The number of women of color entrepreneurs has been growing steadily and is, in fact, one of the fastest growing segments of the US economy. According to the National Foundation for Women Business Owners' (NFWBO) report, "Facts on Women-Owned Businesses: Trends Among Minority Women-Owned Firms," the number of Black women-owned firms increased by 135%, employment grew by 70%, and sales rose by 55% between 1987 and 1996. Minority women-owned firms grew 153% between 1987 and 1996, at triple the overall business growth rate in the United States. But despite the staggering figures, women of color still have a harder time gaining access to capital. Women of color entrepreneurs are less likely than white women entrepreneurs to currently have bank credit. A NFWBO report, "Women Business Owners of Color: Challenges and Accomplishments" states that 50% of women of color entrepreneurs have bank credit as compared to 60% of white women business owners.

Access to capital was particularly difficult for Black women business owners. They were more likely to be turned down for a loan when starting their business. Only 29% of Black women entrepreneurs were likely to borrow capital to launch their firms as opposed to 37% of Asian, 45% of Native American/Alaska Native, 49% of Caucasian and 51% of Hispanic women business owners.

Women of color, in general, are less well represented in the US workforce. Of the 57.8 million women in the workforce, 77% are white. And of the 2.9 million women in management, 85.7% are white. In a Catalyst survey, "Women of Color in Corporate Management," only 34% of 1,700 women surveyed said they were satisfied with their advancement opportunities. The major barriers to advancement being: lack of mentorship, lack of informal networking, lack of role models and lack of high visibility projects.

But despite these obstacles, women minority-owned businesses are quickly growing and becoming a major force in today's U.S. economy. In fact, one in eight of the nearly eight million women-owned businesses in the U.S. is owned by a woman of color.

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