Mar 29, 2021
Companies Founded During Economic Downturns
It is hard to start a company. It takes an entrepreneurial mindset, countless hours, and determination to get a company off the ground. But, entrepreneurship allows you to follow your own footsteps and write your own destiny. We are talking about this because for the month of November, we are focusing on women in entrepreneurship. We want to give you the knowledge and the resources to design your own futures.
Sheryl Lawrence
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2 min. read

It is hard to start a company. It takes an entrepreneurial mindset, countless hours, and determination to get a company off the ground. But, entrepreneurship allows you to follow your own footsteps and write your own destiny. We are talking about this because for the month of November, we are focusing on women in entrepreneurship. We want to give you the knowledge and the resources to design your own futures. 



We want to start by highlighting companies that were founded during the 2008 recession in the United States and a company founded in the summer 2020. With the COVID-19 pandemic still rampant all over the world, there may be some obstacles to overcome, but it is still possible to achieve your vision.


Airbnb


Airbnb was founded in 2007 with the founders creating a website, buying an air mattress for their extra room, and renting it out to people. The company steadily grew into what it is today, but has struggled with the decrease in travel amid the COVID-19 pandemic. In an interview with Daniel Roth, Editor in Chief and Vice President at LinkedIn News, Brian Chesky, the CEO of Airbnb, discusses how he struggled to find answers to save the company. One of these answers was to pivot to create funds for people who rely on Airbnb as a main source of income. Read more about what Chesky says about his journey here



Square


Square was founded in 2009 by CEO Jack Dorsey and Jim McKelvey after McKelvey was losing sales from not being able to process credit card payments as a glass blower. They decided to create Square to cut the costs of taking credit card payments for companies. McKelvey recently gave advice to people looking to start a business during the COVID-19 pandemic stating it is a great time to do so. In an interview with the St. Louis public radio, he suggests that most people with large businesses don’t have the perfect qualifications. With that knowledge, anything is possible for anyone…even during a pandemic.



Glossydaze Cosmetics


It would not be a GrasshoppHer blog without featuring an organization led by womxn! This business was created amid the COVID-19 pandemic and resulting economic crisis. Glossydaze Cosmetics was founded by Caroline Onwuzu, who is a human development and family sciences junior at The University of Texas at Austin. She was interviewed by The Daily Texan, and talks about self-care in the world of entrepreneurship and how it is important to remember what you are working so hard for.