“Intersectionality is a lens through which you can see where power comes
and collides, where it interlocks and intersects” Kimberlé Crenshaw.
The intersectionality of race, and gender has a huge impact on the experiences
of entrepreneurial Black women. The Black Woman Collective believes in the
strength of diversity and fostering an inclusive and intersectional community
that celebrates unique and shared identities.
As Black women pursuing entrepreneurship, it is important to acknowledge the
intersections of identity that will impact shaping your entrepreneurial journey.
Despite making up the highest percentage of entrepreneurs Black women are
disproportionately disadvantaged in terms of support for running their
businesses. According to data consensus, 3.5 % of the black population in
Canada are self-employed of which 30 % (10.200) are women, Black women
entrepreneurs run small underfinanced businesses due to lack of access to
financing. Black female founders earn an average revenue of just $24,000
compared to $142,900 among all women-owned businesses and have. It can
also be noted that Black business owners who apply for funding have a
rejection rate 3 times higher than white business owners. While studies show
that women in general face challenges in securing funding, these challenges are
often hard for Black women. Overcoming financial barriers becomes a multilayered struggle.
These extra hurdles mean Black women entrepreneurs must work 10 times
harder to get the same results. This can often lead to a poor work-life balance
for these entrepreneurial women. 48 % of Black entrepreneurs are solopreneurs
and 61 % of Black women self-fund their start-up capital. Cultural expectations,
societal pressures, and the determination to defy stereotypes all play a role in
many of us feeling like we have to do it all. We feel pressured to be the “Strong
Independent Back Woman” that we downplay experiences and struggles and
don’t give ourselves breaks to be vulnerable
The intersectionality of Black women entrepreneurs creates many barriers for
us but recognizing and addressing these challenges is essential for fostering a
more inclusive equitable entrepreneurial landscape. Amid the array of
challenges is a collective drive to reshape the narrative of the business world.
