According to a JP Morgan report from October of 2021, Black women have led the pack in entrepreneurial endeavors since the onset of the pandemic.
While the last two years have led to an influx of people starting their own businesses, Black women were the fastest growing segment of business owners. A 2020 report from the Kauffman Foundation further proved this, finding that Black entrepreneurs were outpacing both Asian and white-owned businesses.
A recent LinkedIn survey of over 1,000 Black entrepreneurs in the US showed that around half of respondents cited the growing accessibility of flexible and remote working as a factor in encouraging them to pursue new business ventures.
However, many of these respondents said they were working to achieve these dreams while still working at their current jobs.
While 52% of respondents stated that their employer supported them running a business, one in three said they have not told their company about their business endeavors. This might partially be due to many of these businesses being in their early stages.
Workers want to continue bringing in steady income while getting their side gigs off the ground. The survey showed that the majority of Black entrepreneurs would stay at their full-time job until they have enough funding to pursue their business full-time.
