The COVID-19 pandemic has impacted all business owners. The Diana International Research Institute (DIRI) team wanted to uncover just how it impacted a specific category of business owners: women.
How are the entrepreneurs responding to the revenue decline? Nearly 40 percent of business owners are deferring or reducing executive pay, more than one-third are delaying payment, and one-quarter are reducing employee hours.
The survey found that women-owned businesses face key structural inequalities due to smaller size and business age, and these businesses also are over-represented in the industries hardest hit by both need for essential services and the economic shutdown.