It’s no secret the COVID-19 pandemic took a major toll on U.S. businesses, especially those led by women. According to MarketWatch, despite the fact that women are 1.17 times more likely than men to found a business that doubles as a social venture, women-led businesses are already underfunded compared to those led by men because fewer investors are willing to invest.
However, women entrepreneurs aren’t letting the pandemic keep them down. In fact, a recent research survey from Gusto has found that up to 40% of women entrepreneurs launched their businesses as a research of the pandemic, and many are reaching out to other women to help them bounce back from the pandemic as well.
Business Courses to Build Business Leaders
Brit Morin, the founder and CEO of Brit + Co., believes it’s never been easier to start a digital business. Approximately 900,000 domains are registered online every week. However, what isn’t so easy is finding a job opportunity, especially because 80% of job openings aren’t posted online. In response to massive job losses during the pandemic that disproportionately impacted women, especially women of color, Morin founded Selfmade. Selfmade is a 10-week digital entrepreneurship course designed for women that features the CMO of Netflix, Bozoma Saint John, and the CEO and founder of GOOP, Gwyneth Paltrow.
Morin says the 10-week course provides women with an alternative to an MBA. Although college enrollment rates have increased 195% since 1970, MBAs can be time-consuming and expensive, especially for women who don’t have the resources.
Women in Community
Myka McLaughlin, founder of WINC (Women in Community), is also aiming to provide women with an alternative to an MBA to help save time and money. WINC teaches women how to financially forecast, benchmark, and track numbers so they can start their businesses with financial literacy under their belts. McLaughlin says it’s often financial literacy that women entrepreneurs lack and are overwhelmed by and so WINC helps bridge the gap between their business ideas and their business reality so they can achieve their dreams. Since the launch of Women in Community, WINC has helped over 15,000 businesswomen.
Kelly McGonigle, the co-founder of Ladies Who Launch (LWL), says women thrive off mentorship, connection, and community. And rightly so. From virtual classes and courses to community leadership, many women entrepreneurs are looking to help others come back from the COVID-19 pandemic and get started on their business journeys.