For the second year, Hello Alice set out to learn more about the LGBTQ+ small business owners on our platform. Building on findings from the early days of COVID-19, our latest data helps us understand how these owners are emerging from the pandemic and navigating longstanding structural barriers to growth.
The full report, titled “The State of the LGBTQ+ Economy,” is published in partnership with the Global Entrepreneurship Network, StartOut, and the National LGBT Chamber of Commerce (NGLCC) to coincide with LGBTQ+ Pride Month.
Hello Alice releases regular impact reports based on anonymous owner data and survey responses from our growing body of grant applications. For the first time, we also conducted an impact survey that directly polled our LGBTQ+ community members. Together, this report sheds light on who the more than 14,500 LGBTQ+ owners on Hello Alice are and what challenges they face going forward.
Key data points include:
- The majority of LGBTQ+ owners on Hello Alice are women (62%) and people of color (77%).
- The top three industries for LGBTQ+ entrepreneurs on Hello Alice are Arts/Entertainment/Recreation (13%), Consumer Goods/Retail/E-Commerce (13%), and Healthcare/Wellness (12%).
- 72% of these owners report either customer referrals or social media as their top acquisition channels.
- 61% of LGBTQ-owned small businesses generate annual revenue of less than $100,000.
On the cover of this month’s report is Donnya “Zi” Piggott, the co-founder and CEO of Pink Coconuts. Designed to create meaningful relationships for LGBTQ+ people through travel, Pink Coconuts has a mission to help people forge real bonds and real friendships. The tech startup was a product of the pandemic’s isolation and has faced growing pains as a remote business forged in an era of social distancing.
“Building a team remotely can be challenging, just like the issue my business solves,” Piggott told Hello Alice. “There is something about physical connection that can’t quite be replaced. Building a strong, cohesive team and running the day-to-day operations can be tough.”
You can hear from more owners like Piggott and review the full report at the link below. To help us continue the conversation, we also invite you to join us for a Virtual LGBTQ+ Town Hall on Wednesday, June 23, at 2 p.m. ET. The free event will be an open forum for LGBTQ+ owners and allies to share resources and experiences. Registration for the Town Hall is now open.
If your company or organization is interested in supporting this important work or gaining insights about your community of business owners, please reach out to [email protected]
For media inquiries or interview requests, please contact [email protected]