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2021 Prediction: The Pandemic’s End Could Be Start of a Boom for Women Entrepreneurs

Cate Luzio thinks the pandemic would possibly ignite a growth in women-owned enterprise.

She has an inside view: Her personal firm, Luminary, which is devoted to elevating girls in management roles and in entrepreneurship, works with many founders and would-be founders. Along with company members, Luminary, primarily based in New York Metropolis, has greater than 1,000 particular person members who take part in occasions {and professional} teaching.

Previous to founding Luminary in 2018, she’d been a finance government, and noticed the monetary disaster create a growth of entrepreneurship–some of that, out of necessity, and a whole lot of these being girls. She says that the “progress of 1,800 new companies began per day by girls, predominantly girls of coloration all the best way up till the pandemic hit” may actually be dramatically elevated by the truth that greater than 5 million girls left the workforce in the course of the pandemic.

As jobs had been displaced, and others left jobs because of childcare or household wants, Luzio predicts these staff aren’t prone to sit idle.

“These individuals are going to nonetheless want earnings. I really assume, and what we’re seeing is increasingly more significantly girls saying, ‘I will go do one thing alone,’ ” she advised Inc.’s What I Know podcast.

The pandemic has opened a whole lot of challenges for households in particular–and new ones that ladies can resolve, Luzio says. However they’ve their very own steadiness to strike in life, and lots of are seeing past a 40-hour work-week.

“For individuals who need flexibility, who possibly cannot get it with their present group or firm, I believe that is going to be a chance, very distinctive that we’ve not seen earlier than,” she says.

She sees the potential growth in entrepreneurship over the approaching years as a silver lining to the previous year-and-a-half that noticed girls knocked out of the workforce disproportionately.

“I really assume it is a actually thrilling time for girls and entrepreneurs and small enterprise house owners,” she says. “I see them rising each single day.”

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