Celebrating International Womens Day
International Women's Day
This International Women’s Day, we honor and celebrate the remarkable achievements of Black women across the globe. Their resilience, innovation, and entrepreneurial spirit inspire us every day. Join us as we shine a light on their contributions and explore how Cashblack and Afrofiliate empower and amplify their voices.
Celebrating the Impact of Black Women in Business
Black women have long been pioneers in shaping communities and driving economic progress. Despite systemic barriers, their contributions to the world of entrepreneurship and innovation are unmatched:
- Black women own 14% of all women-owned businesses in the U.S., with similar growth observed in the U.K., where they own 4% of all Small and Medium-sized Enterprises (SMEs).
- As the most entrepreneurial demographic, 17% of Black women are engaged in entrepreneurship, compared to 15% of white men.
- Despite their significant achievements, only 1% of U.S. venture capital funding reaches Black women founders, highlighting a gap that Cashblack and Afrofiliate aim to address.
Sources: American Express 2019 State of Women-Owned Businesses Report, British Business Bank 2020 UK Diversity Report
Driving Innovation Across Industries
Black women are not only succeeding in business but are also disrupting industries with groundbreaking ideas:
- Approximately 30% of Black women founders lead innovation in their respective fields, a rate higher than the overall average of 22%.
- Between 2007 and 2023, Black women-owned firms in the U.S. saw a remarkable 164% growth, contributing over $100 billion in combined revenue in the U.S. and U.K. between 2019 and 2023.
Sources: McKinsey & Company, American Express 2019 State of Women-Owned Businesses Report, British Business Bank 2023 Small Business Equity Tracker
Thriving in the Health and Beauty Sector
The health and beauty sector has long been a cornerstone of Black women’s entrepreneurial ventures:
- Black women spend 25% more on health and beauty products compared to other demographics, contributing an impressive $10 billion annually to this industry worldwide.
- It’s no surprise that 22% of Black women-owned businesses operate in this sector, creating jobs and fostering innovation.
Sources: McKinsey "The State of Fashion: Beauty", Nielsen's "African-American Women: Our Science, Her Magic"
The Growth of Black Women-Owned Brands on Cashblack
Through Cashblack, we’re proud to support the incredible Black women-owned brands that bring diversity and creativity to our platform:
- The number of Black women-owned brands on Cashblack has grown by 30%, outpacing the platform's overall growth rate.
- Alongside iconic names like Fenty Beauty and Sienna Naturals, dozens of SMEs owned by Black women have joined our platform.
- By 2026, we project that over 3,000 Black women-owned brands will be part of the Cashblack network.
Source: McKinsey Institute for Black Economic Mobility
Empowering Black Women Through Afrofiliate
Afrofiliate serves as a critical tool for economic empowerment, providing Black women creators and affiliates with opportunities to thrive:
- Black women comprise 65% of Afrofiliate's top-performing creators, who are on track to drive over $1 million in affiliate sales in 2025.
- Last year, women creators on Afrofiliate achieved a 40% increase in earnings, demonstrating the power of strategic collaboration and support.
- By 2026, we anticipate that over 2,000 Black women will earn an income through Afrofiliate's growing network.
Source: Afrofiliate, 2025
Supporting Black Women Beyond International Women’s Day
Our commitment to uplifting Black women extends far beyond International Women’s Day. Through Cashblack Giveback donations, we’ve supported initiatives that create lasting impact:
- In 2024, 45% of donations were directed towards women and girls-focused charities.
- We aim to surpass £20,000 in charitable donations by 2025, funding projects that promote women’s education, healthcare, and entrepreneurship.
Source: Cashblack