Women of Color Own 2.4 Million Business

By: Errol Mars

According to the U.S. Census, 2.4 million (34%) of woman-owned businesses are owned by women of color (African Americans, Hispanics, Asians, and Native Americans).

As of 2002, there were nearly 7 million woman-owned businesses in the U.S. According to the U.S. Census, 2.4 million (34%) of those are owned by women of color (African Americans, Hispanics, Asians, and Native Americans).

This large group of minority business women are not just running traditional businesses like restaurants and hair salons. Many are running professional companies that offer a variety of services including: advertising, public relations, accounting, staffing, government contracting and more.

According to the National Association of Business Women and Moms (NABWM), women have also become incredibly active in the field of network marketing. Companies such as Mary Kay, Herbalife, Color Me Beautiful, Warm Spirit, and Isagenix have recruited a record amount of business women who now work as consultants and sales associates. It's currently unknown, however, as to whether or not network marketing women are considered to be actual businesses owners.

Despite this, minority women have a very strong role in the world of business and this could be what's preventing the United States economy from going into recession. The NABWM reports that women-owned firms generate $1.9 trillion in annual sales, and employ nearly 13 million people.

Source: The National Association of Business Women and Moms (NABWM)

Tags: Entrepreneurship, Small Business

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