One of the focus areas at the Franchise Association of South Africa's (Fasa) upcoming Franchising in Africa conference is Covid-19's effect on female entrepreneurs and their revenue generation. The seminar is set to take place virtually on 25 and 26 August 2021.
A recent study conducted by Lionesses of Africa reveals how South African women entrepreneurs persist despite daunting challenges. The research found that women entrepreneurs responding to the survey lead enterprises while managing family responsibilities with 76% having children in their home.
The pandemic affected female employers to the extent that Covid-19 negatively affected their revenues by 82%. More than two-thirds reported that they had either reduced their own salaries or stopped paying a salary to themselves; and as employers had to make several changes to their staffing.
Over half (58%) froze new hires, 41% reduced staff hours and wages, and a half laid off staff — 22% laid off permanently and 26% temporarily.
Despite this, South Africa’s women entrepreneurs expressed optimism about their revenue outlook for the remainder of 2021, with 76% of respondents expecting to increase their revenues. South Africa’s women entrepreneurs report a strong dedication to their communities and see a role for themselves and other women entrepreneurs in creating jobs.
The motivations in launching their business enterprises reflect their interests in supporting themselves and their families as well as their commitment to uplifting others.