Article by Guest Blogger Sarah Bull of EconomyMom.com
By the end of 2019, women were found to outnumber men in the workforce, which was a real cause for victory. Unfortunately, whatever gains women enjoyed were short-lived, as the decline in employment brought on by the current recession hit women the hardest— across all racial and ethnic groups, at that. And this isn’t the only way women are struggling more than men during this recession. Countless women already deal with low pay and limited savings and benefits. All on top of added responsibilities like caring for their children and families.
If you’re one of the multitudes of women who have recently lost a livelihood, it can be all-too-easy to feel despair. However, you also know you are far from helpless and can find ways to triumph over such adversity. Regardless of whether you’re staying at home by force or by choice, there are a good number of income-generating activities you can pursue. Who knows? You may just find that the economics of staying at home isn’t so bad and actually works better for you. So without further ado, let us count the ways.
Try your hand at freelancing.
It’s been said that freelancing in a recession is a good thing. This is very true, and for some very simple reasons. The fact is, in a good economy, enterprises are bound to hire people left, right, and center. In a shaky economy, on the other hand, businesses will want to keep their overhead as low as possible. However, they also still need to get things done, making outsourcing the best course of action.
With that in mind, there’s no better time to start freelancing, whether full-time or part-time. Moreover, there’s also no dearth of freelance services you can offer, running the gamut from the technical to the creative, so make sure to play to your strengths and bank on your skills. For instance, you can offer your services as a virtual assistant, a customer service rep or even as a freelance Microsoft Word expert through a reputable online job board.
Bank on your skills and hobbies.
And speaking of playing to your skills, there are actually even more ways you can do so aside from freelancing. While many might argue that a recession is not a good time to start a business, there are products that potentially sell well during such a time. Perhaps you have a creative hobby that aligns with these, or maybe even talent in the kitchen you can leverage—the list could go on and on. These, in turn, could make for fantastic small or micro businesses that can be started in a recession.
There are several micro-business models you can make use of if you want to generate income from home on products that you create. The fact is, the infrastructure and tools that can help you sell online are so easily accessible today that it’s a shame not to take advantage of them.
Shift to e-commerce.
And speaking of online selling, if creating your own products is not your thing, you can also look to sell other products through your own e-commerce business. There are several ways you can go about this, as well, such as carrying inventory and dispatching from home, or even working with a third party and dropshipping—the possibilities are endless! And, again, with the platforms and resources all readily available to get your business off the ground, the earning potential is truly undeniable.
Indeed, there’s no shortage of legitimate side—or even main—hustles that you can pursue as a struggling woman, in a recession or otherwise. You likely already have the skills and ingenuity to make it work, and possibly even the tools to get started. So don’t let the recession get you down because, chances are, you’ve faced worse things. You’ve got this!