The COVID-19 pandemic delivered a severe shock to young firms, but for youth entrepreneurs, particularly young women and those from Sexual and Gender Diverse (SGD) groups, the crisis intensified existing vulnerabilities and threatened the diversity of the entire enterprise sector. This episode explores how, beyond the common struggles of plunging revenue and closures, female founders disproportionately shouldered the burden of unpaid care work, severely limiting their capacity to manage their businesses. For both young women and SGD entrepreneurs, pre-existing systemic barriers—such as limited access to capital and supportive networks—were dramatically exacerbated, making it nearly impossible for them to pivot, secure relief financing, and survive the economic shock, underscoring the urgent need for equitable support.