Supporting Black Women Owned Businesses is more important than ever...
As stated by Forbes and Gerui Stengel a writer for Forbes Women: ''Small businesses need support during the coronavirus pandemic, especially those in neighborhoods hardest hit by it. And if small businesses fail, it isn’t just their companies that will suffer, it is the entire community that will lose access to goods and services. Neighborhood workers who invest their paychecks in the local economy will lose their jobs, too. The firms most at risk of failure are owned by black women.
Black women represent 42% of all net new women-owned businesses, according to the American Express 2019 State of Women-Owned Businesses.* That's three times their share of the female population (14%). While Black women are increasingly becoming entrepreneurs, projections of Census data shows the size of their businesses shrank after the Great Recession.** Other businesses grew. Average revenue of:
Black women-owned businesses decreased by 41%.
White women-owned businesses increased by 21%.
Men-owned businesses increased by 16%.
Structural differences in personal wealth, business experience, and networks, as well as different entrepreneurial motivations and increased likelihood of being single mothers balancing caregiving responsibilities with running a business result in Black women having small—and increasingly smaller—businesses.
This pattern must not be repeated with this economic downturn. Yet, the signs are already here: The Covid-19 crisis is already hurting Black women entrepreneurs more.''
Today we partnered up with Chloe + Chad to support them in their growth goal and here is why the StretchPatch chose them apart from their superior product made with care....here is Ashias story:
Aisha Besson, an accountant who works full time, turned her kitchen into a virtual lab, creating organic and natural soaps, balms, lotions and body butters. A Brooklyn native who was born in Trinidad and Tobago, Aisha spent most of her late nights and weekends creating products into the wee hours of the morning. In October 2016 Aisha took a leap of faith and decided to go full launch with her products. Armed with support from family Chloe and Chad was officially launched.
It all began in 2010 as Aisha watched as her sister was diagnosed with breast cancer on two separate occasions. Having made the decision to have double mastectomies, Sherry was still pretty down. During this time Aisha also had her first child Chloe and began experimenting with natural soaps, and lotions that were safe for both her sister and daughter. Then in September 2014 Aisha had her son Chad who had severe eczema, again Aisha was in full production mode making organic products to calm her sons’ eczema, as everything prescribed by doctors didn’t seem to work. This time around Aisha was determined to be consistent with her butters, as her family and friends were often requesting her creations.
Now the brand has evolved from just products for the skin to home products such as candles and room & linen sprays.
Go Aisha! <3
- With love by the StretchPatch Team