For mums wanting to start a business, research shows that juggling the family is a bigger barrier than funding the business.
Mums in business often don’t get enough credit for their entrepreneurship.
New research by St.George Bank reveals nearly one in two mums (43 per cent) are motivated to start up a business in order to spend more time with the kids, followed by the desire to have more freedom and flexibility (27 per cent) or to work for themselves (15 per cent).
The survey by the AusMumpreneurs network—Australia’s leading network for mums in business—found that while kids and family remain the top priority for mums, balancing a business with raising a family is still the biggest barrier to starting a business (60 per cent), well ahead of drawbacks such as limited access to funding (28 per cent).
Despite the balancing act, only 11 per cent of mums said lack of support from their family prevents them from reaching their full potential. Close to half (46 per cent) admit to being afraid of failure as the main barrier, followed with being pigeonholed as a mum instead of being recognised as a business owner (23 per cent).
The key theme throughout the research is that mum entrepreneurs work very hard, sometimes 24 hours a day, and it can be a real balancing act with two jobs. It is important we support mums and equip them with the tools they need to succeed in their business while maintaining a healthy work-life balance.
To help take some of the load off business mums, St. George Bank has compiled a list of top five tips for balancing family and business:
Organisation is key
Don’t wait for the perfect work-life balance to appear, you have to create it. Plan, prepare, create a routine, and write to-do lists and work-in progress lists that will help you keep on top.
Accept or seek a helping hand
Asking for help from your support network goes a long way to ease off the pressure.
Join in play time
Make the most of family time and join in the play. Jumping on the trampoline or engaging in games can get your creative juices flowing or release stress.
Get tech savvy
Learn more about smart technology to maximise your time such as setting up calendar reminders, holding client meetings via Skype, or banking via an app.
Make ‘me’ time
Working 24/7 means you’ll eventually burn out. It’s important to take care of yourself in order to take care of your family and your business.
Call 3235 6701 to discover how St.George can help you get ahead for 2015.