Business
Why African American women entrepreneurs have found success through buying existing companies
Women have drastically changed the business landscape over the past 5 years. American Express State of Women-Owned Business states that women-owned businesses have grown at double the overall population rate.
However, no demographic of entrepreneurs has grown faster than African American women. Black female entrepreneurs have started companies at over four times the overall population rate.
Although black women are the largest demographic of women starting businesses, many are bootstrapping and struggling for profit. Only 3 percent of black women-owned companies mature and survive longer than 5 years. As a result, many black women entrepreneurs have found greater success through buying and scaling existing companies.
Buying a company
Buying an existing business can be a great way for black women entrepreneurs eager to start and launch their careers.