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

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 they still face wage disparities despite their higher educational attainment.

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.

At Pittsburgh Yards, we are proud to be a Place of Purpose, where we create spaces for Black women entrepreneurs to thrive. As we reflect on the incredible economic impact that Black women are making across the U.S.—owning 3.5 million businesses and generating over $60 billion in annual revenue—we are reminded that the path to success is still filled with challenges.
Despite starting businesses at an impressive rate and driving job creation and innovation, Black women entrepreneurs continue to face barriers such as limited access to funding, lower loan approval rates, and smaller startup capital than their peers. These challenges are further compounded by the ongoing gender pay gap, where women earn less than men for the same work, and Black women face a much more significant gap.
But these women are changing the game. Their educational achievements, industry leadership, and resilience in the face of adversity are powerful forces for change. At Pittsburgh Yards, we are committed to supporting these trailblazing entrepreneurs—not just in 2025 but beyond.
We believe in their power to transform economies, build stronger communities, and create opportunities for future generations. We are here to connect people, create opportunities, and foster an environment where women entrepreneurs, especially Black women, are supported, empowered, and celebrated. Together, we rise.

Sources – Fair 360