Study takes closer look at impact COVID had on women-owned businesses
SAN DIEGO – A recent study conducted by federal, state and local business organizations took a closer look at how COVID-19 and the pandemic impacted women-owned businesses.
“But I remember when I saw the situation, and I said, ‘We don’t know how long it would take, the pandemic, my thinking was closing my business,” Jimenez said. “We also found women of color in particular, again no surprise, tend to be more challenged by financial difficulties as well as cultural difficulties in accessing capital,” Kim, the Exec. Dir. & Founder of Kim Center for Social Balance said.
It found that women of color were two to three times more likely to be denied relief assistance compared to men and white women.“Many women had to close down or shut down their businesses or put them on pause for caregiving purposes,” Fitzgerald, Regional Dir. of San Diego & Imperial Small Business Development Center Network, said. “They weren’t involved in some of the communications. They weren’t involved in the day-to-day of their business.
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