What we're looking for is flexibility, job security and equal pay for equal work.įorbes Finance Council is an invitation-only organization for executives in successful accounting, financial planning and wealth management firms. Starting a business requires a lot of hard work, but in my experience, women have never been afraid of working hard. There is also financial assistance available through grants, which are available to those looking to launch or grow their small business. Starting a small business certainly isn't easy, but the Small Business Administration has many resources to help you get started. This schedule would be much more difficult if I could not set my hours to include family time into a busy workday. These days, that same flexibility allows me to work a 50-hour week and ferry my children to and from school, as well as still have time to make dinner and disinfect the house. I love my work, and I love that my business allows me to be present in my children's lives. I launched my fee-only wealth management firm focused on serving women in 2002, and doing so gave me the flexibility I needed. Stacy Francis is the President and CEO of Francis Financial, a fee-only boutique wealth management, financial planning and divorce financial planning firm dedicated to providing ongoing. Starting a business allows women to reenter the workforce when they are ready, in a way that supports their lifestyle needs. In it, report co-author Lareina Yee noted that this is because "working moms are reporting an additional 20 hours of responsibilities at home during the pandemic related to child care and more on top of their traditional 40-hour work week." A recent study from and McKinsey & Company found that almost 75% of senior-level women who were considering leaving the workforce or reducing hours cited "burnout" as their primary reason for doing so, according to an ABC News article. In addition to the job losses, another Washington Post piece noted that more than a million people dropped out of the workforce in September, and almost 80% of them were women. The Washington Post noted that mothers saw greater job loss than fathers, and the majority of these jobs have not come back, particularly for moms of school-aged children. In terms of job loss, the virus has had a disproportionately more painful impact on women. The belief that corporate jobs and being an employee is a secure path to wealth has been busted during the pandemic, which makes starting a business much more attractive to women.
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