Why Now is the Perfect Time to Launch a Brand or Scale your Product-Based Business
Let’s get real. The world is shifting—and if you’re a woman of color with a big idea and bold vision, there has never been a better time to step into entrepreneurship and bring your product to market. From changes in the global economy to massive growth in women-owned brands, the climate is finally catching up with the brilliance and power of founders like you.
So if you’ve been sitting on a product idea—a beauty line, wellness brand, kitchen staple, tech accessory, whatever lights you up—this is your sign. Let’s break down why the moment is now.
1. The Numbers Don’t Lie: WOC are Building Fast and Bold
According to Wells Fargo’s 2024 report, women-owned business growth is outpacing businesses owned by men in every category: number of firms, employment, and revenue. And guess who’s driving that growth? Black and Latina women.
Between 2019 and 2023:
Black women saw a 32.7% increase in average revenues
Latina women saw a 17.1% increase
Translation! Not only are we building but WOC are scaling. The receipts are there.
And get this - 2023 marked a record-breaking year with over 5.4 million new businesses launched, according to the U.S. Census Bureau. Women-led ventures grew at nearly double the rate of those started by men. So, it’s not a trend, it’s a movement.
2. A Shift in Global Trade is Opening Up New Doors
Changes to tariffs, like the recent updates to the USMCA, are creating new lanes for regional trade and production, especially between the U.S., Mexico, and Canada. That means sourcing, manufacturing, and importing goods is becoming more cost-effective, so your startup capital can go further.
At the same time, tariffs on certain imports are shifting the balance toward domestic production. More local manufacturers, means more accessible partners, shorter lead times and hopefully lower landed cost for emerging founders. Bringing us to our next point…
3. Supply Chain is Smarter and More Accessible
We all saw how messy global supply chains got during the pandemic. But the rebuild? It’s smarter, more tech-enabled, and better designed for small businesses.
Things like cost-to-serve analysis and predictive planning are helping brands avoid waste and overstock. Plus, there’s a bigger push toward sustainability and ethical sourcing—values that matter to us and our communities. If you build your product now, you can bake these priorities in from day one.
4. Resources for WOC Founders Have Leveled Up, despite DEI Rolling Back
We’re not building alone anymore. There are more grants, incubators, accelerators, pitch competitions, and education platforms (hey, WOC Worldwide!) designed specifically to support women of color in business.
Need a community? We’ve got you. Need mentorship? It’s out here. Need a roadmap? Start with Shopify’s product development guide and tap into a wealth of tools built to help you take action. There’s also always WBENC, Black Girl Ventures, The Fifteen Percent Pledge and Black Women Talk Tech to help you on your journey.
5. The Culture is Ready
Consumers are looking for diverse brands to support. They want to spend intentionally. They care about the stories behind the product. Your heritage, your perspective, your lived experience—they all matter. And they sell.
There is nothing niche about excellence.
Reality Check ✅ It’s Challenging—But It’s Worth It
According to the Bureau of Labor Statistics, about 1 in 5 businesses fail in their first year. After five years, nearly half don’t make it. And yes, retail is among the industries with high failure rates.
But here’s what doesn’t get talked about enough: retail and wholesale are also major players in the U.S. economy—ranking 6th and 7th in GDP contribution. So when you build a retail product, you’re not just growing a business—you’re contributing to the engine that moves this country. Plus, products have upside over services. Products benefit from tangibility, scalability, marketability, a shorter sales cycle and the option for recurring revenue. Historiccaly, women and minorities have opted for service based businesses because of the low barrier to entry and lower startup cost, but technology and the economy are changing that.
The Bottom Line? You Are the Moment.
With the economy shifting, the numbers rising, and the support systems in place, there’s no reason to keep your brilliance in your head or your notes app. The time to build is now.
When you win, we all win, and you don’t have to do it alone.
Let’s make it happen—together.
#womenofcolorinbusiness #productfounders #wocworldwide #buildbold