Currently, black women are starting businesses at 6 times the national average, but are not seeing the same receipts as other founders. There are 3 major areas where women of color are in need of support: access to capital, access to influential networks and the ability to hire employees. The lack of access to capital for women is becoming a more prevalent part of the entrepreneurial conversation however solutions to solve the issue are still evolving. Black Girl Ventures is specifically focused on creating access to capital for women. All programming is centered on addressing this issue head on.
Historically, African Americans have been finding creative ways to fund themselves for decades. The Black Girl Ventures Pitch Competition is patterned after the “Rent Party.” In the early 1920’s over 200, 000 Blacks migrated to Harlem for job opportunities. Due to discriminatory rental rates it became challenging to afford living expenses. Harlemnites would charge an admission fee, invite musicians to play and raise the money to pay the rent with basement parties. These parties were organized an attended by great Black artists such as Langston Hughes, Fats Waller, Duke Ellington, etc.
GROWTH IN # OF BUSINESSES
GROWTH IN # OF RECEIPTS