THE IMPACTS OF THE COVID-19 CRISIS ON WOMAN-OWNED BUSINESSES, PART 2

SMALL BUSINESSES AND COVID-19

In a nationwide survey of 500 small businesses, 9 in 10 small business owners report that they have been negatively affected by COVID-19. 40% have permanently laid off their employees, 56% have furloughed their employees, and 72% have had to reduce their employee’s hours and/or salary. Shockingly, they have all fared better compared to the ones who have had to close their doors for good.

WOMEN-OWNED SMALL BUSINESSES

Women-owned small businesses, in particular, are one of the groups hit hardest by the effects of COVID-19. Throughout history, women have had to fight against gender inequality, stigmas, and archaic norms to gain respect in an area that was largely dominated by males. Although society has made substantial progress in accepting and empowering women to hold positions of influence today, there is still much work to be done in continuously supporting and sustaining women in business.

COVID-19 IMPACT ON WOMEN-OWNED BUSINESSES

HELPFUL RESOURCES

Within the business model, a flexible mentality that’s open to change is key to sustaining a business. However, COVID-19 has introduced new challenges that adaptability can only partially solve. Recognition that you are in a position that needs help is important, but tangible support is vital.

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Anna Colibri

Anna Colibri

I work to make the web a more beautiful, accessible, and functional place. I use dreams as a form of planning. And I play because it’s fun.