In today’s economic climate, many new parents are facing a tough decision when it comes to balancing their career with childcare. With many dealing with more budget constraints than ever, it’s becoming less realistic for new parents to give up work to look after their children. The cost of childcare is also on the rise, creating a catch 22 situation where parents cannot afford to give up work, but most of their income is swallowed up by the price of daycare.
As a solution to this problem, many people who wish to become stay-at-home parents are also becoming stay-at-home business owners.
Thanks to the flexibility of new technology, home-run businesses have been on the rise in recent years – it’s estimated that 52% of the UK’s small businesses are now run from home. Parents are seeing this as a golden opportunity to stay at home with their children while running their own business and making money. There are an estimated 300,000 ‘mumpreneurs’ in the UK today, adding about £7.4bn a year to the economy.
It’s hardly surprising, as setting up a home business is easier and more affordable than ever.
We recently reported that the average start-up cost of a small business is £312, but many small businesses can be started with just a few supplies and a website which can be set up from as little as £8.95 per month with a provider such as bOnline. With such a low upfront cost, it’s easy to turn a hobby or skill into a professional business.
There are countless options for starting up a small business from home. You could continue your current career from home as a freelancer, or get some extra income from a hobby such as crafting or photography.
An eCommerce website allows you to expand your business by selling products online (whether you make them yourself or purchase them from suppliers). You can sell to anywhere in the world and sales can be made at any time of day, creating a flexible source of income from the comfort of your own home.
A stay-at-home business is ideal for parents who want to fit work around their home lives.
As well as being affordable to set up, an online business allows you to work at any time of day, there’s no need to be available 9-5. Many businesses can be managed in just a few hours a week. Others, such as craft businesses, can help you make money out of the activities you are already doing for fun in your spare time.
Running your own business is the perfect way to achieve the flexibility required to care for your children while earning an income – perhaps with the growth of low-cost website solutions the mumpreneur revolution will bring an end to the modern work/childcare dilemma for many new parents.