Support Black Women-Owned Businesses in Philadelphia
Investing in women and women of color-owned businesses is essential to address gender and racial wealth gaps, making it more important now than ever to shop women of color-owned businesses. While businesses owned by women of color are one of the fastest-growing sectors of the economy, they face major barriers due to challenges like lack of access to capital and disparities in revenue. Statistics show that less than one percent of all venture capital goes to businesses owned by women of color. Even further, the Federal Reserve’s 2016 Small Business Credit Survey (SBCS) reports that Black-owned businesses are less likely to receive approval for financing and are more likely to be discouraged from applying for funding. Even further, businesses owned by women of color usually pay higher interest rates and are often denied loans from traditional banks, the study confirmed.
If you’re looking to help support these Black women business owners this holiday season, look no further. We’ve put together an extensive list of Philly-based Black women owned businesses to fit all your holiday shopping needs. Whether you’re shopping for a candle lover, art lover, fashionista, or book enthusiast, we’ve got local businesses that do it all. Plus, support our newly chosen finalists for the Raise Round-Up competition!
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