DENVER (KDVR) — More and more Coloradans who found their jobs jeopardized by the pandemic are taking matters into their own hands when it comes to securing employment.
Many, including plenty of Colorado women, are doing so by creating their own small businesses and becoming their own bosses.
Nationwide, data from the U.S. Census Bureau shows it received more than 1.5 million new business applications as of mid-December.
Applications are up 82% compared to a year ago.
Across the country and here in Colorado, experts say women are starting businesses out of necessity and because the timing is good.
“I have been honestly waiting for this moment for so long,” said Bri Seeley, an entrepreneur and entrepreneurial coach.
Data shows more women have lost jobs during pandemic, compared to men.
Recent surveys also show more women looking to give entrepreneurship a shot because of it.
“A lot of [women] said, either: ‘I had no choice, I knew that if I wanted to continue making money and do it on my terms I had to go this route,’ – and then a lot of them said, ‘my job was eliminated so I had to figure something out’.
In order to start a successful business during the pandemic, Seeley advices new entrepreneurs to sit down and hammer out a business plan, which could include: expenses, space to work in, supplies, permit fees and labor costs.
“I always tell entrepreneurs, ‘do the business plan, it’s going to help you be 152% more successful in starting your business’. And develop a personal success plan for yourself, to make sure you’re not the missing link in your business,” Seeley said.
According to the U.S. Small Business Administration, it cost about $3,000 to start a micro-business.