Numbers don’t lie; though women of color have continued to dominate the business world, they still suffer from economic inequity.
By Cy White, Illustrations by Jessica Wetterer
A study conducted by American Express found that as of 2019, 50% of all women-owned businesses are owned by women of color.
According to a study by the Texas Women’s Foundation, the average full-time income of women of color (Asian, Hispanic/Latinx, Black) is $29,870.50, as opposed to $48,395 for white women.
In Texas, of the businesses that identified the gender of the owner, women-owned businesses received an average of 24.2% of PPP loans under $150,000.
In 2019, overall businesses owned by women of color generated $422.5 billion in revenue.
While overall businesses owned by women of color generated over $420 billion in revenue, individual businesses averaged only $65,800, compared to non-WOC-owned businesses, which averaged $218,800. A difference of over 300%.