Since the pandemic began, more Black and Latina moms have been turning to entrepreneurship as a way to balance both domestic responsibilities and work.
Today, more minority women are finding freedom in running their own businesses, after struggling at low-wage, hourly jobs and job losses during the height of the pandemic.
According to research conducted by online e-commerce platform, Shopify, the pandemic has inspired moms to explore alternative ways to work. The study surveyed 1,532 parents in the U.S., and found that 62 percent of mothers were interested in supplementing their income, with more than half of moms reporting at least some interest in starting their own business.
Of these women, Black and Latina moms reported the highest levels of interest in entrepreneurship.
More than half of women with children are interested in entrepreneurship
- 16% of women with children are “very interested” in starting a business.
- 44% of women with children are “slightly/moderately interested” in starting a business.
- 40% of women with children are “not interested” in starting a business.
Black and Latina moms are turning to entrepreneurship to regain control over their lives
Women of color have been disproportionately affected during the pandemic, with Black and Latina women suffering the greatest job losses. Since then, many have been looking for alternative sources of income and other employment options. Entrepreneurship is one way for many Black and Latina moms to regain control, freedom, and balance over their lives.
Black and Latina mothers were 2x as likely to report wanting to start their own business compared to White and Asian mothers.
- 33% of Black women with children said they’re “very interested” in starting a business.
- 29% of Latina women with children said they’re “very interested” in starting a business.
- 13% of Asian women with children said they’re “very interested” in starting a business.
- 13% of White women with children said they’re “very interested” in starting a business.
Single moms and mothers with younger children also benefit from the freedoms of being your own boss. The Shopify survey found that:
- 22% of single women with children said they are “very interested” in starting a business, compared to 14% of married women with children.
- Women with younger children (5 years old or younger) are more likely to want to start their own business compared to women with older children.
Part of this has to do with access to affordable childcare. For many working women, childcare is a struggle. During the pandemic, many moms were forced out of the workforce to take on caregiving responsibilities at home. For those with younger children and single parents, childcare is an ongoing issue that prevents many women from focusing on their career goals.
Entrepreneurship allows women to balance their work and home life, and provides them with the flexibility to be both moms and business owners. With technology and the normalization of remote-work, working from home has never been easier!
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These days, almost any business can be a home-business. The pandemic exposed many issues in the workforce and how these issues affect working moms. For Black and Latina moms disproportionately affected by pandemic layoffs and unemployment, entrepreneurship is a new horizon of opportunity and freedom.
To all the moms out there who have been thinking of starting their own business, the time is now!
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