A study by Bain & Company, Google and AWE Foundation surveyed close to 350 women entrepreneurs and small business owners in urban India. Their report said almost 73 percent of women were negatively impacted by the pandemic with 35 percent experiencing a significant decline in revenue (25 percent to 75 percent). The revenue of almost 20 percent of women entrepreneurs dwindled to zero.
As per the study released by Bain & Company in October 2020, 54 percent of the women interviewed had changed their business model in response to the pandemic, and another 24 percent planned to make a change by December 2020.
The Bain & Company study points out that in addition to low (and falling) female labour force participation rates, women experience three times more unemployment than men. The proportion of unpaid women workers in India (66 percent) is much higher than that of men (12 percent). The Covid-19 pandemic cost many women their jobs. While some decided to take on household responsibilities as the entire family is now at home, some decided to start new ventures.