These traders, who are called "Madan Sara" in Haiti or "Nana Benz" in Togo, are the pillars of their economy. I am therefore not surprised to see that they stand out in the entrepreneurial sphere, and this, all over the world.

Entrepreneurial DNA Africa alone has the highest rate of women entrepreneurs in the world. According to an American Express Open report (2015), 30% of all businesses in the United States are owned by women, representing approximately 9.4 million businesses. And 14% of these are controlled by black women, representing approximately 1.3 million businesses.

Right around us, the nurse who receives us at the CLSC or the clerk who serves us at the bank surely has a side job while waiting for her business to fly on its own. These "sidepreneurs" or "mompreneurs" (entrepreneurial moms) most often work in the beauty sector (hair, cosmetics), but also in fashion and food.

Mountainous route

While it is not always easy for a woman to start an entrepreneurship, the obstacles are multiplied when she comes from a visible minority. How many of them struggle to pay their operating costs? An American study reveals that women-owned businesses generate an average of $143,000 per year. On the other hand, for women of colour, the average income went from $84,000 in 2007 to $64,000 in 2018. In comparison, those of white women business owners went from $181,000 to $212,000.

How can this be explained? In the United States, black women entrepreneurs receive only 0.006% of venture capital funding, according to ProjectDiane, compared to 2% granted to women. Unfortunately, there are no similar studies in Quebec, but I would not be surprised if the American data reflects our reality.

Another problem: the investor, the lender, the bank, the school often have little or no knowledge of the products of these entrepreneurs and underestimate the market and the purchasing power of this specific clientele. This lack of knowledge blocks access to the ecosystem. I would be curious to know how many scholarships and loans have been given to women of color. During a round table on the subject with Minister Mary Ng, several Quebec Afro-entrepreneurs raised the point that they were not considered credible and that their products or services were devalued because they were black.

Continue the dialogue towards solutions

Fortunately, there is an increasing number of people listening. To counter systemic racism, we have created organizations such as Entreprendre Ici, a national organization aimed at newcomers and entrepreneurs from ethnocultural diversity. Groupe 3737, an innovation and diversity hub, or Chantier d'Afrique au Canada (Chafric), which offers a business launch program. I also had the pleasure of meeting Femmessor to explain the situation of Afro-entrepreneurs and see how we could better support them.

We can certainly do more. Wouldn't it be desirable to see, within the walls of SAJE, PME Montréal, the École des entrepreneurs du Québec, BDC, Réseau M or the Réseau des femmes d'affaires du Québec, which really support entrepreneurs, qualified staff and executives with whom black women can identify? Employees who know the ethnic market and who have the power to approve projects. Banking institutions, lenders and any other organization offering financing or support must become strong allies for racialized women entrepreneurs, take the time to welcome them, find them the necessary support, such as offering them mentoring, for example. And above all, relax or adapt the eligibility criteria for scholarships or financing, which are often too high and do not correspond to the socio-economic reality of Afro-Quebec women.

To Black women entrepreneurs, get ready ! And do your homework: business plan, financial statements, sales pitch… Quebec is fertile ground for anyone who wants to be an entrepreneur. The resources are there and accessible to all. Seek help from professionals. Attend networking evenings. Find a mentor. Get out of your comfort zone and trust yourself! Go for it!