and tears."   

Kim Roxie, LAMIK Beauty

"I want people to know they can help lower the difficulty for Black women to succeed. I want people to see that they can make a difference and be part of the solution. So open the space for Black women to be themselves around you, invite Black women into your life, and become friends with us. Don't live a segregated lifestyle." 

Alexandra Baker, In the Kitchen with Alexandra 

"For the record, I feel that being a Black entrepreneur today means opportunity. My father would say, 'being Black is an opportunity to stand out amongst the rest and to view my race as an advantage.' Being Black, now more than ever, in the land of opportunity is opportunity. The problem today is, without question, ACCESS TO CAPITAL. Why is it still tough for Black women to access capital to grow proven businesses ready to scale? Having access to capital would positively change, for the better, the business ecosystem for all." 

February is Black History Month, but it is crucial to support Black-owned businesses year-round. As highlighted in "Free to Empower All Women Entrepreneurs," women of all backgrounds can empower each other and lift everyone in many ways. Although, as women founders, we know the challenges firsthand in starting a business, it is an incredible gift if you can make that journey easier for someone else.