The Covid-19 was perhaps a widespread impact across the country, but its effects are not the same for everyone. We see that they are particularly felt in women.
So much so that Deputy Prime Minister Chrystia Freeland described the current economic situation as a female recession ( she-cession ). Women have a harder time returning to work due to child care issues and they often work in the service sector, where interactions usually have to take place in person.
The COVID-19 pandemic has only highlighted problems that already existed.
Before COVID-19 , the structural inequalities that women faced were well documented, from the wage gap to the lack of capital and resources to start and grow businesses.
On the road to recovery
Women entrepreneurs especially feel the pressures caused by COVID-19 because they usually run smaller businesses or are self-employed. In addition, they have less capital and are largely concentrated in the service sector, which has been hit hardest by the pandemic.
They also largely provide childcare due to school closings and help their aging parents in the context of social distancing. It is therefore practically impossible not only to keep a business afloat, but also to think of ways to adapt it to survive the cessation of economic activity.
The federal government injected more than $ 52 billion in emergency support measures, which included programs for businesses. However, in many cases, because of the size and structure of their businesses, women entrepreneurs were not eligible for these measures. Statistics Canada confirms that businesses with fewer than 20 employees and those in the service sector were the most affected by COVID-19 .
Running a business is not an easy task when things are going well. It is even less so now, given the obstacles that we face on a daily basis! After speaking to hundreds of women entrepreneurs across the country in the past few months, here are some tips and resources that I hope will be helpful as women embark on the road to recovery:
Network
One thing that all of the women entrepreneurs I spoke to agree on is the importance of having a network. Don't be afraid to ask for help! Seek advice and support from friends, family and social media contacts. The worst that can happen is that you are told "no", but the potential benefits are invaluable. Many of us are a bit tired of webinars. Therefore, connectin smaller groups or individually with other entrepreneurs. It is always helpful to get someone else's opinions and ideas.
Resilience
Women are much more resilient than we think. Every day, I am amazed by all the stories I hear about how women entrepreneurs are changing their activities to adapt to COVID-19 . Sheena Brady, founder of Tease Tea, focuses on continuous global business growth and a new marketing channel. Tessa McLoughlin of KWENCH had to rethink her business during the pandemic. It launched “The Craic”, a learning and engagement platform for its members, so that they can stay connected because they cannot use their space. Evelyne Nyairo, meanwhile, launched not one, but three new products - two hand sanitizers and one serum - during the COVID-19pandemic, under her beauty brand, Ellie Bianca.
Resources
If there's one thing we don't have, it's time. Here is a list of some of the most useful resources I have seen to help you get started.
- BDC offers a library of free tools that you can access to improve your skills in everything from the basics of financial management to operations, marketing and sales. You will also find a section dedicated to women on our website.
- The Knowledge Portal for Women in Entrepreneurship (PCFE) provides an interesting list of resources. He partnered with FWE to launch an online sharing platform for women entrepreneurs in Canada (and those working to support them), where knowledge, services and advices.
- With a digital presence more important than ever, the Digital Main Street program offers you a free digital guide on how to grow your business online.
- Export Development Canada (EDC) has fantastic resources to help you put together an export strategy - or, at least, determine if it is right for you.
- Obtain certification as a diversity supplier from one of the many certification boards in Canada, and sign up for BDC's Supplier Diversity Program to help your business stand out.
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