Gender economist and the CEO and founder of Denver-based Pipeline, Katica Roy.Courtesy of Pipeline
Gender economist Katica Roy: Female-owned business' access to cash is mission-critical to save our economy
The economic stimulus bills that allocated $660 billion for small business loans certainly helped our economy. However, it didn’t account for entrenched gender inequities,” explains Roy in an op-ed for Know Your Value.
When we voluntarily shut down the economy to contain the spread of a highly contagious virus, our economic gears grind to a halt. And as a result, many structurally-sound, viable startups have suffered.
In fact, a full 20 percent of startups have had term sheets cancelled as a result of COVID-19. And only a quarter of startups that were currently raising funds before the pandemic have either had the fundraising processes continue or actually received funds.
Now strapped for cash, almost half of startups are teetering on the edge. The situation is particularly acute for female-led startups because they receive disproportionately less funding than male-led startups. Yet, it’s precisely these startups that help keep our economic engine running. If we want to recover faster and stronger from this economic crisis, we need to make sure female-led startups receive adequate access to capital—now.
An article by nbcnews.com