When it comes to investing, there’s a serious wealth gap between investors and African American women entrepreneurs.
Since 2009, out of the more than $420 billion in total tech venture capital funding, the portion given to Black female founders was around .0006 percent, according to a Project Diane 2018 report. Even more alarming according to the report, the average investment for Black women was around $42,000, compared with the overall average of $1.3 million.
That’s where the nonprofit Brown Girls Do Invest comes in.
Founded in 2016, Brown Girls Do Invest works to educate women on how to invest in stocks, real estate, and acquire multiple lines of income. They travel throughout the United States to encourage women to invest their dollars to build a diverse financial portfolio.
“I am passionate about African American women feeling inclusive in the wealth conversation. It is important that we understand [the] ways we impact the economy. African American women have a voice and want to be heard. Our stories are different, yet the goal for financial freedom is just as important as anyone else,” the founder Bahiyah Shabazz told Black Enterprise.
In collaboration with three other financial experts, Shabazz has decided to offer the first-ever investing tour for women of color.
According to Black Enterprise, the tour covers aspects of wealth, including closing the wealth gap, investment and retirement strategies, and more. In addition, each workshop features speakers and a panel discussion comprised of financial experts within the city.
“I discuss the wealth disparity and how to close the gap. Courtney Richardson teaches investment and retirement strategies. Danielle Pierce teaches how to start real estate investing through tax liens and property preservation. Joanna Jane Bartholomew teaches principles of wealth creation,” Shabazz explained to Black Enterprise.
The next tour for 2019 will be held in Houston, Texas, according to the organization’s website.
Past cities have included Atlanta, Chicago, Philadelphia, New York, Charlotte, and Miami and conversation topics have ranged from Cannabis, investing in the stock market, and investing after college
2020 tour dates will be released in January.