The Present and Future Is for Woman-Owned Businesses [Contributed Blog]

November 6, 2020
Entrepreneurship, Small Business

Unfortunately, most jobs lost due to COVID-19 have been in female-dominated industries including hospitality, healthcare, and education. According to the Bureau of Labor Statistics, 55 percent of lost jobs this year were held by women. We are also currently experiencing an unemployment rate of 15 percent in comparison to 13 percent in men.

Although this information can be discouraging, a push for virtual work has also brought on a few positive changes to the workforce that many believe are here to stay. As more and more people work remotely and independently, a study found a 27 percent increase in the share of people who felt motivated to start a business.

This year has also accelerated an awareness and push to action on diversity and inclusivity issues. This has led companies—both big and small—to adopt initiatives that boost the hiring and promotion of female team members as well as collaborations with external female leaders. Some firms have also implemented better maternity and paternity leave policies and established internal diversity panels.

With that said, there is no better time for women to focus on starting their own business or furthering their careers. Although there’s still much work to be done, resources and opportunities have become more abundant than ever before. Whether it’s taking on an executive role or leaving the corporate ladder to sell your products and services, now is the time to take charge and create the lifestyle that works best for you.

From funding to networking groups and coaching, aspiring women business owners, entrepreneurs, and leaders should move forward with their goals knowing that support is out there and available. Continue reading this list of resources for women-owned businesses and additional encouraging data on the future of female entrepreneurship.