Written by, Tamara Meyerhoff
As we fall into another season, we should celebrate the many daily inspirations we have in our lives. October not only marks National Women’s Small Business Month, but also the 26th anniversary of the Women’s Business Ownership Act of 1988! This act created more support for women business owners by providing opportunities for counseling, training, and mentoring. Since the enactment of the Women’s Business Ownership Act, women entrepreneurs have had increasing success. They are becoming drivers of the United States economy.
Every year, a State of Women-Owned Businesses Report is released. The 2014 report shows the continuing trend of previous years—successful women. This is especially true for African-American women in the United States. According to the report, African-American women own 49% of the businesses operated by African-Americans. Furthermore, they generate $49.5 billion in revenue! And, 22% of these businesses are in Illinois—hooray for our home state! Women are showing their talents, skills, and determination every single year.
These statistics aren’t meant to intimidate future women entrepreneurs, but to encourage them—encourage you! Most of these women had to start small. A tiny idea with lots of encouragement blossomed into successful businesses throughout the United States. The role of mentors can be essential in making dreams realities.
For the month of October, the inspiration of African-American women entrepreneurs will be a running theme in our weekly blog posts. Through this, I hope that all of you and your daughters will believe and support yourselves and others on your next endeavor. Never underestimate yourself!
Which African-American women entrepreneurs are your inspirations?