Black women make up less than 10% of the U.S. population, but they've emerged as the fastest-growing group of entrepreneurs, new research from GoDaddy has found.
The number of Black women-owned businesses in the U.S. was trending upward even before the Covid-19 pandemic, which accelerated entrepreneurship overall.
Between 2017 and 2020, the number of Black women-owned businesses increased by nearly 20%, far exceeding the growth of women-owned businesses and Black-owned businesses overall, the Brookings Institution reports.
Ofodu's decision to leave Instagram reflects a larger trend of Black women ditching corporate jobs and flocking to entrepreneurship for more freedom, fulfillment and flexibility in their careers.
"When I go to industry events, I'm still one of the few Black people or women in the room," says Frelow, 53.
Persons:
they've, we're, Joy Ofodu, Instagram, Brianna Doe, Doe, Jessica Juniper, Alexis Rivera Scott, Rivera Scott, Leslie Frelow, Frelow, hasn't, I'm
Organizations:
Brookings Institution, Universal Service Administrative Company, Federal Communications Commission, Association of African
Locations:
U.S, Instagram, Phoenix, Boise, Washington ,, Maryland