Female Biz Owners See COVID-19 As A Turning Point For Betterment

Two in three female American business owners (63%) say the pandemic has hurt their business, with 41% cutting their regular business hours and 25% admitting they have had to make changes to their business model in order to survive.

Nonetheless, 91% see this crisis as an opportunity to make changes to their companies. Seven in 10 (70%) believe in showing support to all races and providing equal opportunities. Half strive for a business that serves employees, their communities and the planet. Four in 10 (41%) want to help marginalized communities and give back to their neighborhoods.

Seventy-two percent of women who are thinking about starting a business are now even more inspired to do so as a result of the pandemic. Yet, despite this driving ambition, they lack resources. Nearly six in 10 (58%) want more business advice, 52% want more financial advice and 47% simply need more funds.