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Women Entrepreneurs Counting the Cost of Covid

Monday, August 02, 2021 10:00 AM | Anonymous

Self-employed women lost almost double the income of their male counterparts during the pandemic. But, despite this, they remain optimistic about the future of their business, new research suggests.

Analysis of more than 2,000 sole-traders, freelancers and micro-business owners showed that women lost 20 per cent of their income. In comparison, men lost 11 per cent.

The news comes after academics said that the female self-employed have been overlooked by government support schemes, with female take-up of the SEISS grant lower than male take-up.

Those who said the pandemic has effected their income lost an estimated 15 per cent. Demand for products and services was the main reason, according to research released by the business insurer, Superscript.

Women have also endured a greater mental toll than men. Over half of women surveyed say that their mental wellbeing has suffered due to the pandemic.

Despite a difficult period, the self-employed are becoming more optimistic as covid restrictions lift. Female and male respondents showed similar optimism, with females being slightly more hopeful.

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