A report from Nominet revealed that 38% of ‘millennial mums’ – mums born between 1980 and 2000 with a child under four years old – plan on being their own boss, with 17% anticipating to set up their own business within the next year.
The report also shows that one in five (21%) of those surveyed expect to become their own boss within five years and one in twelve (8%) already own their own business.
Flexibility a main priority
The change in career paths post-pregnancy is largely due to a need for flexibility, which traditional employment is unable to offer, as 78% say the main reason for choosing a different career is to be able to control their own working hours.
54% of new mums struggled returning to the 9 to 5 workstyle after maternity leave and 22% admitted the rigid structure made them feeling uneasy about working again.
While many returning to traditional employment use a form of childcare to help with unforgiving work hours, 71% feel guilty about leaving their child in someone else’s care. Costs of paying for childcare are another reason new mums are deciding to become their own boss, as 89% list it as their number one financial concern on returning to work.
Maternity leave as the ultimate preparation
It’s not just accommodating hours that have hopeful ‘mumpreneurs’ believing becoming their own boss is the right move. 94% believe that the skills they’ve gained during maternity leave, such as time-management, multi-tasking, forming relationships and keeping calm under pressure, give them an edge against the competition.
CEO of Nominet, Russell Haworth, said; “I think that we’re seeing an entrepreneurial shift in the UK workforce – and women with young children are at the forefront.
“There is real enthusiasm amongst millennial mums to be their own boss to ensure they can achieve the all-important work-life balance, while still generating an income to support their growing family.”
Commenting on the ease of creating your own business, Haworth noted, “Advancements in technology mean it’s never been easier to set up your own business online and to quickly develop a space for yourself and your ideas making it more viable to abandon the traditional nine to five and embrace entrepreneurship.”
Are you a ‘millennial mum’ set to start your own business this year? We want to hear from you! Leave a comment in the section below and share your experiences and future plans.
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