Number of African-American female business owners grows - WMC Action News 5 - Memphis, Tennessee

Number of African-American female business owners grows

(Source: WMC Action News 5) (Source: WMC Action News 5)
MEMPHIS, TN (WMC) -

The United States has a new group of entrepreneurs rapidly climbing to the top.

According to the 2015 State of Women-Owned Businesses Report, the number of women-owned businesses grew 74 percent since 1997.  The number of businesses owned by African-American women outpaced all other businesses with a 322 percent increase since 1997.

In downtown Memphis, 32-year-old Kimberly Taylor owns and runs the 5-year-old clothing store K'presha.

"It's awesome," Taylor said. "I think I've always had an entrepreneurial spirit. My nickname was CEO in high school, so it has always been the path I wanted to go on as far as ownership."

Taylor is one of millions of black female entrepreneurs in the United States.

The 2015 State of Women-Owned Businesses Report elaborated that black women own approximately 14 percent of all U.S. women-owned businesses.
That statistic amounts to 1.3. million businesses bringing in $52.6 billion in revenue as of 2015.

"Females for one, inferiority where males are concerned and then couple that in with minority. So then it's double minority," Taylor explained. "The fact that you're seeing a double minority category moving forward at a faster rate than anyone else, that's amazing."

To find out more about the 2015 State of Women-Owned Businesses report, click here.

Copyright 2015 WMC Action News 5. All rights reserved.
 

Powered by Frankly