Among women-owned businesses nationally, one of the fastest-growing sectors are businesses owned by women of color. Over the past nine years, the number of businesses owned by women of color increased by 126 percent. In addition, the nearly 5 million businesses owned by women of color make up almost half of all women-owned businesses. When comparing the growth in the number of businesses owned by women of color with women-owned businesses overall, nearly eight in 10 of the net new women-owned businesses were started by a woman of color since 2007, the report found.