STAFF WRITER
Women entrepreneurs are increasingly reshaping the global entrepreneurial landscape, according to the women-owned Businesses1 report by the Center for Women in Business, which analyses female entrepreneurs in the US.
The report says there is a growing economic phenomenon of self-employed women entrepreneurs and small business owners.
“The same trend is evident in South Africa, with the latest GEM South Africa 2014 report revealing that opportunity-motivated Total Early-stage Entrepreneurial Activity (TEA) among women has increased from 64 percent in 2013 to 71 percent in 2014,” said Gugu Mjadu, executive general manager: marketing at Business Partners Limited, a risk finance company for formal small and medium enterprises.
“SA women are increasingly starting small businesses from home. Although some of them may be obliged to seek self-employment for financial reasons, many are being driven by the desire for flexibility and independence and the opportunity to spend more time with their children.”
She said “momtrepreneur” is a term used to refer to stay-at-home mothers who have established their own businesses.
“Some of our clients and service providers say they are more satisfied in their work as they now have the freedom to dictate how they split their day between work and their personal lives.
“Consumers are starting to buy goods and services online. This has resulted in opportunities for stay-at-home moms, who can now compete with larger companies. This shift is driving the trend of the momtrepreneur as it is now simpler and easier to start and run a business from home. As the internet and technology evolves, so will the business possibilities.”
Being a momtrepreneur isn’t without its challenges though, said Mjadu.
“Momtrepreneurs need to be able to balance the stress of managing motherhood while running a business, which can be demanding if not managed correctly.
“A strong work-life balance is especially important in this case. Entrepreneurs can quickly get caught up in the day-to-day running of a business, especially if they are the only employee and responsible for everything from administration to sales and implementation. For mothers with children, balance is even more of a challenge.”
Mjadu says momtrepreneurs should draw up a list of goals for their business and home life and keep them top of mind to remain focused. There should also be a certain amount of time for family, friends and self-indulgence.
It is also important to remember that it isn’t always possible to pursue your journey alone, she said.
“Running a business is hard work, and can mean working more hours than a regular day job. Lean on family for support and join networking groups in your area,” Mjadu said.
“These events will help you network with like-minded women, but can also help develop your business and industry knowledge, as well as provide opportunities to meet new clients and suppliers.”