The Facts About Women, People of Color, and LGBTQ+ Businesses

 
 

The historical performance of women and minority-founded businesses is a compelling story. There is research that shows women-led startups typically outperform those led by men, and there is similar data for Black, Latino, and LGBTQ+ founders.

Women Founded & Led Business Facts

 

  • Women-founded businesses deliver higher rates of revenue, more than 2x per dollar invested, when compared to those founded by men

  • There are over 12 million women-owned businesses in the US generating $1.8 trillion a year

  • Women business owners are quicker at adapting to change

  • Women founded companies provide a better customer experience and tend to be more socially responsible

  • Women launch 1,200 new businesses every day in the US

 

Black Founded & Led Business Facts

 

  • Black entrepreneurs have a history of innovation, creativity, and resiliency

  • Black entrepreneurs are more likely to give back to their communities

  • Black businesses generate $206 billion a year in revenue and support over 3.5 million jobs in the US

  • Black women are the fastest growing demographic of entrepreneurs in the US, accounting for 2.7 million businesses nationwide

 

Latino Founded & Led Business Facts

 

  • Per a study by Latinos in Business, Latino-owned businesses have seen revenue growth of 25% per year over the past two years. In the same period, white-owned business revenues grew by 19%

  • Latino-owned business are significantly more likely to have their business loan applications rejected, despite strong metrics on lending criteria

  • Even with the funding disparity, Latinos are opening more small businesses than any other ethnic group in the US

 

LGBTQ+ Founded & Led Business Facts

 

  • There are an estimated 1.4 million LGBTQ+ run companies in the US, accounting for around $1.7 trillion a year in revenue

  • LGBTQ+ individuals are often strongly entrepreneurial, as they may face challenges and discrimination in being open in honest in a large corporation or enterprise

  • According to a report from the National Gay & Lesbian Chamber of Commerce (NGLCC), LGBTQ+ run businesses generate more profits, and stay in business longer than their straight-run counterparts