Women choose to be entrepreneurs for many reasons. Some have a passion for business, some are trying to fill a gap in an industry, some want to be their own boss. Entrepreneurship opens a lot of opportunities for people looking to start a family, as well. It can be the perfect blend of chasing your dreams and doing what you love while offering the flexibility to create the work-life balance needed for you and your family. In this article, we are diving into the topics of female entrepreneurship and how it relates to fertility and family life!
You might not think that there is any correlation between entrepreneurship and fertility, but there actually is. An article published in July 2018 explored the topic of women entrepreneurs and the role of fertility rates in impacting female entrepreneurial outcomes. They found that the effect of fertility rate is both negative and significant in influencing entrepreneurship. The study says, “However, others factors such as greater tertiary enrollment of women and higher ratios of female to male labor force participation rates can offset the negative impact of fertility rate and in fact can make the impact positive. Additionally, greater access to informal finance makes female enrollment more effective in mitigating the negative impact of fertility rate.”
A 2012 paper dove into female entrepreneurship and the management of self-employment and family life. It was a qualitative study done on 14 women in Northern Ireland to discover the motivations behind their entrepreneurship journeys, as well as the expectations and realities of their situations.
A few of the key factors in women embarking in entrepreneurship include the desire to have a better grasp on balancing work and familial responsibilities, as well as fulfilling the ambition to be their own boss. Another prominent “pull” to entrepreneurship was the desire for personal independence.
The realities of self-employment for women, although overall a very positive experience, did come with its own set of challenges. Even though it was a big draw to the lifestyle, most women how it difficult to find and maintain the work-life that they were searching for, and it caused tension and stress in their families. The paper notes, “Despite this, for all the women, the move into business ownership was something they had enjoyed and found personally and professionally rewarding, delivering a sense of achievement and control over their career.”
Even with the difficulties that entrepreneurial life comes with, all participants valued the flexibility and control that it offers, as well as the freedom to make their own decisions and choices.
If you’re an entrepreneur and have children (or are planning to have children), here are a few actionable tips on obtaining that work-life balance.
Forbes condensed tips from 24 entrepreneurs into one simple piece of advice: schedule everything. Whether it’s work, family time, or personal time, schedule it. Not only are you able to fit in everything you want, but it will prevent burnout. “We don’t realize that the more we work, the higher the chances of us running out of creative ideas and burning out,” says Sid Bharath of Thinkific. So utilize your schedule, work smart, and enjoy time with your family.
Use your family as motivation! Whether it’s the push to provide for your family or the incentive to finish work to go to the kid’s soccer game, find your angle and use it to your advantage!
Entrepreneurship offers women and families many great opportunities when it comes to having your dream career and having a flexible work-life balance to devote time to your family.