Entrepreneurship and flexibility: the big trade-off for women

One of the biggest reasons why women leave the corporate world to start their own businesses is the idea of having more flexibility to manage family and household responsibilities.

In the research report “The Hidden Factors: SA Women in Business” carried out by the Sage Foundation and Living Facts, 59 per cent of respondents had bought into the promises of self-employment: being paid to do what they love; to work when they want; and to use their skills to build their own businesses rather than someone else’s.

However, the research also found that, when it comes to entrepreneurship, time is in short supply – at least in the beginning. In fact, 19 per cent of women actually returned to corporate life because a nine-to-five job gave them more flexibility than self-employment.

“Flexibility is one of the drivers of becoming an entrepreneur. However, without adequate support structures in place to manage the administration and the financial side of the business and assist with family commitments, flexibility is eroded and entrepreneurs feel overwhelmed. Corporate provides a more structured environment – with both business support internally and a more defined line between work time and home time, allowing women to better manage their roles and responsibilities,” said Marylou Kneale, founder of Living Facts.

But those who stuck it out and put in the long hours in the first crucial years of business development said the hard work is worth it.

Once their businesses were thriving, they eventually got their flexibility back and so much more, such as financial independence, a sense of purpose and an important role in growing South Africa’s economy and empowering other women.

“Many women don’t realise how much time goes into starting and running a business and, often, a corporate job actually gives them more time to spend with their families. Many would-be entrepreneurs find it difficult to strike that balance between work and their personal lives.

“Changing gender stereotypes of who does what in a family and women overcoming their own reluctance to ask for help are key changes that could encourage female entrepreneurship,” said Joanne van der Walt, from Sage Foundation.

Those who have found the sweet spot between entrepreneurial success and flexibility said the secret is time management and prioritisation.

They offered the following advice to women who are considering venturing out on their own:

• Focus on your core business and delegate the rest. If someone else can do something better and cheaper than you could do it yourself, outsource it.

• Buy time by automating as many business processes as possible, such as billing and accounts receivable. Streamline payments and accounting processes with reliable, secure online solutions.

• Don’t be afraid to ask for help. Lean on your support network to help manage the household responsibilities. Arrange a carpool with other parents; ask your partner to hang the washing up or cook dinner this week. Everyone wants to see you succeed. Let them help you do that.

When you realise your dreams of becoming an entrepreneur and when your empire starts to take shape, it will be so worth it.

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