Honoring Black Entrepreneurship: A Legacy of Innovation and Impact
With approximately 5 million Black entrepreneurs representing 14.5% of all business owners, Black-owned businesses play a vital role in generating over $207 billion in economic impact and providing more than 1.3 million jobs. Since 2012, Black business ownership has increased by 34%, outpacing overall business growth. Download the complete factsheet here.
However, despite this growth, Black entrepreneurs continue to face substantial barriers. Many start their businesses with less capital due to the racial wealth gap and are disproportionately reliant on costly financing alternatives, such as credit cards. Black business owners are also denied credit at nearly twice the rate of white entrepreneurs and report significant challenges accessing professional support and advice.
As we reflect on the achievements of Black entrepreneurs, it is crucial that we work together to dismantle barriers to growth and sustainability. AEO remains committed to advocating for greater access to capital, resources, and support to ensure that all entrepreneurs, including Black entrepreneurs, have the opportunity to unlock their full potential and continue driving community development across the country.
On February 25, as part of our celebration of Black History Month, please join us for a dynamic virtual event spotlighting the resilience, creativity, and contributions of Black entrepreneurs. Panelists will share perspectives from their work, offering insights on how to build a small business ecosystem where all entrepreneurs can flourish.
We’re bringing together industry leaders and experts, including:
- Natalie Madeira Cofield, President & CEO, Association for Enterprise Opportunity (AEO)
- Nicole Elam, President & CEO, National Bankers Association
- Dr. Kenneth Harris, President & CEO, National Business League
- Jessica Fulton, Vice President of Policy, Joint Center for Political and Economic Studies
- Stephanie DeVane, Vice President of Entrepreneurship & Business Development, National Urban League
- Dr. Lori Smith, Senior Research Associate, AEO
Click here to join us for an important conversation, on February 25, 2025.
Sincerely,
Natalie Madeira Cofield
President & CEO
Association for Enterprise Opportunity (AEO)
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Natalie Madeira Cofield is the President & CEO of AEO, the voice of innovation in entrepreneurship and small business in the United States. AEO and its ecosystem partners have helped millions of entrepreneurs contribute to economic growth while supporting themselves, their families, and their communities. |