A Love Letter and a Call to Action
As we prepare to close out 2024, Blaze Group is proud to unveil the 2024 State of Black Women-Owned Businesses Report®. This annual report is more than just data and insights—it is a testament to the strength, resilience, and innovation of Black women entrepreneurs.
Black women are not just leading businesses; they are redefining what it means to build legacies that matter. This year’s report provides a closer look at their experiences, motivations, and challenges, while offering actionable recommendations for financial intermediaries and policymakers who are committed to equitable economic systems.
What’s Inside the Report?
The 2024 State of Black Women-Owned Businesses Report® unpacks key themes shaping the entrepreneurial journeys of Black women across the United States.
Here are just a few of the insights you’ll discover:
The Need for Bundled Financial Services: Small businesses thrive with simplified, affordable access to banking, legal, accounting, and insurance support.
Grant Funding vs. Personal Savings: While grants remain hard to access, businesses funded through personal savings often demonstrate faster revenue growth due to the discipline required.
Combatting Revenue Stagnation: Over half of Black women-owned businesses reported flat or declining revenue, underscoring the urgent need for education, resources, and targeted funding.
This report is a roadmap for those who seek to better serve Black entrepreneurs and a love letter to the trailblazing women who inspire us to do more, every day.
Why This Report Matters
The findings in this year’s report are not just about highlighting disparities; they are about creating pathways for change. At Blaze Group, we’ve expanded our mission to empower Black communities globally:
Through financial education delivered via our mobile app (iOS/Android).
By upskilling financial intermediaries to design inclusive, scalable solutions for underserved populations.
This report equips decision-makers with the data and tools they need to close gaps, amplify impact, and build systems that prioritize equity.
How to Use This Report
Whether you’re a policymaker, a financial institution, or a community leader, the 2024 State of Black Women-Owned Businesses Report® offers actionable insights to guide your strategies. We invite you to explore its findings and join us in crafting solutions that meet the expressed needs of Black women entrepreneurs.
📖 Ready to dive in? Download the 2024 Report Here
Together, let’s create plans and pathways for an inclusive financial future.
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