It's no secret that Black women are the fastest-growing entrepreneurs in the United States. Nationally, Black women entrepreneurs own about 2.7 million businesses. We are forward thinkers, creating something special for those around us. With all the greatness coming out of our communities, Black women-owned businesses are still underfunded and lack the financial resources to scale and thrive long-term.
Like the corporate sector, wealth inequality also challenges Black women entrepreneurs. According to a JP Morgan report, over 60% of Black women startups self-fund due to a lack of access to capital. These businesses see a rejection rate 3x higher than their white counterparts. The result is dollars allocated to basic expenses rather than growth strategies.
Since our founding in 2019, Get The Bag has put our knowledge, relationships, and insights to work to develop, curate, and advocate for resources, opportunities, and pathways to empower and fund Black women entrepreneurs. Founder Gloria M. Ware's dedication to identifying and sharing entrepreneurial initiatives that provide access to capital and culturally competent support ensures Black Women entrepreneurs receive the funding and resources needed to succeed.
Get The Bag's Financial and Social Capital efforts revolve around securing the bag! We customize plans, resources and strategies focusing on curated grants, and business funding. By providing various funding readiness content, we can equip entrepreneurs with the tools we need to grow and scale.
Additionally, we understand the importance of strategic connections and make key introductions to increase business opportunities. Our Black Women Entrepreneurs Support Directory ensures Black women entrepreneurs connect to a holistic array of business support and self-care resources that center our needs and experiences.
From 2019 to 2022, Get The Bag has supported 140 Black-owned businesses, identified and shared over 300 business funding opportunities, made 30 strategic business connections that lead directly to revenue, funding, or high-value resources, and generated and secured $3.2 million in new revenue and funding for entrepreneurs. We also have:
- Launched Get The Bag Covid Relief Funding Guide
- Co-published "Ohio RISE Black Women Entrepreneurs & Covid Business Impacts" Report
- Delivered closing keynote for the National Society of Black Engineers Regional Conference
- Introduced the lovingly curated and free, Get The Bag Business Grant Calendar
- Co-developed the "Rise To Wealth" Business Conference for Black Business Women
- Appeared in Time Magazine's "Role of Small Business and Companies in Climate Fight"
- Participated in Dayton Startup Week's "Investing in Underrepresented Founders Panel"
- Presented at the NAACP Cleveland Wealth Building Symposium
Get The Bag values collaboration and partnerships. Here is what trusted partners Tanya Manning-Grant and Bele Wondwossen say about us.
"After some frustrating experiences navigating the local ecosystem for funding, through introductions and advice from Gloria of Get The Bag, I was able to secure funding and a five-figure contract."
Tanya Manning-Grant, TMG Professional Services
"The Get the Bag team are truly cheerleaders of women-owned businesses with up-to-date, valuable information that will help you grow your business and give you exposure to available funds and grants geared to your business type. I'm glad I joined Get the Bag."
Bele Wondwossen, Phenomenal Woman Magazine
View our complete 2019-2022 Impact Report here. The result has been overwhelming, but there's more to come. Stay tuned for Part Two, where we discuss Customer Capital.
Need to secure the bag? Message us at firstname.lastname@example.org or www.getthebag.biz/contact to schedule your consultation.