The Good News Is...
The number of women and minority-owned businesses has soared over the past 5 years.
The Bad News Is...
98% of them do not have access to the investor funds that could help them start and grow their businesses.
Women-owned businesses in the U.S.
The percentage of women-owned businesses that has increased in the U.S. since 2017
The percentage of Black women-owned businesses that have soared since 2015
The increase in minority-owned businesses between 2007-2017
Investors are missing out on $4.4 trillion in business receipts because of these disparities.
"Had the number of women and minority-owned businesses and portion of revenues matched their percentage in the labor force - 56% - then 2012 gross receipts would have increased to $6.8 trillion, suggesting a missed opportunity of $4.4 trillion."
The most common narratives why women and minority-owned businesses are denied access to VC funding?
Not a priority for investors
Women and minorities are judged differently
Fear of rejection
Regardless of the reasons why venture capitalists do not fund more women and minority-owned businesses, the reality is that they will not change anytime soon, if at all.
The venture capitalists that do fund women and minority-owned businesses seem to focus on technologies.
The majority of women and minorities who desire to become entrepreneurs, but are not in technology, have only three options...
1. Continue to struggle operating their businesses and hoping for the best
2. Return to working for a salary
3. Join a network marketing company where only 3% become successful
By using SaaS and PaaS cloud-based platforms, we have created a unique and exciting business model designed for women and minorities who desire to become successful entrepreneurs.
As a digital entrepreneur, there is no need for venture capital funding or a bank loan to start or scale a business.