Can both recent reports on the economic muscle of Black women in the United States be correct?
On the one hand, businesses owned by women of color—42 percent of them African-American—have skyrocketed since 1997, far surpassing even the impressive growth rate of businesses owned by all women. And they’ve grown far faster in terms of revenues and employees than the average for all women.
On the other hand, compared to other U.S. women, Black women are less likely to be employed or insured, to hold college degrees or be represented in elected office—all indicators of prosperity.
“It appears to be a paradox, unless you understand Black women,” says Dr. Venus Opal Reese, CEO of Defy Impossible, Inc. (www.DefyImpossible.com), a coaching business that helps Black women—and men and women of all ethnicities—break the seven-figure ceiling.
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