A recent pronouncement from a Kansas member of congress argues that the burden of the plague was felt more by women . . . Here's a glimpse at her argument . . .
“Women are at the center of the American economy. They make up nearly half the workforce and own an estimated 42 percent of all U.S. businesses. Before the pandemic, these women-owned businesses employed 9.4 million workers and generated $1.9 trillion in revenue. Businesses owned by women of color were experiencing exponential growth. Pre-COVID, firms owned by women of color grew at 43 percent, one of the fastest rates among all groups.
“But the virus has caused a monumental setback to women’s careers, earnings, and the progress that has been made over the past half century. The pandemic has been incredibly hard for small firms, closing more businesses in 2020 than any other year on record. As of May 2021, more than 37 percent of small businesses have closed their doors. Unfortunately, women-owned businesses have borne the brunt of this economic devastation."
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A strong recovery from the COVID-19 crisis - which destroyed the businesses of many women, and particularly women of color - requires a deliberate investment in initiatives that drive and support female entrepreneurship, said Sharice Davids, pointing specifically to an agency in Kansas City.