February 14, 2022 – The Blck Boss is delighted to announce that it has created a YouTube page to teach Black women business owners the tips and strategies they can employ to improve their businesses.
“This channel is dedicated to teaching women how to go from solopreneur to CEO. We help women who look like us specifically because too often we are overlooked. We as a people spend so much money in general. We want to help some of that money go into our women-owned businesses.”
According to the creators, while there is a constant rise of many first-generation small business owners, a lot of these new entrepreneurs lack the knowledge and expertise to successfully navigate the current business climate. In 2019, a report by the Small Business Administration (SBA) revealed that about 90% of new businesses will turn out to be unsuccessful. Further research revealed that 21.5% of new businesses fail in the first year, 30% in the second year, 50% in the fifth year, and 70% in their 10th year.
Another report by the Minority Business Development Agency (MBDA), revealed that 50% of women-owned businesses are owned by women of color. And despite the peculiar obstacles they face while trying to build and grow their businesses, they still have been known to reinvest about 90% of their earnings into their families and communities.
The Blck Boss YouTube channel hopes to bridge the gap between these women and the lifesaving business advice they need to not just stay afloat, but also build capable and long-lasting establishments.
Video link: https://www.youtube.com/watch?v=gNRbw8TM7N8
Keep up with The Blck B.O.S.S. on Instagram.
For more information, please contact below.