According to the latest findings by American Express OPEN, published in March of 2014, businesses owned by women of color now make up 32 percent of all women-owned businesses in the U.S. This is a tremendous growth, considering that in 1997, the percentage of women-owned businesses by women of color was just 17 percent.
The states with the largest share of African American women owned businesses
The largest concentration of businesses owned by African American women are:
#1: Georgia - 34 percent
#2: Maryland - 32 percent
#3: Illinois - 22 percent
In addition, on a national basis, African American women make up 14 percent of all firms owned by women. Other equally impressive facts about African American women-owned businesses include:
In 2014, there were 1,237,900 firms owned by African American women. These firms generated $49.5 billion in revenue, which is 29 percent of all the revenue generated by African American owned businesses.
To read the entire 2014 American Express OPEN Report of Women-Owned Businesses, visit: www.womenable.com/content/userfiles/2014_State_of_Women-owned_Businesses_public.pdf
