Half of all businesses started in the pandemic era were founded by a woman, compared to just 29% in 2019. A business incorporation surge and the role women have played reversed decades-long trends during COVID-19 disruptions.
“The pandemic just opened up a huge window for people to be able to do their thing, no holds barred,” said Omi Bell, the DC-based founder and CEO of Black Girl Ventures, which connects women of color to capital and other business resources. “It shifted how we think everything has to happen.”
The COVID new-business boom was welcome news, after decades of entrepreneurial decline in the United States. Nearly four years after a pandemic shook economies and identities, rates of new business incorporation remain elevated. Women are the biggest contributor to the difference between 2019 and 2023 business rates. Black women in particular are disproportionately incorporating new firms, as Technical.ly has reported.
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