The Nielsen Company’s latest consumer report reveals that, despite institutional barriers that disproportionately separate them from venture capital, Black women’s entrepreneurial strength is growing at a higher rate than other groups of women.
“African-American Women: Our Science, Her Magic,” which Nielsen released today (September 21), uses U.S. Census data to quantify Black women’s power to influence the economy, media and politics. Data from the 2015 Survey of Business Owners shows that the number of businesses majority-owned by Black women grew 67 percent between 2007 and 2012, compared to 27 percent for all women and 13 percent for White women. Nielsen quantifies that growth at 1.5 million Black woman majority-owned businesses as of 2015.
The report references “#BlackGirlMagic” to describe this holistic power: ”While it started as a social media hashtag and rallying call for Black women and girls to share images, ideas and sources of pride in themselves and other Black females, it has also become an illustration of Black women’s unique place of power at the intersection of culture, commerce and consciousness.”
Download the full report at Nielsen.com.