During an exclusive interview with American Express research advisor Geri Stengel, we examine the trends in black-women owned businesses and ways to increase funding opportunities for female entrepreneurs.

“My advice for younger women that are starting businesses is to take advantage of all the resources that are out there and join accelerator programs. Research programs through SBA and business centers to evaluate financing,” says Stengel.

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Article published on www.blackenterprise.com.

Black Girl Magic is in full effect in the world of entrepreneurship. More women, particularly black women entrepreneurs, are taking the path to ownership, fully investing in themselves and future generations. If you’ve ever thought about being an entrepreneur, you’ll have the support of a sisterhood of women who are doing the same thing.

According to The 2017 State of Women-Owned Businesses Report commissioned by American Express, women’s entrepreneurship is growing at a fast pace. Women-owned businesses account for over one-third of all U.S. firms, resulting in an estimated 11.6 million firms in the United States as of January 2017. Leading the way in the entrepreneurship space are African American women. Women now own 30% of all businesses in the U.S., accounting for some 9.4 million firms. Additionally, African American women control 14% of these companies, or an estimated 1.3 million businesses.

“This is our time,” says Venus Opal Reese, CEO of Defy Impossible, Inc. and creator of the Black Woman Millionaire Tour. “Everything our ancestors have prayed for is at our fingertips. The social structures that have kept us in bondage have lessened.”

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Originally published by BlackEnterprise.com

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