October is National Women’s Small Business Month #NWSBM.

There are at least 10 million women-owned businesses in the United States. Women-owned firms employ 8.9 million people, and generate receipts of $1.4 trillion according to the Survey of Business Owners (SBO).

Black women are the fastest growing group of entrepreneurs in America. An American Express Open report found that the number of businesses owned by African American women has grown 322% since 1997.

The rate of entrepreneurship in America has been down since the late 70s. As the U.S. economy continues to recover from the “Great Recession” black women are leading the way in ensuring our economy has the economic dynamism that entrepreneurship brings.

Earlier this month, the National Women’s Business Council (NWBC)unveiled a new report prepared by Walker’s Legacy: Black Women Entrepreneurs: Past and Present Conditions of Black Women’s Business Ownership. The report gives a snapshot of details the findings of black women business owners who participated in three research events earlier this year.

Black women have always been the center of their communities. Increasingly, they are at the center of the U.S. economy. There are 1.5 million black women business owners; in every state and every sector the economy.

Starting businesses is important, ensuring they have the capital, guidance, and training to scale an hire is next step.

Here are 31 brilliant black businesswomen you can support during National Women’s Small Business Month.

Nichole Porcher — Buy From a Black Woman: Brings awareness to Black Women business owners and the people who support them.

Bianca Lambert — MaeB: Mae B is a lifestyle brand dedicated to creating positive imagery and well made products for women of color. Mae B was founded in 2013 by Bianca Lambert after growing tired of not finding stationery that represented her as a woman of color and devoted fashionista. The brand has since expanded into travel accessories, home goods, and much more.

Maci Peterson — OnSecondThought: OnSecondThought is a mobile app that lets you take back text messages BEFORE they get to the other person’s phone.

Read more here….

In honor of National Women’s Small Business Month, this post celebrates black female entrepreneurs from this season of ABC’s “Shark Tank,” while highlighting the value of African American women as small business owners in the American economy…

October is National Women’s Small Business Month. This month, two teams of black female entrepreneurs are featured on ABC’s Emmy-winning show Shark Tank.

Earlier this month, Memphis-based Angels and Tomboys® secured a deal with Sharks, Daymond Johnand Mark Cuban. Later this month, Philadelphia-based LuLu Bang will pitch their business to the Sharks.

Angels and Tomboys

Co-founded by two kid-trepreneur sisters, nine-year-old Mallory (the tomboy) and 11-year-old Madison (the angel), Angels and Tomboys® is a beauty and body care company for “tween and teen girls.” The current line employs a paraben free, patent pending, and vegan friendly formula. Scents include Candy Star Glam™, Frozen Hot Chocolate™, and Lemonade Doughnuts™.

On episode four of Season 8, Mallory, Madison, and their mom Viera pitched Angels and Tomboys to The Sharks. The initial ask was $55K for 20% of the company, marketed toward girls ages five to 12.

After sharing their story and motto, “All girls are created equally different,” with $58,000 in revenue to date, Mark Cuban and Daymond John invested $60,000 for 33% of the company.

Read more here…

Latangela Newsome created “Grease Bags” after trying—unsuccessfully—to find a safe and easy way to dispose of used cooking grease. On Friday, Jan. 13, the “momtrepreneur” will pitch her business to the sharks on ABC’s Shark Tank.

When she does, she will join an increasing number of black entrepreneurs on the eighth season of the hit show, including PetPlate, Naturally Perfect, Lulu Bang, and Angels and Tomboys.

WHY GREASE BAGS?

Grease is often listed by plumbers as one of the top causes of clogged drains. However, in addition to clogging drains itself, grease can trap other particles as well, eventually creating an impassable and expensive mess.

Pouring grease down the drain is as hazardous to the environment as it is your bank account. Clogs can lead to sewage backups, pollution of water filtration systems, and personal and commercial pipeline replacements.

Newsome’s patent-pending, all-natural, nontoxic, absorbent bags provide an easy way to compost used cooking grease. Once the grease is poured into Newsome’s Grease Bags, the natural active ingredients neutralize the smell and absorb the grease.

As the U.S. economy continues to recover, this simple and eco-friendly product might be well positioned to take advantage of the new business environment.

Read more here…

Supporting minority-owned and operated businesses may be his best opportunity to successfully engage communities of color

In his inaugural address, President Trump said, “We, the citizens of America, are now joined in a great national effort to rebuild our country and to restore its promise for all of our people.”

The impact of entrepreneurship, driven by small businesses that grow and hire, means more jobs, social mobility, and investment in the communities that need it most. Supporting minority-owned and operated businesses may be President Trump’s best bet to successfully engage communities of color.

The Campaign

On Election Day 2016, as expected, Hilary Clintonoverwhelmingly won votes from communities of color. Perhaps surprisingly, President Donald Trump earned a greater share of votes from communities of color than Mitt Romney did in 2012. In the end, Trump won.

Since then, headlines have been punctuated by the struggle of many in communities of color to grapple with the fact that a campaign filled with often-offensive overtures won, and that despite this their communities cannot afford to take a step back.

President Trump preparing to speak at Great Faith Ministries in Detroit, MI

Throughout his campaign, President Trump consistently confronted communities of color with a stark and often dire picture of their economic and social reality. He also promised that he was uniquely qualified to make things better. His speeches in Detroit, Charlotte, NC, and elsewhere highlighted the tragedy in the journeys of many communities in America but left out the triumph. Yes, African American, Latinx, Native, and other households trail majority households in many economic measures; this must be addressed. However, there are positive and inspirational stories that can assist in this work.

Read more here…