The reality of starting a business in America

Launching a business is hard. Starting a business as a black woman in the United States is even harder.

According to a report prepared by the U.S. House Committee called the State of Black-Owned Businesses in America, there are historic challenges and barriers that disproportionately impact Black-owned businesses. As an African American woman who is an entrepreneur, I did not need an official report to tell me that. I live this every day. I already know how hard it is to get a business up, running, and profitable enough to experience significant growth.

In fact, 41% of Black-owned U.S. small businesses closed between February and April of 2020. A staggering number of black-owned businesses were forced to close their doors in 3 short months due to the pandemic.

I launched my coaching company in September 2016 with very little confidence and even less money. I persevered because quitting was never an option. However, if I started over again today, there are several things I would do differently.

Today, I’m sharing 5 tips to start your business and set yourself up for success faster.

01:49 - Some small business statistics

03:22 – How Covid affected Black-owned businesses

03:57 – Why I didn’t apply for funding when I started my business and why many other marginalized communities don’t either

05:53 – The Christian Women’s Business Academy Podcast's mission

06:28 – 5 tips you can take to launch or relaunch your business

06:31 – Tip 1

07:52 – Tip 2

09:50 – Tip 3

11:54 – Tip 4

13:41 – Tip 5

17:41 – Bonus Tip

19:36 – Today’s scripture

Resources and links mentioned in this episode:

• U.S. House Committee Report: The State of Black-Owned Businesses in America
• Spiritual Gifts Guide
• Streamyard Referral Link