WHY WE CELEBRATE WOMEN’S HISTORY MONTH
Celebrating Women’s History month is an annual and very special event for The Women’s Entrepreneurial Opportunity Project, Inc. (WEOP). Since launching the organization in 1999, March is a month for us reflect upon our past as we look toward the future. Our past is what drives our passion to build a future filled with hope, promise and opportunities for the advancement of women.
As we move into the future, we look to our past for inspiration, guidance and wisdom – celebrating the legacy of the phenomenal women who continue to inspire us with their unstoppable spirits. To me, this means the women who have been activists, influenced legislation, promoted education, worked on youth issues, and created greater economic empowerment and literacy in our communities.
Most of us are familiar with names like Sojourner Truth, Ida B. Wells or Rosa Parks, but there are so many unsung heroes. From the 1800s to the present, women like Nannie Burroughs, Ella Baker and Josephine Ruffin pushed for Black women’s rights. Although you may not know their names, we stand on the shoulders of countless women who are unsung heroes.
Although we have made significant progress, women are still struggling economically, especially women of color. Women of color are starting businesses an astronomical rate. But they are doing so to ensure their own economic survival, amid high unemployment rates and the racial and gender pay gap, according to a recent American Express report. While some women of color find success, their businesses are plagued with high failure rates, lack of access to capital and lower revenue when compared to their counterparts.
In the nonprofit sector, the story is the same. A study from May 2020 found that organizations led by people of color receive less funding, with more strings attached, than those that are white-led. For organizations led by Black women, the gap is even larger.
On average, white-led groups have budgets 24 percent larger than groups led by people of color, and organizations led by people of color have unrestricted assets that are a staggering 76 percent smaller. These disparities will have a direct impact on nurturing a generation of nonprofit leaders willing to launch initiatives that support their communities.
The year 2020 was filled with challenges for the entire world, and the COVID-19 pandemic will have profound economic impacts for years. WEOP responds to the pandemic with initiatives that encourages women to be civic-minded, involved in their communities and take on leadership roles at every opportunity.
The reason for this is simple – our communities are being hit hardest by today’s challenges. Our survival is on the line. And as women of color, we understand the barriers firsthand and must prepare to meet the challenges. If we can’t save ourselves, we can’t expect others to come in and help us.
If you are an entrepreneur, please know this: Civic engagement will give you a voice in matters that have a direct impact on your business. So, if you aren’t already involved, it’s time to step up. Volunteer your time to causes that matter. Assume leadership positions that build up your community. Join organizations that allow you to be part of a collective voice.
Remember, there is always strength in numbers, and together we have the power to transform the world. You can take the first step by joining our Women’s History Month conversation on March 24, Reimagine 2021: Adapt and Transcend Your Business. Visit weop.org for additional information!
Photo credit: Smithsonian Natural Museum of African American History & Culture
