The rise of the mumpreneur

article by Virgin.com

It is a stark fact that many women find it really difficult to return to work after taking time out to have children. No matter how good their qualifications or experience, the impossibility of finding a job which is both flexible enough to allow them to be able to combine it with bringing up children but yet which pays enough to cover childcare costs can be overwhelming....

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What’s more, many women lose their confidence after taking several years out of the workplace and start to question whether they will be up to the task and whether they will be taken seriously. It is perhaps hardly surprising that so many intelligent women, many of whom held down fantastic jobs before they had children, simply give up on their attempts to get back into the workplace.

I know so many incredibly bright women who had demanding high powered jobs in the City and elsewhere, before they had children, who want to go back to work now that their children have started school. But they have absolutely no idea how to go about it. Their former careers are often not an option because they would require a full time commitment and long hours, and yet they lack the knowledge – and confidence – about where else they might fit in. Few careers, particularly in the corporate world, allow for a three or four day working week, or for someone who wants to leave at 4pm every day. Although I offer many people the option of working a four day week and the opportunity to work from home, so there is some flexibility, but I am also very sympathetic to other companies who say that someone needs to work there full time.

Image by Andy Lo Po

One route pursued successfully by many women is to stop trying to fit back into the corporate world and start their own business instead. Over the past few years it’s a trend that has really gained momentum.  The number of self-employed women is rising at nearly three times the rate of men. The number of female entrepreneurs has increased by 9.6 per cent during the past two years, compared with a 3.3 per cent rise for men, according to the Office for National Statistics.

Of these, an estimated 300,000 are ‘mumpreneurs’, according to Mumpreneurs UK, contributing £7.4bn to the economy each year. This can work brilliantly and many successful businesses are born this way, but this is no easy solution either. Women rightly worry about the huge commitment, both financial and time, it will involve, fearing that they might end up having to work seven days – and nights – a week to make it work. They also worry whether they have the skills to make it happen, particularly if they are entering a new area.

In fact a woman who previously held down a serious job in the city, for example, is probably more than capable of setting up a small business and already has many of the skills needed. 

But it is still a huge commitment. If a woman tells me they intend to run their business from 9am to 3pm while the children are at school, I have to tell them I am doubtful they will be able to. Yes, they will still be able to collect their children from school, but if it is half-decent business idea they will be working till midnight every night because there are not many businesses which run themselves.  

But not everyone wants to go down that route so what about the army of mums who want to return to the workplace and continue to pursue their careers. We are talking about a whole generation of talented women who thought they had found the perfect balance by pursuing a career before taking time out to look after young children so that they could return to it at a later date, only to discover that actually they can’t. They are stuck and they need our help. 

The real answer is for women to start helping each other.

So what’s the solution? More employers offering at least some form of flexible working would be a start. But the real answer is for women to start helping each other, and for those already in work to be more supportive of those seeking to return to the workplace or start businesses of their own. I mentor women who want to return to work and it is wonderful to be able to help someone get their confidence back.  

Let’s not kid ourselves. There is no magic wand. But there is still a great deal we can do to improve the situation. So let’s get out there and start offering a guiding hand. Because ultimately it will be beneficial for everyone - for our society and our economy - if women are able to return to the workplace and put their skills and abilities to good use.

Source: https://www.virgin.com/entrepreneur/the-rise-of-the-mumpreneur