A recent survey conducted by Goldman Sachs One Million Black Women (OMBW) reveals that a majority of Black women regard entrepreneurship as a significant avenue for wealth creation. The data suggests that if barriers were reduced, many would consider starting a business to support themselves, their families, and their communities.

The OMBW survey found that 60% of Black women view entrepreneurship as an essential pathway to wealth creation and believe more could be done to promote entrepreneurial opportunities. Addressing the systemic obstacles they encounter when establishing their businesses could make entrepreneurship a viable option to help bridge the opportunity gap.

The national survey, titled "One Million Black Women National Survey: Empowering Entrepreneurs," garnered responses from 1,200 participants. It is part of Goldman Sachs' $10 billion investment commitment to help narrow opportunity gaps in the lives of at least one million Black women by 2030.

Key findings from the survey include:

- 64% of Black women are optimistic about their ability to grow their wealth over their lifetime.

- 61% view entrepreneurship as an important pathway to wealth creation, compared to 42% of U.S. adults.

- 54% who do not currently own a business have considered starting one.

Increased access to entrepreneurial resources and opportunities was identified as a potential catalyst for most respondents to start a business.

Furthermore, the survey found that:

- 77% said they are more likely to start a business with increased access to business loans, grants, lines of credit or seed funding.

- 71% said they are more likely to start a business with access to a business training course or accelerator program.

- 71% said they are more likely to start a business if obtaining a business or trade license or permit was easier.

- 67% said they are more likely to start a business with more networking opportunities.

To further support entrepreneurs, 63% believe that the federal government could do more. Only 35% of Black women who own a business or sell a product/service feel their business interests are well represented in Washington.

"Black women are starting businesses faster than any other demographic in our country. But these job creators need the know-how and resources to grow and scale," said Asahi Pompey, Global Head of Corporate Engagement at Goldman Sachs. "OMBW: Black in Business is part of the solution, but we also need policy solutions that will further invest in the economic power of Black women entrepreneurs."

Ayesha Curry, CEO of Sweet July and member of the One Million Black Women Advisory Council, added, “As an entrepreneur myself, I know firsthand how challenging it can be trying to navigate starting a business. I’m honored to join One Million Black Women in their efforts to encourage policy solutions that help Black women-owned businesses thrive. When Black women are economically empowered there is a ripple effect in their communities.”

Alanna Nicholas, Founder of Capital Talent Development Group in Akron, Ohio, stated that entrepreneurship has historically created pathways to economic prosperity for Black women.

Goldman Sachs aims to highlight the challenges faced by Black women entrepreneurs through research, surveys and national advocacy campaigns, hoping to inspire policy makers to enact solutions that create positive change.

For more information about One Million Black Women’s latest survey findings, please visit here.