VNM Small Business Magazine Issue 023

Page 8

Can you be a stay at home mum and create your own business? Many women grow up with a desire to eventually become an entrepreneur. Whether it means starting their own fashion line, or creating their own catering company, women from around the world have a

burning urge to one day make a difference to the world and to be able to support themselves financially. So what happens when these women decide to settle down and start a family? The days where they would shop different fabrics and sketch out fashion statements are now replaced by screaming children desperately seeking their mother’s attention. It sounds discouraging doesn’t it? By the time the child is old enough to go to school, the mother has passed the point of wanting to fulfil her lifelong dream of starting a business, and now her only desire is to get a good night’s rest. Of course, she still needs to be financially stable for her family, so she spends endless hours working a job that she finds no passion in, simply to bring in a fortnightly pay-cheque. Soon enough her kids have grown up, moved out, and she no longer feels determined to start a new career pathway. Don’t let yourself fall victim to this trap. Did you know that a study conducted in 2017 showed that there are over 345,000 Australian mums who started their own businesses after becoming a parent? According to statistics, 21% of those mums own more than one business with 84% working solo and having no staff. If that doesn’t sound encouraging enough, take into consideration that 52% started their business in an entirely different field and only 32% were on parental leave when doing so. It won’t necessarily be easy, but these facts show how incredibly beneficial it is for mothers to finally take that plunge. Let us discuss why. If you look into it closely, you will find a correlation between the skills learnt to become a mother, and the skills needed to become a business owner. Things


such as prioritisation, delegation, practicality, multitasking, and being able to complete projects on time are only a few of the qualities needed that most mums seem to already have. If you incorporate the day to day chores that a mother encounters, into strategies needed to start your own small business, you will find that you could adapt to the similarities a lot quicker than you would think. And while a lot of mothers may still argue that even if they have the capability of starting a successful small business, many simply cannot afford it. With the increase in childcare, food at the supermarket, and petrol, how can a mother use her spare change to start a business? Don’t these things cost an arm and a leg? Absolutely not. Statistics show that 55% of women used their personal funds to fund their business. That being said, if you begin with a budget and work your way up, soon enough you will be able to grow your business even further through marketing and advertising. Not all businesses will cost you your life savings. With enough research into which direction you are planning to head in and what resources are already available for you, you will be able to determine whether this is something that you will be able to manage on your own. Additionally, if you are finding that the financial strain is a little bit too high, numerous banks have plenty of personal loan options available for you. But the bottom line is that you will never know unless you try. So what are you waiting for? See our article below on how to take the plunge and finally start your own business.

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