Three Advantages To Investing In Women Of Color — Cynthia Plouché
I came across or something less haphazard sounding an article published in Forbes “Three Advantages To Investing In Women Of Color”, by Michelle King. When it comes to the outcome and benefits of investing in women of color, this article mentioned three fascinating advantages that can help improve our economy and increase job opportunities.
Access to capital and financial inclusion leads to financial strength /personal empowerment and priming the pump of individual and generational wealth.
Female entrepreneurs often hire other women or people of color, providing more access to jobs while also providing opportunities for skill development, labor pipeline supply, and increasing overall employment levels.
Investing in women business owners will increase job creation, reduce unemployment rates, and promotes empowerment and financial health and wellbeing.. By creating a community of women business owners and increasing the number of Black women-led businesses, multiple barriers can be broken down and provide a wide-ranging support system for this ecosystem.
“There are many institutional biases that women of color face. When we think of an entrepreneur or someone who’s successful and powerful, we don’t often envision a woman of color. That inherent bias really creates critical hurdles,”
“To overcome these challenges, Sundial Brands Founder, CEO and Executive Chairman Richelieu Dennis, founded the New Voices Fund, which launched earlier this year. This $100 million fund, invests in businesses owned or managed by women of color, including start-ups, established businesses, and community-based enterprises.”
“Given that women-owned business (that receive venture funding) outperform their male peers by as much as 63%, investing in women entrepreneurs makes good business sense.”
“As a community of women entrepreneurs, we can be stronger and find solutions to our challenges. We can develop expertise, combine our talents and speak to the world with a louder voice.”
Inherent bias has hindered the success of startups led by women of color. The stigma surrounding the idea of even working with them has led to negative proclamations that affect their self-development. With that being said, negativity also surrounds the topic of investing in businesses owned by women of color. If we kept that mentality, we are going backward in time and that will not help the business evolution.
In a community, we nurture a support system and opportunities for growth where sisterhood is power.
Read the full article here.
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Cynthia R. Plouché is the founder and CEO of The Alzenia Project, a nonprofit organization that leverages the impact of other nonprofits to help young women of color achieve personal and professional growth. Along with her devotion to advancing diversity, Cynthia is also an inspiring business leader. She has a successful career in investment management, including more than 10 years as co-founder and chief investment officer of a woman-owned firm and culminating in ongoing corporate board leadership within the mutual fund industry.
