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Missouri Sees Rise in Businesses Owned by Black Women
March 23, 2021

Missouri Sees Rise in Businesses Owned by Black Women

by The CE Shop Team

Missouri Women Are Moving Forward

Starting a business can be a daunting undertaking. Even a local restaurant can take thousands, if not hundreds of thousands of dollars, to get off the ground. Other businesses, meanwhile, require a certain skill set, experience, pricey tools, heavy-duty equipment, or investor buy-in — which historically has been a challenge for many minority groups. Still, that’s not deterring Black female entrepreneurs in Missouri from exercising their ambitions.

According to a report published by The Federal Reserve Bank of Kansas City, the number of businesses owned by Black women has grown by 112% from 2002-2012, faster than any other state. Nationwide, the number of Black-owned businesses has also grown with Black women leading the charge.

“When comparing women-owned businesses of all racial categories, Black (non-Hispanic) women have the highest percentage of ownership compared with men in their racial category,” one USAFacts.org article reads.

Real Estate Careers Offer Opportunity With a Low Barrier to Entry

There’s one sector where a reasonable financial investment plus entrepreneurial spirit can pay off, regardless of your background. Of course, we’re talking about real estate. In the state of Missouri, the steps to getting a real estate license are both straightforward and within reach. And that’s exactly how one woman in Missouri got her start.

Not long ago, Missouri real estate professional, Tenesia Looney, celebrated 15 years owning a real estate brokerage in Kansas City’s urban core. Today, she focuses on helping minorities become homeowners — which is an important way to help minority groups begin accumulating multi-generational wealth they’ve been previously denied.

“We as women are used to overcoming obstacles… Now whether we use it or not that’s one thing. Right now is the time to do it and don’t worry about the hurdles. There’s always going to be something,” Looney said in an interview with Fox4 KC.

Women and Real Estate

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In the United States, ~67% of all residential real estate agents are women. However, it wasn’t always that way. According to our video, “The History of Women in Real Estate”, women have played an essential role in the industry as early as 1794, but it wasn’t until the early 1950s that women broke through the field.

Even in today’s larger, more-inclusive industry, there’s a lot of work left to be done. In commercial real estate, women only make up 37% of the industry — a figure that’s remained stagnant for the past 15+ years.

Additionally, the CREW 2020 Benchmark Study Report notes that women in commercial real estate earn approximately 10% less than their male counterparts, and the commission and bonus gap remains at a staggering 56%. Still, progress is being made. Greater numbers of younger women are entering the industry than ever before and they, like Looney, have their sights set high.

Ready to Jump-Start Your Career With the Best Missouri Real Estate Courses From The CE Shop?

Enroll in our Pre-Licensing program now to get your career started and begin connecting your fellow Missourians with the home of their dreams. Or keep going strong with one of our comprehensive, 100% online Continuing Education packages. Want to stay up to date on everything Missouri? Join the Midwest Real Estate Facebook Group!

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