Black women are more likely to start a business than their white counterparts. According to a study published by professors at Babson College and cited by Fortune, 17% of Black women are in the process of starting or running a new business, compared with 10% of white women and 15% of white men.
The study further found that 61% of Black women entrepreneurs self-fund their ventures. “If 61% of Black women start with their own funding, and Black women in particular start with more debt and less equity, they’re starting with a smaller amount,” the study found.
What this means is that Black women have less access to private funding or venture funding to start or run their businesses. However, in recent times, some organizations have come up with funding schemes to make grants available to Black female entrepreneurs. Below are 10 such organizations.