During any regular time, starting and maintaining a small business is a challenge. From developing a viable business plan, to raising capital and managing revenue and expenses, it’s no small feat. As a matter of fact, 15% of small businesses fail in their first year, while 40% do not make it past the fifth year. These statistics are even worse for women-owned small businesses, especially during the 2020 COVID-19 pandemic where they find themselves disproportionately impacted, as reported by a recent U.S. Chamber of Commerce survey. The survey reveals a 13-point decrease in female business owners’ overall ranking of their business health, as compared to a mere 5% decline for male-owned small businesses. As a Certified Public Accountant (CPA), I’ve had the privilege and pleasure to work with and learn from a number of women-owned small businesses, especially in times of economic crisis like the one we’re currently facing.