Economists have long been sounding the alarm that Black, Latinx, and female workers and small business owners are being hit the hardest with the economic fallout from the pandemic. But what’s less talked about is the record number of businesses that started in 2020—and what’s been unknown is, why.
Gusto recently partnered with the National Association of Women Business Owners (NAWBO) to conduct a joint survey of 1,199 women business owners across industries to better understand their experiences navigating the pandemic and the resulting economic downturn. These female business owners were asked a range of questions, from how long they’ve been in business to if they’ve been impacted by disruptions to childcare to how the past year has influenced their views of entrepreneurship. We also evaluated what support is necessary to help keep their businesses afloat in the year ahead.
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