Mumtrepreneurs are more than a passing fad. These resilient personalities are a growing trend in the field of small businesses, and make up over 33% of the industry in Australia alone. In many respects, this rise in the field of start-ups makes a lot of sense, since becoming a mother does represent a great change in life and perspectives in factors of what is important. Maternity leave can often afford the space to reconsider purpose and passion, and this can become the impetus to create a dream business that further fills overall goals.
In considering the many changes that take place, both in motherhood and in generating a small business, it is necessary to look at both beneficial factors and risks in making a start-up work. While there is uncertainty in all business ventures, success comes from following the dream, and believing in the process to make it work.
While having the passion to become a mumtrepreneur is a first step, having a sound business plan is also necessary. Maternity leave can provide a good time for doing research, developing strategies, and gaining advice from other professionals. This also helps to start the necessary support network that can be a part of the long term enterprise, and can help guide start-up mums along the way.
Finances are also a concern that should be factored into both short and long term equations. Government grants, such as the NEIS program, can help with initial capital, but being resourceful with funding can also lead to the flexibility to persevere. While some mums will draw on their own savings, others may enlist help from family and friends which can build partnerships that are sustainable.
All businesses take time to grow, and most returns do not start surfacing until the second year. This will require that enterprising plans look at the long term for success, but this perspective can also help to generate confidence, which leads to achievement. Another aspect of mumtrepreneur success is also the element of flexibility. This is certainly evidenced in work hours and multi-tasking, but it does translate to good business skills as well. In many ways, it finds the balance between accepting the risk, and seeing the positive outcomes of the future.