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Top Black Female-Owned Businesses
The world of entrepreneurship is an exciting and challenging one for business owners. For Black women business owners, the path to success can be even more difficult. Despite facing systemic challenges and obstacles, many African American women have risen to the challenge and built thriving Black-owned businesses that are making waves in their industries.
From technology and fashion to beauty and food, Black women entrepreneurs are creating innovative products and services that not only generate revenue, but also empower and uplift their communities.
Key Points
- According to the Census Bureau, indicates that there are 3.12 million Black-owned businesses in the U.S. generating $206 billion in annual revenue and supporting 3.56 million U.S. jobs
- Some of the challenges that Black female entrepreneurs face include lack of access to capital and limited access to markets and customers
- Some of the top Black female-owned businesses making waves include: Briogeo Hair Care, Castamira, Fenty Beauty, Honey Pot, Ivy Park, Hungry Bunny, Klur, Oprah Winfrey Network, Pipcorn, The Lip Bar and Revamped PR
Disclaimer
The contents of this article are for educational purposes only. They are not intended to be a source of professional financial advice. You will find experts on financial planning, financial management, and real estate here. More on disclaimers here.
The State of Black-owned Businesses in America
The latest data from the Census Bureau indicates that there are 3.12 million Black-owned businesses in the U.S. generating $206 billion in annual revenue and supporting 3.56 million U.S. jobs. Out of the 3.12 million Black-owned businesses, an estimated 140,918 are reported to be Black-owned employer firms.
Back in 2019 when the COVID-19 pandemic hit, Black business ownership dropped by over 40% (more than any other race), and only 29% of Black applicants received government aid compared to 60% of White applicants.
In America today, Black women are the fastest growing demographic of entrepreneurs in the U.S., and they own nearly 2.7 million businesses in the country. The initiative of supporting local small businesses has helped Black business owners and Black women entrepreneurs to gain more clients and make more sales.
Despite Black female entrepreneurs facing challenges such as lack of access to capital and limited access to markets and customers, here are Black owned brands that are women-owned that continue to thrive.
Top Black Women-Owned Businesses
Briogeo Hair Care
Briogeo Hair Care is a natural hair care brand that was founded by Nancy Twine in 2013. The brand's philosophy is centered around using clean, natural ingredients that are free of sulfates, silicones and parabens to promote healthy, nourished hair.
Briogeo offers a range of hair care products including shampoos, conditioners, hair masks, scalp treatments and styling products. The brand's formulations are made with a variety of natural ingredients, such as avocado oil, rosehip oil and bamboo extract, which are chosen for their ability to nourish and strengthen hair.
Nancy Twine, the founder of Briogeo, comes from a background in finance and worked on Wall Street before launching the brand. She was inspired to start Briogeo after noticing a lack of clean, natural hair care options that were effective for a variety of hair types.
In addition to its focus on natural ingredients and effective formulations, Briogeo is committed to sustainability and transparency in its production processes. The brand uses recycled and biodegradable packaging, and partners with suppliers who share their commitment to ethical
Castamira
Chantel Davis is the founder of Castamira, a luxe swimwear brand that she founded in 2017.
When she started Castamira, the Jamaican-born designer had just come out of a modeling contract and had had two startups fail. She has managed to grow her brand to offer quality and affordable swimsuit pieces to her clients. Castamira is a luxury swimwear brand that aims to enhance the beauty and sensuality of its clients. The swimsuits are carefully crafted to empower women to be bold, confident and sexy.
She decided to focus her brand on one-piece swimsuits due to her insecurities with her own body. She believes the human body is an art, and draping the fabric of a full-body suit shows the full landscape of a woman's curves and heightens the imagination of what is underneath.
She has gone through several struggles for her business to be where it is today but still sees room for growth.
Fenty Beauty
Fenty Beauty is a cosmetics brand founded by Barbadian singer, actress and entrepreneur Rihanna in September 2017. The brand quickly gained popularity for its inclusive range of makeup products that cater to a diverse range of skin tones and types. Fenty Beauty has been praised for its commitment to diversity and inclusivity, as well as its marketing campaigns that celebrate individuality and self-expression.
In the first year, Fenty Beauty became the biggest beauty brand launch in YouTube history, going live in 17 countries on the launch day and ready to ship to 120 others.
It also led to the Fenty Effect, which called on all industries to challenge the status quo. This caused beauty brands to expand their products to be more inclusive. Investing in such a business is one of the best ways to effect the much-needed change.
Honey Pot
The Honey Pot Company is a feminine care brand that was founded by Beatrice Dixon in 2014. The company offers a range of natural and organic products, including menstrual pads, tampons, panty liners, and washes.
Dixon, a Black woman entrepreneur, created The Honey Pot with the aim of providing women with healthier and more natural alternatives to traditional feminine care products. The company's products are made with ingredients such as herbal extracts, apple cider vinegar, and coconut oil, and are free from harmful chemicals such as parabens, sulfates and artificial fragrances.
In addition to its focus on natural and organic ingredients, The Honey Pot is committed to promoting women's health and empowering women. The company has partnered with various organizations to support women's health initiatives, and its products are designed to promote overall vaginal health.
The Honey Pot has received widespread recognition for its innovative and socially responsible products. The brand has been featured in major publications such as Forbes, Elle and Essence, and has won several awards, including a 2019 Women's Health Beauty Award.
Hungry Bunny
Khloe Hines was among the unfortunate people who lost their jobs during the pandemic layoffs. She chose to see it not as a bad thing, but as an opportunity to jump on her dream and serve the community. With that, she started Hungry Bunny, a virtual shop that dealt with a healthier alternative to normal donuts.
The donuts are vegan and 100% cruelty-free and organic, which is one of her main selling points. She bakes them from her home and delivers them right to your front porch.
Ivy Park
Ivy Park is a clothing brand co-founded by Beyoncé and Sir Philip Green, a British businessman, in 2016. The brand was initially launched as a joint venture with Topshop, but in 2019, Beyoncé bought out Green's shares and took full ownership of the brand.
Ivy Park offers a range of activewear and athleisure clothing, including leggings, sports bras, hoodies, and tracksuits. The brand's designs feature a mix of bold colors, graphic prints, and minimalist styles, and are designed to be both functional and fashionable.
In addition to its focus on fashion, Ivy Park also emphasizes inclusivity and diversity. The brand offers a wide range of sizes and features models of different ages, races and body types in its advertising campaigns.
Ivy Park has gained a following among both fashion and fitness enthusiasts, and has been worn by a number of celebrities and influencers. The brand has also collaborated with Adidas to release a line of sneakers and apparel, which was highly anticipated and well-received.
Klur
Klur by Lesley Thornton is a skincare line that focuses on creating clean, sustainable and effective skincare products. The brand is committed to using natural and organic ingredients, as well as avoiding potentially harmful chemicals such as parabens, sulfates and synthetic fragrances.
Some of the key ingredients in Klur products include plant-based oils and extracts, vitamins, antioxidants and peptides. The brand offers a range of products, including cleansers, toners, serums, moisturizers, masks and body care products.
Klur also emphasizes the importance of creating a skincare routine that is personalized to each individual's unique skin concerns and needs. The brand offers a Skin Quiz on their website, which helps customers determine their skin type and recommend products that are best suited for them.
Oprah Winfrey Network
The Oprah Winfrey Network (OWN) is a cable television channel and media company that was launched in January 2011. The network is a joint venture between Oprah Winfrey's Harpo Productions and Discovery Inc., and is available in more than 80 million homes across the United States.
The programming on OWN primarily focuses on lifestyle, entertainment and self-improvement. The network features original series, documentaries, and talk shows hosted by Oprah Winfrey and other personalities. Some of the most popular shows on OWN include "SuperSoul Sunday," "Iyanla: Fix My Life," "Greenleaf," and "Queen Sugar."
In addition to its television programming, OWN also offers digital content through its website and mobile app, including articles, videos and podcasts. The network has also created several initiatives and partnerships to support education, health, and social justice causes.
Since its launch, OWN has received critical acclaim and has been recognized for its diverse and inclusive programming. The network has won several awards, including NAACP Image Awards and Emmy Awards, and has become a leading destination for viewers seeking inspirational and uplifting content.
Pipcorn
Pipcorn is a snack food company that was founded in 2012 by brother and sister duo Jeff and Jen Martin. The company specializes in small, crunchy popcorn kernels that are gluten-free, non-GMO, and made from high-quality ingredients.
The company has gained a reputation for its commitment to sustainability and social responsibility. The company sources its ingredients from small family farms, and its packaging is made from biodegradable materials. Pipcorn is also a certified B Corporation, which means it meets high standards of social and environmental performance, transparency, and accountability.
Since its founding, Pipcorn has received several awards and recognition for its innovative products and sustainable practices. The brand has been featured in publications such as Forbes, The New York Times and Oprah Magazine, and has become a popular choice for consumers seeking healthier, more environmentally friendly snack options
The Lip Bar
The Lip Bar is a cosmetics brand founded by Melissa Butler in 2012. The brand was created with the goal of providing high-quality, vegan and cruelty-free makeup products that are inclusive and accessible to all skin tones.
The Lip Bar initially gained popularity for its range of bold and vibrant lipsticks, which come in a variety of shades and finishes. Since then, the brand has expanded to offer a range of other makeup products, including foundations, eyeshadows, and blushes.
The Lip Bar is committed to using natural and safe ingredients in its products, and avoids harmful chemicals such as parabens, sulfates and phthalates. The brand also prioritizes sustainability by using eco-friendly packaging and minimizing waste in its manufacturing process.
In addition to its focus on clean beauty and sustainability, The Lip Bar also promotes inclusivity and diversity in the beauty industry. The brand offers a wide range of shades to cater to all skin tones, and features models of different ages, races, and sizes in its advertising campaigns.
Revamped PR
Myrlaun Walker founded a very successful PR company in Los Angeles, Revamped PR. She leveraged her bachelor of science, fashion, and retail management to create the publicity and management agency.
It focuses on brand development through business exposure, brand design, brand alignment, and network introductions, with a focus on fashion and music. What really makes her company stand out is her dedication to the business, creative approach to branding, and connections in the industry.
Apart from running her company, she is a contributor to Forbes, HuffPost, Paper Magazine, and more.
Conclusion
Black female-owned businesses are growing faster than all other women-owned businesses combined. And since they are doing it with so many odds stacked against them, just imagine the impact you could have if you decided to do away with just one of the odds: financing.
But it's entirely up to you whether you want to be part of a team with a high likelihood of winning, or not.
If you decide to invest in black female-owned businesses, whether from the above or not, the best way to do it is through Bay Street Capital Holdings.
Bay Street Capital Holdings
Bay Street Capital Holdings is an independent investment advisory, wealth management, and financial planning firm headquartered in Palo Alto, CA. They manage portfolios with the goal of maintaining and increasing total assets and income with a high priority on managing total risk and volatility. Although many advisors may focus on maximizing returns, they place a higher priority on managing total risk and volatility.
Our founder, William Huston founded Bay Street after 13 years of supporting the United States' largest retirement plan ($650B) Thrift Savings Plan. He is recognized as Investopedia’s Top 100 Financial Advisors for 2021. In California, only two black-owned firms out of nineteen firms received this recognition.
In Scottsdale Arizona, Ekenna Anya-Gafu CFP, AAMS is recognized among the Best Financial Advisors for his responsiveness, friendliness, helpfulness, and detail. Bay Street was founded to advocate for diverse and emerging fund managers and entrepreneurs. In 2021, Bay Street was selected as a finalist out of over 900 firms across the US in the category of Asset Manager for Corporate Social Responsibility (CSR).
Sources
https://voyagemia.com/interview/meet-chantel-davis-castamira-brickell/
https://gopuff.com/blog/news/jennifer-martin-pipcorn
https://www.cew.org/people/beatrice-dixon/
https://www.byrdie.com/the-lip-bar-10-year-anniversary-interview-5219522
https://briogeohair.com/blogs/b-spoke/this-founder-left-finance-to-run-her-own-natural-beauty-line
https://www.ksn.com/gooddaykansas/hungry-bunny-donuts/
