Black women are the fastest-growing group of entrepreneurs

"Black women-owned employer businesses grew by 13% and their revenue was up almost 6%. Black women-owned businesses without employees grew by 13% and revenue surged by 8%. By comparison, female-owned businesses grew at a rate of 4.4% during the same period of time."

"Black women earn just 70% as much as white men (white women earn 83%). Similarly, per McKinsey's 2025 Women in the Workplace report, Black women receive fewer promotions than men. For every 100 men promoted to a manager role, 93 women are promoted, but Black women see the lowest number of promotions. Only 60 Black women are promoted for every 100 men."

"You don't see that same loss with Black men, you don't see that same loss with other groups of women. It was a sharp and unique decline in employment for Black women."

Black women experienced significant employment challenges in 2025, with unemployment rising from 5.4% to 7.3% and over 300,000 leaving the workforce or being laid off within three months. Federal job cuts disproportionately affected them. However, Black women-owned businesses grew 13% between 2024 and 2025, with revenue increasing nearly 6%, outpacing overall female-owned business growth of 4.4%. This entrepreneurial surge reflects limited corporate opportunities, as Black women earn only 70% of white men's wages and receive the lowest promotion rates among women, with only 60 promoted per 100 men compared to 82 Asian and Latina women. Declining DEI efforts since 2024 have intensified workplace barriers.

Read at Fast Company