Anyone can head up their own enterprise.
If you’re looking for some extra income there are lots of ways to start generating cash in today’s fast moving digital economy. Women keen to get a small business off the ground have plenty of choice.
Why do you want to start a business?
It’s always a good idea to go into launching a business with your eyes open – what are your motivations and what are you hoping to get out of your efforts? These are some of the most common reasons for small business ambitions:
- Earning a second income
- Quitting a job to look after the children
- Big ideas with which you want to change the world
- Giving something back to society
- The burning desire to be an entrepreneur
How to find the right business for you
Running a small business isn’t as simple as it seems – it can be long hours, lonely and filled with constant obstacles and disappointments. However, if you’ve picked something you’re passionate about, or you love the product you’re making, then you’ll have the a much easier time staying motivated. So, how do you make the right choice?
- What are you good at doing? Identify your strengths or hidden talents
- Do you have a hobby you could convert into a business? Everything from dressmaking to writing can be monetised
- How do you want to spend your time? If being outside makes you happy then anything in front of a screen isn’t going to be a good idea
- What startup capital do you have? Some businesses need more up front cash than others – anything involving making a product, for example, will need some initial investment so you have to carefully consider how much debt you are willing to take on if you don’t have enough capital; and where that funding will come from. Getting a loan from a bank is no longer as easy as it once was and it may make more sense to use a loan broker such as Solution Loans to help you see what your best options are for borrowing money.
Business ideas for inspiration
The right business is usually a combination of practicalities and passion – here are a few small business ideas that many have made work.
Dog walking/dog training – ideal for those who love being out in the fresh air and working with four legged friends.
Food and catering – are you passionate and talented with vegan food? Can you make incredible cakes? Test out your ideas on friends and family and if the response is positive you may have a market.
Fashion – establishing your own fashion label takes a lot of up front investment. However, a fashion business can be anything these days, from drop shipping others’ designs to providing daily lookbooks of inspiration and telling others where to source designs from.
Professional skills – if you have professional accounting qualifications, for example, but gave up work to look after children then restart your business on a smaller scale and just work to the hours that suit you.
Manual tasks – always wanted to be a builder or a plumber? These are businesses that you can start with some basic training and there is an increasing market for women service providers. Take inspiration from those who use their gender as a marketing tool (e.g. the “Plumbingbird” is a female-only plumber service in Hampshire, UK).
Writing – if you know words are your strength then turn them into your business too. From website copywriting to ad copy and novels there’s a big market out there for wordsmiths.