fbpx

Two Atlanta Businesses Welcome Support of C200, a Non-Profit that Addresses Disparities Facing Minority Women Business Owners

Source:The Atlanta Journal-Constitution

Before COVID-19 hit, the number of women-owned businesses grew 21% from 2014 to 2019; the number of firms owned by women of color almost doubled to 43%. And, while that is encouraging, it’s a bit… fill in the word… startling, mystifying, unsettling, interesting, outrageous… that minority female-owned businesses averaged $65,800 in revenue in 2019 while non-minority women-owned businesses saw a flushed bottom line of $218,800, according to “2019 State of Women-Owned Businesses,” that was commissioned by American Express.

Research shows that in many ways the gap between white women entrepreneurs and women of color “mirrors the systemic challenges and disparities faced throughout history,” says Kareem Hall, who runs Emory University’s Goizueta Business School’s Start:ME micro-business accelerator program for East Lake and Southside.

“These disparities are augmented by some of the recent challenges going through the pandemic. White entrepreneurs have better access to capital, networking and resources to start and grow businesses. It’s similar to why so many women of color entrepreneurs didn’t qualify for the first round of the Paycheck Protection Plan; they needed prior relationships with a bank, a minimum number of employees. People of color tend to be rejected at higher rates from banks. The cards are stacked against many businesses led by women entrepreneurs of color,” he says.

To help offset this disparity in an immediate way, C200, a Chicago-based nonprofit whose mission is to “inspire, education, celebrate and advance women entrepreneurs” set up CHAMPION, a program that provides professional networking, a 12-week course on growing the entrepreneur and the business from Babson College’s WIN Lab Global, and a $25,000 grant.

Read the full article here.

Thank You To Our Sponsors!