Have you been impressed by the Mumpreneurs you have seen on TV or in the news? Would you love to be able to run your own business, and build a work life balance to suit your needs? Here's our guide for working parents who might like to become Mumpreneurs!

Working parents

Many mums and dads are stuck in inflexible jobs, and short of time for their family and themselves. But at the other end of the spectrum, there are parents who would love to work and earn some money but can’t find an opportunity with the right hours to fit with the kids.

Below are several things to consider that may indicate whether this role is right for you.

Look at your budget

Work out an ‘essentials’ budget, to show how much it would cost you to give up work. Remember that you won’t spend as much money on fares, lunches out and clothes. If you are expecting a baby, look at other things that may change: you might go out less often once you have a new baby, but babysitters can add to the cost of the evening when you do get a break. Think about the cost of childcare: if you work for yourself you may need less childcare than if you have an office job. Some work at home mums slot in work during evenings and nap time and get all day with their children while others swap playdates to get things done.

Check your rights

You may want to start a business gradually, keeping your paid job and fitting in the new enterprise on evenings and weekends. Or, you may decide to work part time and start the business part time. You have the right to ask for flexible work if you have a child under 6, or a child under 18 with special needs. These rights will be extended to all children under 16 in April 2009. Your boss has to consider your request and can’t refuse outright. He or she has to base a refusal on one of the following grounds:

• Burden of additional costs
• Detrimental effect on ability to meet customer demands
• Inability to reorganise work among existing staff
• Detrimental impact on quality
• Detrimental impact on performance
• Insufficiency of work during the periods the employee proposes to work
• Planned structural changes

Do you have any ideas?

It can be hard to come up with a great business idea. Talk to friends and family about what is missing in your local area, or look online to see if you can find a gap in the market. The more ‘niche’ your business, the easier it will be to promote and grow. See www.familyfriendlyworking.co.uk for ideas about different areas of work that fit in well with the family.

Seek advice

If you want to know the ins and out of setting up a business, sign up for the free e-course at www.themumpreneurguide.co.uk. The course comes direct to your computer every few days and is specially designed for mums. It covers issues from business planning to childcare, finances to setting aside time for you. It is a great way to get your new business a head start.

Related Articles:

If you're looking for tips for working parents, or specific help on achieving the work life balance, we think you'll like the following articles.

Working Parents: Tips on Flexible Working

Working Parents: Tips on How To Cope!

Attaining the Work Life Balance