Starting a business can have it’s challenges. Especially if your a parent. Isit do-able?

When some women become a full-time mother, that is when they actually cease an opportunity to get creative and finally make the decision to set up their own business. With the main advantage being able to work from home, and a close second being flexible hours around caring for the baby and/or children, many women see it as a win-win situation.

There are several things that mums who are starting their own company need to consider, here are a few things that need to be worked through in the beginning.

Funding and Finances-

What will your start up costs be? Do you have money to put into this yourself or will you need to acquire a loan or third party funding?  Another thing to work out in the initial stages is what your overheads in running costs will be, and how much turnover you will need to generate in order to break even.

 

Contacts and Networking-

Write a list of who you will need to help you make a go of your business, this will give you an idea of the type of people and places you will need to frequent in order to meet those necessary business contacts.

Your Market –

One of the most important things you can do when setting up your own business is market research. You will not only need this to help you work out your business plan, but any potential investor will want to see that you have thoroughly researched your market.
In the initial stages of setting up a business there are many useful resources online that you can make use of for information, the main ones being the HMRC website, and the Business Link website. Most towns have a Business Gateway that you will be able to physically visit and access seminars, workshops, and also book an appointment to discuss your plans and get help with grants and other such details.