While Covid disrupted many parts of our life, it also accelerated others. Consumers flocked to online shopping sending ecommerce soaring. It also did something else—it created a new wave of mumpreneurs.
According to Karina Nagel, founder and CEO of Ecom Co, Australia like many other parts of the world, is amid a mumpreneur surge, with an increasing number of mums choosing to start up their own side gigs or businesses to pursue financial freedom in a more flexible and rewarding way.
“In the past, women who became mothers had very few choices,” she says.
“The overwhelming expectation was that they had to set aside their career goals and dreams and prioritise raising the family. But as times have changed and technology has advanced, there’s been an exciting and welcome rise in the number of women juggling both family and their own businesses and it’s changing the landscape of Australian small businesses.
“Women are good communicators and also supreme organisers. For this reason, we are seeing a significant rise in the number of mums starting up their own businesses or side gigs to generate extra income for their families. Popular business types they are launching include consulting, event planning, home-based manufacturing, retail sales, blogging and content creation,” she adds.
She shares some key tips for mumpreneurs.
Find a good accountant
“Setting yourself up from day one is very important, especially when you start a new business. This is critical in order to ensure you are operating in accordance with ATO and ASIC requirements,” she emphasises.
“A good accountant will also assist with structuring to make sure that you are minimising risk, managing your tax affairs well and also thinking about an exit strategy.”
Check out the full article in our small business feature in the latest Autumn edition.
