COVID-19 has hit businesses hard and driven the economy into a recession. Unemployment in the United States grew from almost four percent in February to 13 percent in May.
While that number subsided by a couple of percentage points last month, bankruptcies have continued. According to Bloomberg, since March at least 114 companies have filed for bankruptcy, citing coronavirus as a factor.
The question that looms large is how we can build a strong, resilient post-COVID economy.
Some strategies, like those from McKinsey & Company , recommend prioritizing employee health and skills and bolstering innovation.
But we can also look to the 2008 Great Recession to find a way forward. One lesson to learn is the value of female entrepreneurs.
Cornerstone Capital Group, an impact investing advisory firm, came out with a paper this week that details the ways female entrepreneurs uniquely supported U.S. economic recovery after the ’08 recession and how the nation can maximize those benefits today as it looks ahead to a post-COVID economy.
Female entrepreneurship stimulated the economy after the Great Recession
Cornerstone Capital’s report reveals many contradictions in numbers for female entrepreneurs. Women-owned businesses are growing fast — at a rate of 21 percent since […]
read more here —> www.triplepundit.com