How To Close The Inequality Wealth Gap According To 5 Black Women In Finance

As a Black woman, in my work and life, I think about access to capital and wealth accumulation for black people and women. There is no simple solution to closing the racial wealth gap. It persists in this country and is a remnant of slavery, Jim Crow, and institutionalized racism. Despite making up 13% of the US population, Black people constitute less than 3% of the wealth in this country.

Finding the right mentor is essential. I call my mom my chief strategy officer. I have had to make tough decisions with respect to my career and to have someone to bounce ideas off of is so important. As important as it is to have a mentor, it’s also crucial to have a sponsor, someone who is in a position to advocate for you to get the opportunity.

Gingerbread Capital was created with the intention of investing in female founders leading high growth businesses. We are vocal advocates for this community because we believe in the power of diversity to achieve optimal outcomes. Research has shown repeatedly that investing in teams with at least one female founder tends to produce larger returns so we focus on investing in talented founders with big vision and the ability to execute.

It took me going through difficult life lessons to handle my finances better. I did a complete career change to a financial strategist for this very reason. I serve from a lens that completely empathizes with those who grew up without any financial education or guidance. I’ve created my lane in the business finance world with a mission to facilitate what wealth looks like in the lives of women of color.

I know there is a lot of discrimination within the industry, definitely when it comes to banking. The people who are on the inside loaning out the money and giving these opportunities, they don’t look like black women. I have experienced discrimination as a black female entrepreneur especially in the banking industry. It took learning and building relationships inside and outside of the bank. When I started to do that things changed for me. Before then, I self funded my projects.

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How To Close The Inequality Wealth Gap According To 5 Black Women In FinanceI spoke with five women about what drives them and their advice for minorities and women pursuing financial freedom.
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