The COVID-19 pandemic is taking a major toll on women business owners in the state, according to a survey by Energize Colorado released Wednesday.
Of women-owned businesses, 86% reported they would not be able to operate for more than six months if current conditions and revenue continue. In addition, 44% reported they would not last another one to three months.
This is largely due to decreased revenue during the pandemic. A whopping 94% of businesses reported a decrease in revenue due to COVID-19, with 17% losing 80-100% of revenue and 28% losing 40-60% of revenue.
More than 70% of businesses reported canceled events or business and over 60% reported challenges with COVID-19 occupancy limits. Around 60% of businesses have had to decrease staffing during the pandemic.