I Want To Start My Own Business But Worried About Money

Dear The Careers Clique,

I am the mother of 2 young girls. My youngest is 5 and is about to start school in September. I have been a stay at home mum for the last 6 years but we have decided as a family that I will return to work in some capacity. Before I had my children I was working in marketing however I now want to retrain and I am planning on retraining to become a teacher. The plan is to start my course in 2022. However in the meantime, I want to start a new business. I’ve read alot about side hustles and I would really like the chance to make some extra money now that both children are in school.

However I am stuck for ideas. I want something that is flexible. Something I can do alongside my course and school drop offs/pickups. I also want something that has relatively low startup costs. We do not want to use our savings or take out big loans to start.

Thanks

Confused

Dear Confused

Congratulations on making the decision to not only return to work but to also start your own business. You have been out of the workplace for sometime so making the decision to return is a brave decision. Teaching is a very popular option amongst working mothers. You can fit it around your childcare responsibilties especially during the school breaks.

Starting your own business in the meantime is a great plan. Not only will it bring some money into the business , it will help prepare you for your retraining in 2022. Your new business will require some time management skills, IT skills, admin and much more.

There are many small business ideas that are well suited to working mothers in your position. These include tutoring , selling online or blogging.

Of course whilst having a passion for something should help you decide on a business idea,it won’t be your only consideration.

The main concern will be around funding. How will it be funded? Will you take a loan out or use savings? Understandably, for many people, neither of those options are particularly appealing.

However , whilst funding is a concern for you, it does not have to be a show stopper for you. Many of these business ideas need little or no startup capital.

As with everything research is key. Look into each area. How will it fit into your family? Do you have the skills? What are the startup costs?

With the right planning and research you will be able to start a successful business!

Let us know how you get on. We love to hear about success stories from our readers.