U
D

Conversation

the

Report: The Pandemic’s Effect on New Founders

In September 2020, Female Founders Alliance surveyed a diverse group of professional women and non-binary individuals with high likelihood of having entrepreneurial aspirations. 38% of the group identify as BIPOC and 5% use they/them pronouns. This is what we found.

Changes in employment

From our sample, during Covid19, the percent of stay-at-home parents increased four fold, while the percent of unemployed individuals looking for work tripled.

A decrease in entrepreneurship

Before the pandemic, 87% of our sample were somewhat or highly likely to leave their job and start a company. Six months later, 51% of them have delayed or completely scrapped these plans. The primary reason was finances – including the need for a steady paycheck and benefits, and the challenges raising capital for their company.

The huge pressure on moms

A fifth of respondents lost all or most of their childcare. 70% of those with school-aged children are now responsible for their remote learning. 45% are fully or mostly responsible for the additional workload brought on by the pandemic – even though most are still employed and living with a partner.

The silver lining

16% of those who had entrepreneurial aspirations (14% of all respondents) ended up starting a company in the past 6 months, sooner than they had been planning to. The majority of them did it because an opportunity came up that was too good to wait.

Editor

Editor

The Switch Editorial Team.

Straight to your inbox.

The best content on the future faces of tech and startups.

This field is for validation purposes and should be left unchanged.

SHARE THIS STORY
NEW COHORT STARTs on 8/8

Join the Angel Sessions

Develop strategic relationships, build skills, and increase your deal flow through our global angel group and investing course.

RELATED ARTICLES