As LIGHT has always placed special emphasis on women and children, we would be remiss to acknowledge the woman's role in Black History. Women entrepreneurs have become an extraordinary part of businesses developed over the last 20 years. LIGHT has poured into birthing great leaders, many of which have become successful entrepreneurs. In the United States, an astounding 17% of Black women are in the process of starting or running new businesses. Yet despite this early lead, only 3% of Black women are running mature businesses.
The analysis of Harvard Business Review offers several possible reasons Black women entrepreneurs struggle to sustain their businesses. Most is attributed to lack of access to capital and key resources, not to mention combating racial and gender disparities. These barriers are enough reason to rally behind our fellow business leaders to encourage, support, promote and contribute financially to their efforts.
What can you do to support a black owned business that will foster hope and growth into the communities in which we live? Do it! And do it today!
Black women are positioned to play an increasingly visible and important role in the United States’ political and economic future, particularly with the election of the first Black woman vice president and the widespread call for change embodied in the Movement for Black Lives. Never before have we seen such potential for Black women to elevate their voice and their careers, and to achieve social and economic equality. One means for realizing this dream lies in the opportunities offered through entrepreneurship.
However, this dream will not be complete without targeted efforts that enable Black women entrepreneurs to grow and sustain their businesses. The future of our children, who will become the next generation of young business women and men depends on what we do today! Encouraging and supporting the dreams of our young leaders will bare great fruit in the years to come. Support LIGHT in fostering the hope our children need to become our community's and country's future leaders!