Black Women in Business
Black women are the fastest-growing group of entrepreneurs in the U.S.—meet 3 who grew their side hustles into successful businesses
Black women make up less than 10% of the U.S. population, but they’ve emerged as the fastest-growing group of entrepreneurs, new research from GoDaddy has found.
The number of Black women-owned businesses in the U.S. was trending upward even before the Covid-19 pandemic, which accelerated entrepreneurship overall.
Between 2017 and 2020, the number of Black women-owned businesses increased by nearly 20%, far exceeding the growth of women-owned businesses and Black-owned businesses overall, the Brookings Institution reports.
“To me, the rise of Black women entrepreneurs means we’re starting to believe in ourselves more, that we’re finally recognizing how limitless we are,” says Joy Ofodu, who quit her job at Instagram to become a full-time content creator and voice actor in 2022.
Ofodu’s decision to leave Instagram reflects a larger trend of Black…
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