NOVEMBER 2023  caregivers & entrepreneurship  

 

November is Caregiver Awareness Month. Caregiving is a public health concern that can lead to physical, emotional, psychological, and financial strain.  Millions of older adults and people with disabilities could not maintain their independence without the help of unpaid caregivers. At least 8.4 million people in the U.S. provide care to an adult with a mental or emotional health issue. Caregivers of adults with mental or emotional health issues spend an average of 32 hours per week providing unpaid care. This care would cost nearly $470 billion a year if purchased. That’s why caregiving is an essential public health service.

 

Caregiving can affect the caregiver’s life in a myriad of ways including his/her ability to work, engage in social interactions and relationships, and maintain good physical and mental health. Providing personal care and helping with behavioral and cognitive issues can be stressful for caregivers and result in depression and anxiety. Many employed caregivers have had to leave work early or take time away from work, resulting in lost wages. Nearly 2 in 10 employed caregivers had to stop working, while 4 in 10 had to reduce their working hours to care for a loved one.

 

Caregiving for Family and Friends | cdc.gov

Caregiving in the US 2020 | National Alliance for Caregiving

Mental Health By the Numbers | NAMI

1 in 5 Americans is a Caregiver!  - RespectCareGivers

 

 


Coffee with a Cause november 2023     

 

November is National Entrepreneurship Month. Disability is the largest underserved and underrepresented group impacting 27% of Americans and 23% of adults in Colorado. The SBA reports 2 out of 3 jobs are created by small businesses, and that almost 8 in 10 small businesses are self-employment models. At the same time data shows disability-owned businesses employ 10X the employees with disabilities than other firms.

 

Entrepreneurship has long been an option for individuals seeking schedule flexibility or increased incomes. Today, individuals with disabilities and caregivers are turning to entrepreneurship to meet both individual needs as well as professional and financial goals. At the same time the 2020 Colorado Disparity study found only 0.37% of supplier diversity dollars allocated by the state are reaching disability-owned businesses (DOBEs).

 

Colorado Small Business Economic Profile (sba.gov)

State of Colorado Disparity Study | OSC

2020 State of Colorado Disparity Study Executive Summary - PDF

Economic Impact of Disability Owned Business - Disability IN

 

 

 


Coffee with a Cause  november 2023  

 

Business classifications are used to identify entity eligibility for government programs and benefits similar to how individuals qualify for services and supports based on poverty level.  Business classifications for supplier diversity and other small business programs eligibility begin with small-business enterprises (SBEs). Then we have minority-owned enterprises (MBEs), and woman-owned enterprises (WBEs). The definition expanded to include veterans (VBEs), service-disabled (SDVBEs), disability-owned business entities (DOBEs) and other underrepresented or underserved groups.

 

Starting a business offers people the opportunity to earn a living and connect with private health plans while maintaining choices such as healthcare providers, work hours, nature of tasks, etc. Data indicates supplier diversity and other small business programs work and costs less than providing lifetime benefits. For example in Colorado veterans make up 6.3% of workers and owned 7.2% of businesses, the only category where ownership outpaces workforce participation. This shows how access to small business programs increase options and improve outcomes for individuals while reducing government costs.

 

Supporting Caregivers | CDC

Entrepreneurs can help Fix the Disabled Unemployment Crisis | Entrepreneur

Why You Need a Supplier-Diversity Program | Harvard Business Review

 

Remember a balanced approach uses verified data to identify problems and to propose actionable solutions. Only those willing to have difficult conversations can solve difficult problems. The first step to solving any problem is accepting the data indicating a problem... not blaming the messenger or method of delivery. 

 

So join us for Coffee with a Cause and let's keep the conversation going each month with more data and actionable real life solutions!