Ownership Is Power Even When We Fall

Black women are the most powerful, excelling in education, acting as nurturers, and serving as natural-born leaders. They are also the fastest-growing group of entrepreneurs in the United States. What do all these qualities have in common? The common denominator is the Black woman.

​Black women are exactly who we think we are, and so much more. Our history as business owners dates back to the mid-1800s, when Black women did what was necessary to survive; working as dressmakers and hairstylists to build businesses from nothing. Pioneers like Madam C.J. Walker and Annie Malone showed us that ownership is power.

​Having our own has always been part of our willingness and understanding of how important ownership truly is. When you have your own, you have power: the power to make a difference and the power to extend opportunity.

​Recently, however, several Black women have been shamed for failed business ventures, from hair salons to innovative restaurant groups that were well-conceived and creative. But we all know business is not always smooth sailing. Innovative ideas can become old news. Demographics change. Support can dwindle. These are normal challenges for any business owner.

​So why is it that when Black women face these challenges, they are dragged through the mud? Why are they immediately accused of mismanaging finances or living above their means, or met with comments like, “We knew she couldn’t do it?" Why can’t the narrative include reality... that investors may have pulled out, that landlords failed to fix maintenance issues, or that economic shifts impacted operations?

​According to J.P. Morgan, there are structural reasons why many Black women-owned businesses struggle or close within a few years:

• ​High Startup, Low Survival Rate: Black women are the largest demographic of women starting businesses, yet only three percent survive longer than five years.

• ​Funding Disparities: Black women-owned firms are less likely to receive financing approval, with 61% relying on self-funding or bootstrapping.

• Industry and Size: Many operate in lower-margin sectors like retail and service and often remain smaller with lower revenue.

• Systemic Factors: Disproportionate closures and bankruptcies are largely tied to limited access to capital, structural inequalities and being hit hardest during economic crises.

​Before we assume the worst of a Black woman business owner, let’s remember that the odds have always been stacked against us. Before we judge, let’s pause and think: This is a woman who birthed an idea from a need she saw and a desire to be her own boss. She raised the capital, built something from the ground up and had the courage to bring her vision to life.

​Let’s take a moment to recognize how much bravery that takes. Instead of kicking someone when they are down, let’s rally behind them. Let’s hope they keep that same spirit to get back up, rebuild and try again.

*** Cover image generated using AI ***