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National Women’s Small Business Month

National Women’s Small Business Month

October 27, 2020

National Women’s Small Business Month looks a little different this year. More than 54 percent of women owned business were scared they would have to permanently close their doors due to the pandemic. According to a study done by Groupon, 1 out of 4 women small business owners believe it could take more than a year to recover from the negative impact COVID-19 has done. A fifth said they either plan to or already needed to lay off employees — and less than 10 percent said they plan to hire more people in the next year.


But Women are no strangers to hardship. In 1972, women only owned 4.6 percent of all businesses in the United States. Women were discouraged from starting their own business and it was hard for them to obtain financing. In today’s society, women now own 42 percent of businesses in the United States, which generates $1.8 trillion a year! Not to mention that women of color account for 50 percent of women business owners.


While many small businesses are still in crisis mode due to COVID-19, women are taking advantage of this time to dive deeper into their business plan, education, and resources. Now is not the time to fall back, even if the world seems to be at a stand-still.


Here is a list of resources for women business owners to explore as they continue navigating the business world:


  • WBE (Women’s Business Enterprise) Certification
  • Small Business Development Centers (SBDCs)
  • Office of Women’s Business Ownership
  • Office of Entrepreneurship Education


Even in these uncertain times, women are taking control and coming out stronger. We all play a role when it comes to investing in the success of small businesses. Take some time this month to celebrate the amazing progress women small business owners have made over the years and the legacies that all women are leaving for the future generation to come.