Is there one person who has not been hit hard with the COVID19 pandemic? The losses are multiple such as financial, physical, mortality, trauma, and whatnot. Every human is impacted by the pandemic, While some have been affected less, some have been struck hard.
There is one section of society that has been affected disproportionately- Women and Women Entrepreneurs. How? Let’s find out.
The most hard-hit industries of business are food, luxury, travel, events, and tourism. These were the industries where you could have found women entrepreneurs dominating the sector. On the other hand, the tech sector, which males have predominantly owned, has seen a negligible impact of the pandemic. We are not reporting a gender bias but simply stating the hardships faced more by one section of the business world
Adding to the pressure with downtime in business are the duties that prerequisite lie within the hands of the women. Studies show that women are the first caretakers at home. With ever-changing classrooms and virtual school formats, female entrepreneurs face a hard time managing home and business together. It is taking a toll on their mental health as well. Adding to make matters worse is that since the pandemic has begun, only 3% of business investment has gone into businesses run by women.
Here in this article, we will discuss ways to help female entrepreneurs sail out of these crises as smoothly as any other entrepreneur or sector. Our suggestions, in this article, refer to some specific government programs and direct support that you can advocate for.
1. Give out your support to women-owned service companies
One of the biggest reasons women entrepreneurs got adversely affected is that they were majorly associated with the most hard-hit industries from the pandemic. For example- travel, events, restaurants, and so on.
We know you’re still not going out, but you can buy gift cards or buy online to support them. Every little contribution that you make to a small business counts.
2. You can donate and advocate causes supporting women entrepreneurs
Unfortunately, in the tech industry, there is a considerable gender gap prevailing already. So when you donate to causes educating girls about STEM or when female-owned startups learn about technology, a significant gender bias gets eradicated. Consider collaborating with organizations like Black Girls Code and Girls Who Code to host enlightenment and educational programs in your community. Another organization, Women Who Tech, can help you connect with other females in the tech industry to collaborate and build a network with and invest in.
BrainStation conducted a study in 2020 and found out that 89 percent of professionals agree that improving data skills can improve the success rate at the organization. Therefore, aligning a data-driven approach can lay a better career in the future for both men and women.
3. Include Women in Decision Making
Although, this is not directly related to supporting women entrepreneurs in the current pandemic. But it helps in fostering equality for the future. The current pandemic has already taught us many lessons, and seeing some entrepreneurs getting sad is one of them. Now is the time to foster growth and heal together.
4. Support More Female Grants to Facilitate Startups
Support grants and funds that are facilitating women entrepreneurs/startup businesses. Consider donating to private NGOs/Grants supporting women entrepreneurs or educating and motivating women to take this crucial step in life. Support your local government aids directly or enable them with fulfilling requirements to support the noble cause.
5. Enhance and upgrade contribution in the investor community
Currently, only 3 percent of the venture capital workforce is female. This is one of the major concerns when VC funds are the key driving force behind a startup’s success ratio.
If you’re directly associated with VC, then you can think of multiple ways to increase gender equality in your workplace. But if you’re not directly associated with them, you can assist them in financial funding as per your capacity. Investment can create profits for both you as an investor and the company to grow.
Always witnessed, any calamity hurts marginalized people more than the ones in power, and this pandemic did nothing new. While the ones in power could find out multiple ways to sail through, most of the population suffered invariably. Lockdown and diseases had multiple effects on citizens across. The world has seen more pain and loss in the last two years than it ever did. It had ripple effects of negativity, trauma, and pain. It affected more women than men.
We at Invoicera pledge to do our best to support small businesses and encourage women entrepreneurs in every aspect. We believe in gender equality and how the world needs all of us right now for every gender.
Thus, we are offering FLAT 30% off on our basic plans. It is a small initiative to help our beloved small business entrepreneurs grow. If you are the one, then signup or recommend it to the one you know. They might get a little happier today.