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Heidi Sheppard, Project Director, DCWBC Monti Taylor, Resource Coordinator, DCWBC Bruce Mitchell, Ph.D., Senior Research Analysis, NCRC Jason Richardson, Director, Research & Evaluation, NCRC The DC Women’s Business Center surveyed 274 small business owners in the D.C. metro area to learn how the COVID-19 pandemic and economic downturn affected their businesses. The report, based on a survey of 274 DC Women’s Business Center (DCWBC) clients and clients of partner organizations during February and early March 2021, provides a unique window into different needs and experiences of women business owners in the D.C. metro region during the pandemic. Click on Website below to read Report summary, Takeaways, Read report online, DOWNLOAD the report, and see the 21 partners who contributed. https://ncrc.org/women-owned-small-businesses-in-d-c-metro-region-challenges-resilience-in-a-time-of-pandemic-elementor/ — KEY TAKEAWAYS Disparities in the accessibility of capital and federal aid may have impacted minority women-owned small businesses far greater than other businesses due to their historical exclusion from banking and lack of banking relationships. More public and private sector spending should be directed toward supporting minority women-owned businesses in order to produce greater family and community wealth. — KEY FINDINGS 77% of 274 surveyed businesses reported that they had unmet funding needs of $5,000 or more. 41% percent of survey respondents received federal relief from the SBA, yet 42% had not sought any financial assistance from any source. Only 16% of the businesses had adequate capital available and did not need further aid or investment. The respondents who were affected by COVID-19 stated they needed to grow their revenue and sought to do so by accessing affordable capital, diversifying their revenue streams, enhancing their online presence and conducting more digital outreach. Contact Phone: 202-393-8307 Email: info@dcwbc.org Address: 740 15th Street Northwest, Washington, DC, USA
Heidi Sheppard, Project Director, DCWBC Monti Taylor, Resource Coordinator, DCWBC Bruce Mitchell, Ph.D., Senior Research Analysis, NCRC Jason Richardson, Director, Research & Evaluation, NCRC
The DC Women’s Business Center surveyed 274 small business owners in the D.C. metro area to learn how the COVID-19 pandemic and economic downturn affected their businesses.
The report, based on a survey of 274 DC Women’s Business Center (DCWBC) clients and clients of partner organizations during February and early March 2021, provides a unique window into different needs and experiences of women business owners in the D.C. metro region during the pandemic.
Click on Website below to read Report summary, Takeaways, Read report online, DOWNLOAD the report, and see the 21 partners who contributed.
https://ncrc.org/women-owned-small-businesses-in-d-c-metro-region-challenges-resilience-in-a-time-of-pandemic-elementor/
Phone: 202-393-8307 Email: info@dcwbc.org Address: 740 15th Street Northwest, Washington, DC, USA