By: Jill Mendoza: Did you know there were nearly 13 million Women-owned business’s at the beginning of 2020, who employed 9.4 million people? Additionally, these WBE businesses generated about 1.9 trillion in revenue. It was a well-known fact before the pandemic, as our economy changed, entrepreneurial women were emerging as leaders of industry, bringing significant, fresh ideas to the marketplace.
What may not be so well-known now, is the huge toll this past year has had on women’s economic progress and small businesses overall, widening existing economic disparities. Here are a few of the current challenge’s women face:
- COVID-19 has driven millions of women out of the workforce.
- Working mothers have taken on more of the added childcare responsibilities.
- The United Nations issued a report on how women and girls’ lives are changing across the globe due to COVID. Bottom line? The impacts of the pandemic are exacerbated for women and girls across every sphere from health to the economy, security to social protection.
- Women-owned businesses are hurting – a recent U.S. Chamber of Commerce survey found that the number of female business owners who ranked their business’s overall health as “somewhat or very good” fell 13 points during the pandemic.
- Women are more likely than men to own businesses in industries that have been hard-hit by the pandemic.
IDO is proud to be a Woman Owned Business and of our WBENC status. This month we encourage all, both within our network and outside our network, to join us in supporting Women across the globe. You can lean more and join the celebration of Women’s History Month by visiting the WBENC website here: WBENC is honoring Women’s History Month
And THANK YOU! #IWD2021