Between 2014 and 2019, the number of businesses owned by Black women increased by a staggering 50%. Black women are also the fastest growing group of entrepreneurs. At Provident1898, we want to support Black female entrepreneurs in their endeavors.
So, whether you’re an aspiring entrepreneur or you’ve already been in business for a while, we’d like to remind you of a few important things to consider.
- Protect yourself legally. Early on, it can be easy to overlook important legal matters, and it may only be later that you realize you’ve been cheated, or you missed something essential. When you start your business, and as you continue to grow it, always make sure to cover all your bases, legally speaking. Stay on top of insurance, consult with legal professionals when drawing up contracts, and protect your intellectual property.
- Use social media. Love it or hate it, social media rules the world. It’s a vital tool for growing your audience, connecting with them, getting feedback, advertising your products or services, and more. You might be hard to find without social media, so take it seriously.
- Find a supportive community. The best piece of advice we have for Black female entrepreneurs is to be part of a community. Surrounding yourself with supportive people is one of the best things you can do for your business and yourself. Seek out mentors and peers. Make networking a priority, and really get to know people who have similar interests or values. Having the right people around you will help you thrive.
Our coworking space in Durham, North Carolina is a great place for Black female entrepreneurs to meet, converse, and build each other up. Visit us or call to learn more.