Black women are the fastest-growing group of entrepreneurs

In recent years, news around women at work has been bleak—especially for Black women. Unemployment for Black women rose significantly in 2025, moving from 5.4% to a rate of 7.3% by December, as federal job cuts disproportionately hit them. And, according to U.S. Bureau of Labor Statistics data, over 300,000 Black women either left the workforce or were laid off in a period of just three months last year. However, there is a silver lining: Black women are becoming the fastest-growing group of entrepreneurs in the United States. According to recent data from Wells Fargo, between 2024 and 2025, Black women-owned employer businesses grew by 13% and their revenue was up almost 6%. Black women-owned businesses without employees grew by 13% and revenue surged by 8%. By comparison, female-owned businesses grew at a rate of 4.4% during the same period of time. The growth is impressive, but it is driven by a lack of opportunities inside corporations. Aside from current economic woes, AI fears, a