Entrepreneurial Women of Color: Small Business Success in California's Food Industry

Background:In trying times of the United States economy, embarking on a small business has served as a way for individuals to build economic capital for themselves and their families while increasing social mobility.Since the nation's financial crisis in 2008, we have seen an increase in the number of women and individuals from an ethnic minority background who have entered the field of entrepreneurship by owning and managing small businesses.In turn, employment opportunities have increased nationwide, as small businesses account for approximately 40% of net jobs in the past two decades. 1 Despite the substantial consensus across various research studies that have concluded small businesses are the anchor of the nation's economy, those owned by women and people of color are disproportionately affected in terms of accessing business capital and resources.California policymaking officials and various community development financial institutions (CDFIs) have recognized the importance of supporting these individuals by launching many financial initiatives that seek to uplift these underrepresented communities within the field of entrepreneurship. 2 In bridging equity, many of these initiatives aim to reach small business owners who are both a person of color and women-identifying.