Working moms transforming into great Entrepreneurs

The pandemic year 2020 had a huge impact on people’s personal and professional life. It was problematic for working parents. It was an extremely difficult job for parents to manage both; job and childcare. According to the U.S. Census Bureau, when the pandemic started raging 19.6% of working adults had to stop due to disruption in their childcare activities.

According to a Washington Post report, almost every one in four women who got unemployed during the pandemic was due to lack of child care activities, which is far less as when it comes to men. Therefore, working mothers were on the receiving end of the problem. Working women of age 25-44 are almost three times more likely to quit their jobs during the pandemic due to lack of childcare when they are not around.

As we know everything has two aspects to it, we do have some advantages attached with the problem. Entrepreneurship is one such thing, it helped people in unsaid ways and has helped moms too. The pandemic couldn’t stop people from starting new businesses. According to the previous year’s data, it has been noticed that more than 4.3 million Employer identification numbers or Tax IDs were submitted with the tax department which enabled entrepreneurs to establish their bank accounts for business purposes that are necessary for hiring workers. Tax IDs helps in preparing those who are willing to start small organizations or business and finding their way in entrepreneurship.

Sometimes countries having a broad economy fails to support earning women and mothers, in that situation they could find their way in becoming their boss i.e., entrepreneurship. This provides them with essential flexibility and self-rule within their professional track. Let’s take a glance at what places working women/moms for triumph as entrepreneurs

Self-employment is the key; this enhances the skill of taking control of your future while making you independent.

A report was released by Ewing Marion Kauffman Foundation in February 2021 popularly came to be known as “Economic Engagement of Mothers: Entrepreneurship, Employment, and the Motherhood Wage Penalty.” This report was based on supporting mothers and ensuring them the opportunities to contribute to the economy. Additionally, it focused on how entrepreneurship can help with it.

Why mothers are keen to become entrepreneurs?

According to a report, it has been seen that almost every working mother chose entrepreneurship in the past few years, they have a lot of motivation in their life, but the two main motivations were common in almost every woman. They wanted to be their boss and work when they want, no one’s going to rule them and the second one was the money factor. They wanted high standards of living and to generate more money.

Everyone wants to be independent, be their boss, and make their future as they desire, these factors influence women to choose entrepreneurship as their career option and start a business, mainly during the pandemic.

When burnout has been affecting almost all workers, from the frontline workers to remote workers, no one was spared. The hopelessness seen on the face of working mothers was heart-breaking, left with no other choices they were forced to make impossible decisions that affected their mental state and kept them in the feeling of powerlessness and desolation.