According to a new report from the National Women’s Business Council, more women of color are taking on the title of entrepreneur than in years past. The report analyzes newly released Census data on American businesses business for the years 2007 through 2012.
Despite the economic downturn that hit the United States at the end of 2007, women of color are doing big things. Entrepreneurship among black women has increased 67.5 percent, and their more than 1.5 million companies account for 60 percent of all black-owned businesses. There was an 87 percent increase in the number of companies owned by Latinas, which brings the total to nearly 1.5 million. And Asian-American women saw an increase in ownership of 44 percent, with more than 754,000 enterprises in operation.
Overall, there are 9.9 million businesses owned by women of all ethnicities and races. That’s an increase of 27.5 percent—a big jump from the 20 percent growth reported for the previous five-year period. Meanwhile, men-owned businesses grew less than eight percent.