Opinion
Women of Color Need Stronger Business Networks, ASAP
Small businesses need an influx of capital to thrive
When met with hardship, the human psyche responds by reacting, adapting, and recovering. This is especially true for Black and Latinx women entrepreneurs and small-business owners, who are no strangers to experiencing surprises, change, and hard times. Once faced with the global Covid-19 pandemic, we saw these businesses tested, and they adapted and pivoted to survive. Our businesses are continuously tested, and that’s what makes us resilient leaders — skilled at being resourceful, versatile, and creative to the core. It’s this ability to be resourceful even in a crisis that defines our resilience, but that resilient spirit often makes business leaders feel that they have to find a way on their own. No business grows in isolation.
During the pandemic, with millions of Americans sheltering in place and businesses shut down or pivoting online, we witnessed the pipeline of business for women of color all but disappear. Some businesses thrived with the workforce working at home, but not all. At digitalundivided, our research proved that over 80% of businesses run by Black women have lost revenue during Covid-19. This stress was only amplified by the growing racial and social unrest across the country, an…
