African American business ownership is on the rise, in spite of the challenges many Black entrepreneurs face.

According to one report published by Black Enterprise, 70% of Black business owners are funding their ventures using their own cash. It’s reported that only 0.2% of venture capital goes to fund startups founded by Black women — yet Black women make up 38% of Black small business owners. In addition, more than half of these business owners report being profitable despite money being their biggest challenge, and a whopping 32% of those surveyed only hold a high school diploma or GED to their name.

It’s never been clearer: African American business owners are sending a powerful message of economic empowerment through business ownership, and are an inspiration to aspiring Black entrepreneurs who are poised to follow in their footsteps.

Take a look at some of the most inspiring Black entrepreneurs that are changing lives, and showing a path to economic prosperity through business ownership:

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Freddie Figgers (Figgers Communications)

Inventor and computer programmer Freddie Figgers has recently been dubbed one of America’s youngest telecommunications leaders. At just nine years old, Freddie started tinkering with old computers, and by the age of 16, he had launched his own computer repair business. With four patents to his name, Freddie is using his technical talent to help physicians with remote patient monitoring. His company, Figgers Communications, offers affordable mobile and broadband services to put communication within everyone’s reach.

Vivian Kaye (KinkyCurlyYaki)

Making her way to a seven-figure salary, Vivian Kaye developed the textured hair extensions company KinkyCurlyYaki and grew annual revenue to over $1 million. She believes that everyone should feel confident with their natural hair, but most wigs and weaves didn’t add that natural element and looked too manufactured — so she did something about it. Having invested her time and effort in her business (and learning a few things about entrepreneurship along the way), she also offers coaching and growth strategies for other product-focused entrepreneurs.

Mikaila Ulmer (Me & the Bees Lemonade)

Like many of us entrepreneurs, Mikaila Ulmer began her journey selling lemonade. But unlike most of us who start to pursue and develop other business ideas, Mikaila found her sweet spot with this fan-favorite refreshment. Mikaila was bitten (or rather, she was stung!) by the entrepreneur bug at the ripe age of four, at which point she became fascinated with bees. She used her granny’s flaxseed lemonade recipe and sweetened it with local honey. Now, ten years older, Mikaila’s become one of the most vocal advocates for saving honeybees (Her tagline: Buy a Bottle, Save a Bee), and is the Founder & CEO of Me & the Bees Lemonade. Her famous flaxseed honey lemonade can be purchased at stores such as Whole Foods Market, H.E.B., and Cost Plus World Market, to name a few.

Shontay Lundy (Black Girl Sunscreen)

Outdoor enthusiast and African-American entrepreneur Shontay Lundy is the mastermind behind Black Girl Sunscreen. The African American segment of the sunscreen market has largely been overlooked by other producers, but Shontay eagerly rose to the challenge. Being an avid hiker herself, she knew that having dark skin wasn’t automatic protection against the sun. With her product, she’s helping melanated women enjoy summer days with confidence — and without the streaky white residue that comes from other sunscreen products.

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