by stacey jackson
May 17, 2024
The survey found that Black women believe the federal government’s role is important in promoting entrepreneurial opportunities.
A new study from Goldman Sachs’ One Million Black Women (OMBW) initiative, released May 16, sheds light on the entrepreneurial aspirations of Black women across the country.
The survey results revealed that 6 in 10 black women perceive entrepreneurship as a viable means of accumulating wealth. Furthermore, if barriers were minimized, many people would enthusiastically pursue business ventures to better themselves, their families, and their communities. The national survey, titled “One Million Black Women National Survey: Empowering Entrepreneurs,” received responses from 1,200 participants. This represents the latest effort under OMBW, Goldman Sachs’ ambitious $10 billion investment to close the opportunity gap for at least 1 million Black women by 2030.
Survey results predict that 54% of Black women who do not currently own a business will consider starting their own business. Notably, 77% said they would be more likely to embark on an entrepreneurial journey if they had better access to business loans, grants, lines of credit, or seed funding. Additionally, 71% said a streamlined process for obtaining a business license or permit would act as a catalyst for their entrepreneurial pursuits.
“Black women are starting businesses faster than any other demographic in this country. But these job creators need the know-how and resources to grow and scale,” says Gold. said Asahi Pompei, global head of corporate engagement at Man Sachs. “OMBW: Black in Business is part of the solution, but we also need policy solutions that further invest in the economic power of Black women entrepreneurs.”
Aisha Curry, CEO of Sweet July and member of the OMBW Advisory Board, said she is committed to working with “one million Black women” to advocate for policy solutions. “When Black women are economically empowered, that positive ripple effect spreads throughout the community,” Curry said.
Other findings from the survey revealed that 63% of Black women believe the federal government can play a more active role in promoting entrepreneurial opportunities. Only 35% of black women business owners feel their interests are adequately represented in Washington. Additionally, 32% of Black women who plan to vote in the 2024 presidential election are still unsure or unsure about their preferred candidate. As mentioned earlier, black companies, Regina Davis Moss, president and CEO of In Our Voice, said earlier this month that Black women’s votes are “key to ensuring equity and justice for our families and generations to come.” ”. This statement emphasizes the influential voting power of Asian American and Pacific Islander (AAPI), Black, and Latina/x women and ensures that policymakers and politicians prioritize issues that directly impact their daily lives. It followed the release of new polling data that revealed that the
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