The pandemic was a challenging period for everyone, including business owners. Many businesses that were thriving before the pandemic began to eat the dust. It even became more difficult for aspiring female entrepreneurs to start a business because of a shortage of funds. Thankfully, this was salvaged through a business loan for women and other funding sources.
In this piece, we will be looking at the success stories of women whose businesses thrived due to their innovative and creative mindset during the pandemic.
Examples of Success Stories of Pymes Created by Women During the Pandemic
PYME is a Spanish word loosely translated as Small and Medium Enterprise in English. During the pandemic and with the availability of business loans for women, many female entrepreneurs began thinking of the next business idea that would survive the peculiarity of the lockdown.
Here are a few success stories of businesses that scaled during the pandemic
Before the pandemic, Aunt Flow was a brand notable for selling organic menstrual products to organizations. However, when the pandemic hit, Aunt Flow decided to make a complete switch by focusing on Personal Protective Equipment (PPE). It got to a point when the company was producing around 100,000 face masks in one day.
GMI Group is another business owned by women that pivoted during the pandemic. The company was notable for providing cleaning services across the southeastern axis of the United States of America.
During the pandemic, they included the production of antimicrobial agents that could help obstruct the spread of the virus. One of these agents was their green-certified hand sanitizer that leaves you 99.9% germ-free.
P.volve is a female-owned business that offers people the chance to use their fitness studios for personal workout gains. When the pandemic came knocking, they closed because no one needed an outdoor workout since everyone was indoors.
Hence, the company switched to offering online services where users had to pay a subscription fee. So, people can still watch instructors teach different workouts from the comfort of their homes.
Sparrho is a business that brings everything about science to your fingertips. They are experts in helping you understand any new scientific research. When the pandemic began, the team, which Dr. Vivian Chan led, came up with a COVID-19 specific program to give people the correct information. This was done to limit the spread of false information about Covid.
What Percentage of Personal Business Loans Went to Women During the COVID 2021 Period
Many business owners struggled with securing funding like business loans for women during the pandemic, and some of them resorted to getting personal business loans to keep their enterprise afloat. One of the initiatives that provided women entrepreneurs with affordable financing was the Community Development Financial Institutions (CDIFs).
When giving loans, they have low and convenient requirements like low credit scores, no consideration in the years of experience, etc. However, women business owners need to prove that they are creditworthy. Also, several private lenders had flexible personal business loans option for women-owned businesses to prevent their startups from collapsing.
Importance of Women in the Creation and Participation of Businesses in the Business World
One of the biggest problems that the world is facing is women’s inequality in the business world. Even though more women are now playing a participatory role in entrepreneurship, more are still needed.
Here are some reasons why more women need to be involved in the creation and participation of businesses
They Are Likely to Be More Organized and Focused
One of the things that women are very good at is organizing and knowing how to prioritize. A woman can be taking care of a baby while working remotely and attending to other household duties.
When it also comes to multitasking, it comes naturally to them. This is one of the talents they can bring to the business world. They have the knack to see through several ideas and pick those that will take the business to greater heights.
They Are Go-getters
Women are also great at getting results. This is why collaborating with them in creating and expanding businesses usually yields excellent results. They are skilled at knowing what to do that will deliver results. Women are also great at interpreting a company’s vision and ensuring they follow through.
They Exhibit More Soft Skills
One of the strengths of a woman in the business world is her soft skills. Many of them are great at communication, problem-solving, leadership, teamwork, time management, creativity, adaptability, empathy, etc.
These soft skills help them appreciate people’s efforts and skillsets. Notably, the empathetic nature of a woman can help in bringing calm to a tense boardroom.
They Are Great Listeners
If you don’t want to miss out on any information, you need a woman on your team. Many women have excellent listening skills. They know when and how to absorb information and focus on the critical part. With this, they can make significant decisions that positively affect the company.
The bottom line is women are exceptional at delivering results that can give any business a significant facelift. They know how to maneuver situations and still come out strong. One of the challenges they face in getting loans for their business.
However, with business loans for women, they can access funding for their startups. To know how to access loans for women, check the link in the introductory paragraph to get started.