While the pandemic and the resulting business closures were difficult on business owners from all walks of life, women were hit especially hard, studies found.
A new Union Bank survey found that the pandemic had a disproportionate impact on women-owned small businesses, with 64% of respondents saying they felt they had no control over the situation, versus 54% for men.
They also reported higher median revenue losses: 50% revenue loss for women-owned businesses versus 35% for men.
But despite this, women respondents still said they remain optimistic and positive.
Here in the Santa Clarita Valley, women business owners agreed that