Picture credit: designweek.co.uk
Yvonne Greeves, director of women in business at NatWest, discusses the practical support available to women at every stage of their business journey.
It is fair to say that 2020 has not been the year that most of us planned. Every business in every industry has had to adapt in some way to the challenges of life during a pandemic. Recent research has indicated that some have faced harder decisions and choices than others.
The pandemic has created a perfect storm, and women entrepreneurs have spoken about some of the additional challenges in terms of juggling family priorities while looking for innovative ways to pivot their existing business model to survive and thrive through the crisis.
The women’s advocacy organisation Close The Gap says the coronavirus crisis has also had a disproportionate impact on women. Not only do they make up the majority of key workers, their businesses are often in sectors that might see a greater impact of coronavirus. Accommodation, food services and retail sectors, among others, have all been adversely impacted by consumer spending power and changed preferences.
In March 2019, the Rose Review into female entrepreneurship identified access to funding, risk awareness, primary care responsibilities and perception of skills among the barriers to female entrepreneurs in the UK. One year on from the review, NatWest CEO and the review’s author, Alison Rose, described the progress made as “just the beginning”.
It is more important than ever that women entrepreneurs have access to the resources they need to ensure they’re not disproportionately affected once things are back to normal.
Our Women in Business hub is designed to celebrate female entrepreneurship while providing tailored and targeted resources and inspiration.
For more information and access to NatWest’s insights and resources, click here.