New mums mean business
| Published: 8th December 2007 07:53 |
More and more mums are starting up their own businesses from home.
Juggling motherhood and a career has become the norm for most women. Despite measures in place to make this easier, such as flexible working and childcare vouchers, many women find themselves struggling to work under an employer. In a bid to take complete control of their working and personal lives, more and more are choosing to start up a business while their children are young.
Research by Tesco Business Credit Card shows that becoming a mum is one of the most common incentives for women to start up their own business. The study suggests that many women have had enough of juggling the demands of working for an employer while still being a good mum, so they decide to go it alone. The study shows that turning a hobby or pastime into a commercial enterprise is one of the most popular ways of launching a new business for mothers.
Sue Hayward, presenter of Sky TV's Women in the Property Market and author of Women Leading, comments, "For many women, the late-night cry of a newborn baby awakens an entrepreneurial spirit.
"We're seeing a wide array of new businesses emerging, quite literally, from the nursery, into the open market."
One of the most famous examples of mothers turning to new crafts is the author JK Rowling. She began writing the first Harry Potter book during rare free moments sat at a café table following the birth of her first child.
The findings of Tesco's study found that optimum flexibility, enabling mothers to combine work with family life, is the most common reason for women deciding to set up on their own. Men, by comparison, become self-employed because they want to earn more money.
Women set up new businesses at a younger age than men, typically between 25 and 34, compared to 34 and 45 for men.
A woman is most likely to start up a new business after the arrival of a first child, but the chances of her starting a business diminish dramatically with each subsequent addition to the family.
A regional breakdown shows most of the new businesses established by women this year will be in the South East of England, East Anglia, London and the East Midlands.
Scotland, the North East, Northern Ireland and Wales have the lowest numbers of new businesses set up by women.
Monica McCormack, spokesperson for Tesco Business Credit Card, comments, "Our study suggests that new mothers may be having a bigger impact on the dynamism of Britain's economy than anyone previously imagined.
"They appear to be a powerhouse of creativity, which is only to be encouraged."
However, despite women's growing entrepreneurial success, two thirds of the new businesses surveyed were set up by men. Women also fall behind in the earnings stakes with men likely to enjoy an annual turnover of £75,000 compared to less than £50,000 a year for women.
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