38% of millennial mothers plan to start their own enterprise

Wednesday 19 October 2016

Over half (54 per cent) of millennial mothers who return to the workplace find juggling life in traditional employment and raising children difficult to adjust to, according to new research by Nominet.

Nominet, which runs the .uk domain, found that 38 per cent of millennial mothers had established plans to start their own enterprise, as they found the typical 9-to-5 job was unsuitable for them and their work-life balance.

Some 17 per cent stated they had plans to start up their own business in the next 12 months, while over one in five had plans to do this within the next five years. Many said this was in order to attain a good work-life balance and spend more time with their children.

In fact, some had even started to prepare for starting a new business by undertaking research and networking. Around 20 per cent of millennial mothers had already carried out market research and 13 per cent had drafted up a business plan.

The report also found that eight per cent of participants in the survey had already managed to get their own business up and running from home.

The majority of millennial mothers in the study who had started up their own enterprise - or had plans to set one up in the future - cited common reasons for doing so.

These included avoiding the expensive costs of childcare, spending more time with their children, having total control over their working schedule and entering alternative career routes.

The report stated that 78 per cent of millennial mothers said flexibility and control over their working schedule was the main reason for choosing to be their own boss, while 89 per cent cited expensive childcare costs.

Pursuing career alternatives to the traditional working world - which is sometimes not favourable towards motherhood - as well as having the ability to hone creative skills seemed to be common themes too. Another reason was the desire to gain confidence and self-belief through running a business.

In response to the statistical findings, Russell Haworth, CEO of Nominet, 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.”

The findings from the report also represent the growing number of ‘mumpreneurs’ in the UK. According to figures published by the Office for National Statistics (ONS) in 2016, more than 800,000 women and mothers in the UK run an enterprise, and this trend is set to continue over the next few years in line with the rise in technological advances that enable people to work from home.

By Victoria McDonnell

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