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  • Stuart Fine

Women and Minority Led Businesses Losing Ground During the Pandemic



We can’t let the crisis move back the hands of Progress

Over the years, business and capital investors have made strides in diversity investing. More women and POC firms have received funding than ever before. However, when difficult times roll in, and they always do, we revert back to the things we know. Capital investment is no different. It’s built in and it's something that needs to be overcome. There have been numerous studies showing women led organizations thriving in the so-called Man’s World and that diversity led groups have better success rates than non-diverse led groups. But, what this pandemic proves is that we still need to be vigilant and aware that we can easily stray off the paths of equality. Recently, Pitchbook put out some research regarding venture funding as it related to women. Venture funding for female founders dropped 48% in Q3 vs. Q2. It has hit its lowest quarterly total in three years. The total VC investment level during this year hasn’t dropped. While I’m sure that money that might have been earmarked for new investments went to shoring up existing businesses, seeing the drop in women founded/run businesses shows the fragility of the space. So the question begs, “How do we adjust this trend so it doesn’t continue?”

I don’t have an absolute answer to this question. I’m not a venture capitalist. What I can tell you is what I am doing right now to mitigate my own biases. I’ve set up my company’s website (www.carpedminc.com) to let people book 30 minutes of my time for FREE. Women and minorities get priority. You book, you get my undivided attention. We listen to your problems and discuss solutions. That’s it. If you want more time, we will make more time for you. If you decide you need more than a 30 minute call can provide and you hire us, that’s great too. Right now, we want to help people succeed. If you want to see the details and charts of how the Pandemic has affected women led businesses, here is a link to the Pitchbook article:

https://pitchbook.com/news/articles/vc-funding-female-founders-drops-low

 

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