‘Mumpreneurs’ are experiencing continued success, with businesses run by mothers with children aged 18 or under generating £7.2bn for the UK economy in 2014 alone.
This is according to a report from economic think tank Development Economics, which shows that entrepreneurial success can be achieved alongside other responsibilities, if people take the time to learn how their chosen market works before carefully formulating their business plan to suit.
ABE’s CEO Gareth Robinson said: “Striking out as an entrepreneur presents a series of challenges, regardless of a person’s individual circumstances. Work, family commitments or financial limitations can often impact on a budding entrepreneur’s desire to get their idea off the ground.
“But the ‘mumpreneur’ revolution shows that with good planning and effective financial management, being successful as a businessperson is very much a possibility.”
Robinson believes that entrepreneurs can receive this expert guidance and tuition by pursuing formal business start-up qualifications, which can help candidates formulate their ideas into actionable plans.