Of all the businesses in the private sector, 39% are owned by women. Of those, 47% are owned by women of color. Women-owned businesses produce nearly two trillion dollars in revenue annually, but only 25% of women seek financing to open, relying instead on bank loans and credit cards. This may largely be due to the fact that only 2% of venture capital is given to women, and they typically start their businesses with 50% less total upfront capital than that of their male counterparts. And when that data is narrowed to Minnesota, the numbers are even more grim. 85% of all venture capital is given to businesses opening in California, New York, and Massachusetts.