According to a report by the Center for Women’s Business Research, Hispanic and African American women are the fastest growing entrepreneurial segments in the country growing at rates of 133.3% and 191.4% respectively from 1997 to 2007. Combined they represent more than two million of the roughly eight million women-owned businesses in the country and more than $14 billion in gross receipts. Further, African American and Hispanic women are three to five times more likely to start a business than their white counterparts.
For most minority women, the problem isn’t entrepreneurial appetite or the often-preached go-getter mentality; it’s sufficient financial and social capital resources to ‘lean on’.
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