A recent Goldman Sachs One Million Black Women (OMBW) survey found that six in 10 Black women view entrepreneurship as an important pathway to wealth creation, and believe more can be done to advance entrepreneurship opportunities. By addressing the systemic barriers they face when building their businesses, entrepreneurship could become a viable pathway to help narrow the opportunity gap.
With 1,200 respondents, One Million Black Women National Survey: Empowering Entrepreneurs is the latest national survey from One Million Black Women, Goldman Sachs’ $10 billion investment commitment to help narrow opportunity gaps in the lives of at least one million Black women by 2030.
Key findings from the national survey include:
• 64% of Black women are optimistic about their ability to grow their wealth over the course of their lifetime.
• 61% of Black women view entrepreneurship as an important pathway to wealth creation (compared to 42% of US adults).
• 54% of Black women who do not currently own a business have considered starting their own business.
The majority of Black women surveyed shared that increased access to entrepreneurial resources and opportunities would be the tipping point for them to start a business.
• 77% of Black women said they are more likely to start a business if they had increased access to business loans, grants, lines of credit or seed funding (compared to 58% of U.S. adults).
• 71% of Black women said they are more likely to start a business if they had access to a business training course or accelerator program (compared to 43% of US adults).
• 71% of Black women said they are more likely to start a business if the process to obtain a business or trade license or permit was easier (compared to 49% of US adults).
• 67% of Black women said they are more likely to start a business with access to more networking opportunities (compared to 43% of US adults).
Learn more at GoldmanSachs.com.