Minority groups, specifically African American women (the fastest-growing group of entrepreneurs in the country right now, are struggling as they tend to seek out entrepreneurship for more opportunities and great flexibility but are failing at higher rates than their counterparts due to a lack of support in multiple areas: funding, cultural awareness, risks, and the challenges of raising a family.
According to a Pew Research Study, 51% of working mothers with children under the age of 18 (compared to 16% working fathers) indicated that being a working parent made it harder for them to advance in their career, which means despite all of the glass-ceiling-shattering progress of the past generation, women continue to report bearing a heavier burden in balancing work and family and are struggling the most with work and family balance.
Parent According to a Kauffman Foundation report on the Anatomy of an Entrepreneur, 59.7% of the entrepreneurs that they had surveyed had indicated that they had, at least, one child when they started their business, and 43.5% noted that they had two or more children. This means that over half of the business owners, who were surveyed, were balancing the challenges of parenthood and the business, which is, undeniably, one of the hardest to overcome.
Millennials both men and women, who enter the workforce with different demands and prioritize their families over their careers, make entrepreneurship and its supporting programs, unattractive to this audience.