Women business owners are powering their voice when it comes to how the pandemic has impacted their businesses and futures—with help from Gusto and NAWBO. The two organizations recently partnered to survey 1,199 female business owners across industries about their experiences during the COVID pandemic and resulting recession.
The first report in a series to result from this survey, entitled “How the Pandemic’s Childcare Crisis Impacted Women-owned Businesses and Altered their Future,” examines the effect school and childcare disruptions have had on women business owners and their businesses, with a particular focus on those with school-aged children. The report also delves into how these disruptions have altered women business owners’ plans for the future and what they need to survive and thrive beyond the pandemic.
Here are some highlights:
- 61% of women owners with children at home report that school closures have impacted their business, and 30% of such owners reported scaling back due to childcare needs.
- 20% of businesses reported women leaving jobs due to childcare needs and 40% of businesses reported that female workers were forced to reduce their hours to care for children.
- Among women with school-aged children in this survey, 59% reported receiving PPP loans. This rate is significantly below the 72% of all businesses that received a loan.
- Of the women surveyed that are employer business owners, 6% offered childcare benefits to their employees pre-pandemic. By year-end 14% of the businesses said they will offer childcare benefits.
Read the complete first report here, and look for others in the series to be released soon!