New business for new Mums
Recent research conducted by Tesco Business Credit Card reveals that becoming a mum is likely to be the most common incentive for women to start up their own businesses. Juggling the demands of working for an employer while still being a good mum inspire many women to go it alone.
The flexibility of combining work with family life is the main reason given by women for setting up on their own. Men in the other hand opt for self employed careers as a means of earning more money. Women typically set up their own businesses between the age of 25 and 34, while their male counterparts set up business between the age of 34 and 45.
Women are most likely to start up their new businesses after the arrival of their firstborn and the chances of starting a business lessen dramatically with each additional child born. According to the research by Tesco Business Credit Card, men are more likely to earn more from their businesses.
The research reveals that most new businesses started up by women will be in the south east of England, East Anglia, London and the East Midlands. Scotland, Northern Ireland and Wales have the fewest new businesses started by women.
Monica McCormack, spokesperson for Tesco Business Credit Card, said: ‘Our study suggests that new mothers may be having a bigger impact on the dynamism of Britain’s economy that anyone previously imagined. They appear to be a powerhouse of creativity, which is only to be encouraged.’
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