American Express has revealed the 100 Black women entrepreneurs selected for its “100 for 100” programme, which will provide each with grants of $25,000 and 100 days of business resources.

The company will also provide the awardees with business education, mentorship, marketing, virtual networking, WorkSpaces by Hilton hotel reservation credits and more.

American Express created this programme in partnership with IFundWomen of Colour, the leading platform for women of colour to raise capital, to support Black women entrepreneurs as they work to jump start and grow their business ventures.

The initiative is part of American Express’ recently announced $1 billion action plan to enhance diverse representation and promote equal opportunities for its colleagues, customers and communities.

Remarkable grown before Covid-19

Prior to the pandemic, Black-women-owned businesses were growing at unprecedented rates yet still making less revenue than their counterparts.

In fact, according to last year’s State of Women-Owned Business report, commissioned by American Express, Black, women entrepreneurs were founding 763 new businesses every day – making them the fastest growing entrepreneur group in America.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Yet, they still do not have equal access to the resources they need to grow and be successful.

The awardees are true innovators

Clayton Ruebensaal, EVP Global B2B Marketing, American Express, said:

“The Black women entrepreneurs selected for the programme have created many types of innovative, early-stage businesses across the country, inspiring and carving new paths for others to follow.

“Their business plans demonstrate that great ideas often come out in times of hardship, and American Express is committed to continuing to back small businesses and advance equal opportunity for aspiring entrepreneurs, particularly during these challenging times.”

The awards make a crucial difference

Karen Cahn, Founder and CEO of IFundWomen, said:

“Through our years of experience with businesses in need of funding, we have found $25,000 can truly change the trajectory of an emerging business. It could be the difference between one month of rent or five months, between being able to develop a decent prototype or a prototype that’s really not-so-great, and between doing real consumer testing or no testing at all.