Throughout the country, businesses suffered supply chain interruptions, demand for their products and services declined, and shortages occurred as a result of the coronavirus pandemic in 2020. Meanwhile, the federal government launched programs designed to keep workers on payrolls. This Spotlight-on-Statistics looks at the pandemic’s impact on businesses and workers in the private sector. That said, we can undoubtedly state the challenges a leader has to face during such times, especially women. Women have been disproportionately affected by the pandemic. However, you may not have realised the magnitude of this dilemma. It’s enormously significant—a colossal toll. Women’s domestic experiences, health, employment, and economic well-being have all suffered. And the pandemic has not only hampered women in the present, but it has also harmed their prospects in the future. Due to historical challenges women have faced concerning access to finance and gender roles, women entrepreneurs have continued to struggle during the pandemic in spite of the coronavirus limitations.
A pandemic-related economic hardship has forced people to adjust their priorities because of the shock caused by the Coronavirus pandemic. In those sectors that have been affected by the pandemic, women-led enterprises have been more likely to thrive. Retail and wholesale trade, areas in which women-led firms thrive, have been adversely affected by dwindling demand for services. Because of measures taken to prevent the spread of infections, including lockdowns, businesses have less opportunity to make sales when shoppers go in person.
The coronavirus has made life even more challenging for women whose work-life balance is challenging. Globally, women, both at home and on the job, are bearing the brunt of the pandemic, according to a recent study. People worldwide were forced to change how they worked, lived, and learned because of this Covid. While taking care of routine household duties, women are often expected to facilitate children’s online learning. Due to the pandemic, women are also feeling pressured to work more, which leads to burnout and exhaustion. Women should continue to bestow their creative ability and provide clients with value. They provide long-term growth for your business depends on finding opportunities for sustainability. They recognize that the pandemic has posed challenges for all businesses and consider new revenue streams while remaining engaged with their current customers.
Many international thinkers and groups are promoting the advancement of women entrepreneurs worldwide. Female entrepreneurs have access to a variety of programs, small business grants, and numerous resources through these organizations. Many organizations advocate for gender equality and empowerment of women. They include United Nations Women, the Institute for Women’s Policy Research, the International Women’s Think Tank, the International Center for Research on Women, the Guttmacher Institute, and more.
Being a woman, if you are looking for a change to propagate in business, you must first change your perspective and acknowledge that no one is perfect when it comes to work-life balance. One must establish clear boundaries and learn to divide the workload. Moreover, make time for flexibility and self-care; it is been believed that personal connections are even more important than communication skills. Maybe a colleague or a friend that can help you with your new venture; maybe you know someone who can put you in touch with investors. You never know who can help you in business, which is why networking is so important. Make connections and put them to good use.
