Although black women are the most educated group, they don’t really have access to managerial positions in corporate America and the pay gap is still very high. Also, they are absent from the fortune 500 companies:
In the midst of all the chaos, let’s not forget to celebrate black women (and men) !
Although black women are the most educated group, they don’t really have access to managerial positions in corporate America and the pay gap is still very high. Also, they are absent from the fortune 500 companies:
“The only black woman to ever helm a Fortune 500 CEO was Xerox’s Ursula Burns, who stepped down in 2016. (Last year, after the 2019 list was published, Mary Winston served as interim CEO of Bed Bath & Beyond for several months.)
That means that black CEOs make up a tiny fraction—just 1%—of the Fortune 500 despite African-Americans representing 13.4% of the U.S. population, according to the most recent government estimates. In all there have only been 18 black CEOs on the Fortune 500 lists since 1999. The peak was six in 2012.” – Phil Wahba.
Because of this, black women took matters into their own hands and became the group to start businesses at the fastest rate, according to a research by American Express. It is said that since 2007, the number of firms owned by black women had grown by 164%, which represents half of the women-owned business in the US. According to Amoye Henry, “We have a similar growing group of promising businesses led by Black founders here in Canada, and now is the time for investors to better understand the nuances within these unique founders that provide their businesses massive growth potential.”
This is encouraging and deserves to be celebrated. While we are still protesting for Breonna Taylor, Georges Floyd, Ahmad Arbery and all the others who weren’t caught on camera, another weapon we can use is supporting black economy.
Many of us can relate to the struggle of finding the right service, where we feel welcomed, understood and included.. Whether it’s hair and skin care, mental health, lawyers, doctors, fitness etc…. I believe black women and men can provide us with the right service for us.
Encouraging black economy can have many positive effects on change. Not only can it make room for more black owned businesses, it can also help hire more black people. Having black women and men in positions of leadership or as CEOs can also inspire and pave the way for the next generation. As many black Canadian businesses face funding issues from the government, pushing the black economy can contribute to opening these doors.
Be the plug and share Canadian Black Owned Businesses !