Essential Business

Special Report on Women-Owned Small Businesses During COVID-19

Women-owned small businesses have been more heavily impacted by the coronavirus pandemic than male-owned small businesses, and they are less likely to anticipate a strong recovery in the year ahead, new data show. The Special Report on Women-Owned Small Businesses During COVID-19 1 from the U.S. Chamber of Commerce also found that women-owned small businesses have less optimistic revenue, investment and hiring plans compared to male-owned small businesses.

Before the coronavirus pandemic began 67% of male-owned businesses ranked the overall health of their business as “good,” while fewer (60%) women-owned businesses said the same. But by July 2020, 62% of male-owned small businesses said their businesses was “good,” but just 47% (15 points less compared to male-owned) of female-owned businesses ranked the overall health of their business as “good.” This also represents a decline of 13 points for women-owned small businesses versus a small shift of only five points for male-owned businesses who see their businesses health as “good.”

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