Location: Denver, CO
Mission: Our mission is to provide Black women entrepreneurs with free and low-cost coaching, training, technical assistance, and community to both ensure their success and close equity gaps in entrepreneurship. We aim to increase the number of black women entrepreneurs who own profitable, scalable, sellable businesses. We believe our program participants will become pillars and leaders in their community who are able to infuse resources in Black underserved communities and inspire entrepreneurship in young Black youth.
Black women entrepreneurs are the fastest-growing group of entrepreneurs in the country, but among the lowest-earning and least funded. The revenue gap between Black women business owners and all women business owners is the most stark ($24,700 vs. $143,100, respectively). Women of color business owners saw their revenues drop during 2007 to 2018, from $84,000 to $66,000. During the same period of time, non-minority business owners saw their average revenues increase, from $181,000 to $212,300.
Overall, Black businesses tend to have lower sales, fewer employees and smaller payrolls, lower profits, and higher closure rates. The FBE seeks to increase access to capital and strengthen financial and business literacy in the Black business community through culturally-responsive, high-touch services and business development programming.
Sistahbiz is working to change these realities.