Women are key to the economy – now, and post-pandemic.
As we wrap up 2020, our thoughts turn to the year-end holidays. Christmas, Hanukkah, Kwanzaa, and the Winter Solstice approach – with hopes for good cheer and a fresh start in 2021.
And as we celebrate with old traditions, go-to goodies, and new favorites, it’s worth considering how to support those who almost single-handedly brought us through this particularly difficult year: the women!
This year especially, women have seen us through.
Wherever we look, it’s easy to see that women have done the heavy lifting during 2020. We’ve parented, taught school, and tried to keep our own careers afloat during this singularly difficult year. Women everywhere have been pushed off the career track and into the roles of online educators and stay-at-home managers. We’ve monitored schoolwork, navigated COVID safety for our families, and tried to keep our jobs intact. Still, a recent report reveals that working mothers are three times more likely to lose their jobs than men. With another report showing that 60% of COVID job losses affect women, many of us have suffered a career blow that won’t recover once the vaccine starts shipping.
The good news? Home-based businesses are on the rise.
More and more women are turning these lemons into lemonade, with home-based businesses on the rise. Women are more likely to start home-based businesses than men, making it a unique opportunity for women to express creativity through an entrepreneurial spirit. If we are already home, managing COVID and keeping our kids educated, adding a home-based business to the mix is a logical fit for many women. In fact, half of U.S. small businesses, and 69% of startups, are home-based – and women everywhere are forming or expanding home-based businesses. Operating a home-based business is an excellent way to take matters into our own hands and fulfill dreams of independence, while managing other aspects of our busy lives.
Home-based businesses are key to economic recovery.
Many believe the home-based niche of the economy is destined to grow even more, with women realizing they can express creativity while gaining a steady income. Experts say that increasing gender equity in the workforce would translate into $2 trillion in economic gains for the U.S. alone. For every 10% increase in gender equity, there is a 1% to 2% increase in revenue – and women stand to gain the most from these increases. With approximately 15 million home-based businesses in the U.S., it’s a significant segment of the overall economy, and most of these businesses are run by women.
Make your holidays bright with a women-owned, home-based business this year.
So, let’s support our own women-owned, home-based enterprises, by giving them our holiday business this year. With shipping costs and delays, it can be a welcome relief to buy something locally – and supporting our own women-based businesses also directly contributes to our own local communities!
We’re in this together.
West Tenth was created to support the unique entrepreneurial spirit of women, with an app that brings the creativity and ingenuity of women-owned businesses to your fingertips. It’s easy to support local, home-based businesses with West Tenth, so make a holiday purchase today! It’s a step in the right direction for our economy, our communities, and all the women who’ve done so much to get us through the year.