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Friday, September 01, 2006

African-American women step up in business world

Interesting article in USA Today [here are the highlights] ...

As women take entrepreneurship's lead, marketers from banks to tech companies are tapping black women as a new source of revenue. "It's a huge opportunity," says Angela Burt-Murray, editor in chief of Essence, a leading lifestyle magazine for black women.

Black women are launching companies for many of the same reasons spurring other women. They've gained corporate experience, but a glass ceiling keeps them from rising to the CEO's office. They're better educated. Self-employment offers more flexibility to care for children and aging parents.

...

Black women owned 547,341 companies in 2002, up 75% from five years before, when the Census Bureau last counted. The number owned by men rose a smaller 29%, to 571,670, says the study by economist Ying Lowrey in the SBA's Office of Economic Research.

...

Black women, like all female owners, still lag behind men by some key measures. The majority of their companies are part-time ventures, often run from home at night or on weekends to supplement daytime pay. Just 5% had employees, vs. 10% for black men. Annual revenue averaged about $39,000, vs. $114,000 for black men, Lowrey's research shows.

... Read the entire article

1 comments:

Susan Valeri & Carolyn Parks, MBA said...

Thank you for your site and putting up this great information. I looked for hours to find a business site like this to put in our Hot Blogs section.

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