Entrepreneurship

According to a report released by Transparent Collective, on average, people of color (POC) in a survey raised 48% less money than white male founders. With larger series A rounds in white male hands, it is understandable that there are some outliers with higher revenues on average, the report said.

There’s no denying the realities of starting a business are nothing short of challenging. You’ve got rapidly evolving tech to keep up with, increasing competition, higher operating costs, and not to mention, the overall uncertainty that always comes with founding a new business — “Will my idea even succeed?”

Despite headlines proclaiming growth and progress, the funding gap for female and BIPOC-founded startups remains significant. Halfway through 2021, the funding for U.S. startups led by Black women had already outpaced the total from 2018 (the previous five-year high), but the $494 million raised at that stage still represented just 0.34 percent of total venture capital spent.

Chicago nearly tripled its investment in Black and Latino startup founders since 2019, according to a report, as efforts to diversify the city’s startup scene show early results.

The Hispanic small business sector is growing, and Millennials are fueling that boom. Learn more about the reasons why.

The pandemic crisis has seen a boom in Black women – ‘so often entrepreneurs of necessity’ – setting up on their own

Initially the coronavirus pandemic hit small businesses across the country hard, forcing many to limit hours, shorten services and, for some, shutter their doors permanently. Despite the serious setbacks, Black small business owners prevailed and are on track to continue to grow.

The pandemic has fueled the passage of new ordinances in cities and states allowing entrepreneurs to set up businesses from home — a boon for women and people of color who face systemic barriers.

The pandemic has fueled the passage of new ordinances in cities and states allowing entrepreneurs to set up businesses from home — a boon for women and people of color who face systemic barriers.

“Corporate America was not built for Black people and certainly it was not built for Black women. This is why we must carve out our own space.” This is how my conversation with Marty McDonald, founder of Boss Women Media, starts.

Edna Rashid’s story is typical of an aspiring entrepreneur achieving success with the help of Rising Tide Capital.

As we recap the past year, we are seeing an undeniable surge in the creation of new businesses led by Black and Latinx women.