7 Resources for Black Women Business Owners

Tools for black female entrepreneurs who are crushing it in honor of Women’s Small Business Month

women business owners
(Image: iStock.com/andresr)

Nearly 10 million women today are innovating—starting new businesses and creating jobs. These savvy entrepreneurs are impacting the economy and creating great social value, and 14% of such businesses are controlled by black women.

In the last several decades, African American women have made undeniable progress in starting and growing their own businesses. October is considered National Women’s Small Business Month, which is a time to honor women business owners in America.

State of Women Business Owners

 

According to this year’s American Express OPEN State of Women-Owned Businesses report, women are starting an average of 1,072 new businesses each day. Since the recession, the number of women-owned firms has grown at a rate five times the national average—up 45%, versus the 9% increase among all businesses.

For further proof of female-owned business growth, this past March, the U.S. Small Business Administration announced the federal government met its 22-year-old goal of awarding 5% of federal contracts to women-owned businesses for the first time in history. This landmark achievement is another sign that the success of female business owners isn’t slowing down any time soon.

To help sustain the momentum of African American, female-owned firms, here are seven resources to check out:

1. ACCION International


ACCION International
is a global, nonprofit micro-lender dedicated to creating economic opportunity by connecting people to the financial tools they need to improve their lives. The organization also provides management, research and development, and strategic leadership services.

2. ChallengeHER

A partnership between American Express OPEN, the SBA, and Women Impacting Public Policy, ChallengeHER is an event providing women business owners with the opportunity to make valuable connections with government agencies and experts, as well as to learn how to grow their businesses through federal contracting.

3. 50 Fastest Growing Women-Owned/Led Companies Guide to Growth

Recently published by the Women President’s Organization and American Express, 50 Fastest Growing Women-Owned/Led Companies Guide to Growth is a guidebook that offers tips and tricks from successful female business owners highlighting tried and true methods.

4. Miller Lite Tap the Future


Miller Lite Tap the Future
is a competition that offers up to $200,000 in grants to the winning team with the best business plan and strongest  pitch. Also, it provides access to business moguls and seminars throughout the six-month process.

5. Grow Her Business

The National Women’s Business Council recently launched a resource platform called Grow Her Business. It is an online searchable database of everything from accelerator programs and incubators to learning opportunities and mentors to federal grant applications.

6. Pipeline Angels


Pipeline Angels
trains women to become angel investors through education, mentoring, and practice. The network also allows women entrepreneurs across the nation to present at one of its Pitch Summits, for a chance to secure capital for their businesses.

7. Women’s Business Centers


Women’s Business Centers
represents a network of more than 100 educational centers designed to assist women in starting and growing small businesses. Through the management and technical assistance provided by the WBCs, entrepreneurs receive comprehensive training and counseling on a variety of topics.



4 Responses to 7 Resources for Black Women Business Owners

  1. Pingback: web: 7 Resources for Black Women Business Owners | nbx.press

  2. Marilyn armah says:

    would like to start my own business.small bed and breakfast..dont know where to begin..please send any information.thanks for your time

    • Hi Marilyn! I saw your comment and didn’t notice a response. Have you tried joining any Facebook groups for small biz owners? They can be a great source of info and a place where you can connect with other business owners (I host a private Facebook Group called The Entrepreneurs Lounge…come join us!) Also searchufor resources and advice on Pinterest can give you better result than google. Try searching for “bed and breakfast business ideas” Hope this helps!

  3. Pingback: Here Are 7 Good Resources For Black Women Entrepreneurs – Financial Juneteenth

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