A new report shows that the number of businesses owned by African-American women has grown more than 300 percent since 1997, making it the fastest-growing entrepreneurial group in the country.

According to the 2015 State of Women-Owned Businesses Report, commissioned by American Express OPEN, the number of companies owned by African-American females shot up by 322 percent, far outpacing the growth rate of women owned-businesses.

The Christian Science Monitor reports that women now own 30 percent of all businesses in the U.S., or about 9.4 million companies, having grown by 74 percent since 1997. Together these firms generate about $1.5 trillion in revenue and employ nearly 8 million people, the report found.

African-American women own about 14 percent of those firms, accounting for 1.3 million businesses, or half of all businesses owned by African-Americans in the country. Latina women follow close behind them, making up 12 percent of all women-owned firms, or about 1 million businesses.

Some see these figures as indicative of the next step in the struggle for equal rights.

“Hispanic and African-American women will play vital roles in the final frontier of the women’s empowerment movement: entrepreneurialism and economic freedom,” Natalie Madeira Cofield, CEO of the Greater Austin Black Chamber of Commerce,wrote for Forbes in 2013.