Black Women Entrepreneurs Growing Exponentially: Venture Forward Report

By: GWL Team | Sunday, 25 February 2024

Nowadays, entrepreneurship has been rising with the contribution women entrepreneurs specifically women in colour. This change is driving innovation in addition to social change. Even after all this, gender differences remain a concern as revealed by Venture Forward study.  The study stresses on the need of an ecosystem which is more inclusive and where entrepreneurship’s full potential is unlocked.

The world has become a fast-pacing place where people have started getting creative and running towards an economically better society. With this mindset, entrepreneurship is shining bright with innovative people taking major steps to provide monetary growth and opportunities.

From urban to rural, cities to villages, people with entrepreneurial mindset are booming in the desire of success. These entrepreneurs are founding companies with innovative ideas to drive economic growth and build a contemporary market with good opportunities.

In this not-so-steady realm, entrepreneurs being innovative and creative, are using their skills to tackle new-age challenges and solving problems to make the life of people easier.

Even entrepreneurship has been transforming for betterment. In the past few years, people’s exposure towards entrepreneurship are getting more and more wide. From technological advancements to changing global market dynamics, they are trying to transform the society and people’s life with their originality.

As we go into a more technologically advanced world entrepreneurship has growing and bringing more opportunities for the people with skills and need, both. The Introduction of Artificial Intelligence is also bringing new ideas and jobs for people to explore and try out their inventiveness.

All these aspects are bringing a flood of inventions and skillful creativity which is resulting in a better business model and news good/services.

Women in Entrepreneurial World

 When we are talking about entrepreneurship, we cannot forget that women entrepreneurs have been doing more than a lot lately. Their skills, creativity and managements are just few of the aspects of doing good in the entrepreneurial space.

Women all around the world are known for their endurance and resilience but in this new world, women are breaking all barriers to show what they can do for the society with their leadership skills. From their homes to office boardroom, they are proving their potential to every person who believed that women were weak.

With each passing day, women’s importance in the entrepreneurial scene is increasing because of their skills such as providing new insights, collaborative approach to business, inventive solutions and most importantly, decision making. Even after having pulled down, women are carving out a niche in the male-dominated professions.

In every sector, women entrepreneurs are marking their legacy and making history with their innovative ideas and the dedication towards a gender inclusive society. They are becoming the catalysts of social change and spreading positivity. From corporate to NGOs, women entrepreneurs are excelling everywhere.

After the arrival of women in entrepreneurship, the society specifically the business acumen to directing towards a more comprehensive ecosystem. Women, with their talents and aptitude, are bringing growth to various sectors which was previously controlled by men only. Women entrepreneurs are fuelling transformation with total collaboration along with understanding.

In this new era, women are serving as CEOs, CFOs, Founder, the list goes on and on. And this is inspiring hundreds and thousands of women to pursue their dreams without compromising and pushing down their ambitions.

Advancing Female Representation Amidst the Lingering Gender Gap

Even after so much of progress in the past few years, we cannot say that women don’t face any challenges regarding their gender. Women still face challenges in the business world. Women entrepreneurs continue to struggle for equality.

A study has been taken into consideration which was published by GoDaddy's Venture that gives insights about entrepreneurship specifically women of colour. Women entrepreneur majorly face barriers and hurdles as compared to their male-counterparts. And when it comes to women of colour, these challenges get doubled up and the encounter even more disparity.

Amongst all the women out there, Black women are growing comparatively on a faster pace as entrepreneurs but when it comes to gender equality then we can see a problem there, in entrepreneurship. This entrepreneurial sector required even more efforts to support Black women grow.

According to the report, black women are lagging somewhere in this sector because of several aspects particularly in mentoring, networking support, funding in addition to hindrances in the conservative structure of the business world.

If we take this on serious account and try to break these hurdles and cultivate an inclusive ecosystem then we can certainly tackle gender inequality. And when women get full support to unleash their full potential then the society shall become a better place and most importantly, the world will see a economic growth.

Deep search of the Report

The Venture Forward Report unveils about how the current entrepreneurship scenario in operating. The study majorly focuses on microbusinesses because this sector is the most critical sector to generate economic development in addition to job creation.

As stated in the report, Black women entrepreneurs are majorly playing the business market. Black entrepreneurs have a great affluence in entrepreneurial landscape. This study highlights the need to putting extra attention on their growth especially disadvantaged groups.

The study explains how microbusinesses plays an important role in the society. From household earnings to community development in addition to economic resilience, microbusinesses help in the benefit of the monetary growth. Understanding this shall help business leaders, policy makers and stakeholders to use proper tactics to thrive in the entrepreneurial sector.


In conclusion, Entrepreneurial sector is growing with dramatically and opportunities are coming each day but women entrepreneurs are still lagging somewhere to win the battle of gender equality in the business world. Specifically, Black women entrepreneurs are suffering more in this market despite having the biggest participation in the race. Black women entrepreneurs are coming up with innovative ideas and plans towards a good economic progress.

Venture Forward report highlights the need to create a better workplace for the women entrepreneurs, particularly black women. It urges to build a gender inclusive environment so that the world of business and grow benefiting the people and the society. By creating such a space, we can focus on the real problems and come up with relevant solution together with effective decision-making.