Women’s History Month 2025 – Black Women Entrepreneurs: Leading the Way with $60 Billion in Annual Revenue

23 January 2025
Admin - Pittsburgh Yards

March 2025 – Women’s History Month

How Black Women Entrepreneurs Are Changing the U.S. Economic Landscape

Black Women Entrepreneurs’ Economic Impact:
Black women entrepreneurs are a rapidly growing force in the US economy. According to recent data, Black women own 3.5 million businesses in the US, with more than $60 billion in annual revenue. Their companies significantly contribute to job creation, innovation, and local economies across the country.
Black women are starting businesses faster than any other group of women or men, with an average of $24,000 in revenue per year for the typical Black woman-owned business, compared to $54,000 for white women-owned businesses.
However, despite their entrepreneurial success, Black women entrepreneurs still face barriers, including a lack of access to funding, lower loan approval rates, and smaller startup capital than their counterparts.

The Gender Pay Gap:
The gender pay gap between men and women working full-time has widened for the first time in 20 years. In 2023, women earned 83 cents for every dollar earned by men, down from 84 cents in 2022. This statistic highlights that, despite progress, women continue to face significant wage disparities in comparison to their male counterparts.
Black women specifically face a more pronounced pay gap, earning 63 cents for every dollar earned by white men, which reflects the intersectional nature of race and gender in the workplace.

Educational Advancements:
More women than men hold college degrees. Today, 47% of US women ages 25 to 34 have a bachelor’s degree, compared to 37% of men. This trend is consistent across racial and ethnic groups, showing that women, particularly the younger generation, are making significant strides in higher education.
This educational achievement positions women as more qualified, but despite their higher educational attainment, they still face wage disparities.

Women in the Workforce:
Women make up 53.7% of the labor force in the US, with a 57.3% labor force participation rate among women of color. Despite their more significant presence in the workforce, women, particularly Black women, are still often underrepresented in leadership roles and industries that drive economic growth.

Fortune 500 Representation:
Women hold 10.4% of the CEO positions in Fortune 500 companies. This statistic highlights a slight but essential increase as the representation of women in leadership positions continues to grow, albeit slowly. This disparity highlights the systemic barriers women face in reaching top leadership roles, especially for Black women and other women of color.

Sources – Fair 360

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