Running a Business as a Single Parent

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There’s lots to consider when you’re running your own business, but throw single parenting into the mix and this puts a whole new spin on things.

It usually means double the workload and double the pressure.

Whether you already run your own business and have suddenly become a single parent, or you want to become self-employed because you’re a single parent, or you’ve been going solo on both for a long time, there are many successful examples of this kind of entrepreneurship to be inspired by.

Yes it’s going to be hard, but it is possible to succeed – it just requires you to be super organised at keeping all of those many balls in the air.

For some single parents, self-employment will actually be the preferred choice as it can be easier to fit around all the other commitments you’ll have, such as children being ill, appointments and the no doubt endless list of clubs, activities and birthday parties they need taking to.

On the downside though, are considerations such as the potential for fluctuating income, compared to being in employment, and not being paid for time off.

With that being said, here are some of the main things you might want to consider about running a business as a single parent.

Finances

Running a business can be risky, especially if you haven’t got a second stable income to rely on in the household. This means it’s more important than ever to budget and plan for rainy days. Consider how you will make ends meet if you need to be home with a sick child, or if you want to take your children on holiday – and of course if you’re sick or suddenly can’t work for any reason. Make sure you have back-up plans in place.

Benefits

Depending on how many hours you work and your income, you may be entitled to extra support from the Government. This could be in the form of Universal Credits, or free childcare. For example, all three and four-year-olds, and some two-year-olds, in England are entitled to 15 hours of free childcare a week, for 38 weeks of the year. Some are even eligible for 30 hours, so it’s worth checking on Gov.uk for more information.

Organisation

With so many balls and tasks to juggle, organisation is key. Whether you use electronic diaries, apps, or good old fashioned pen and paper, comprehensive to-do lists are going to be crucial to you managing all the tasks involved in both work and home life. Time is precious, so you’ll want to make best use of it. ActionCOACH has many tactics and techniques to help you work smarter and achieve growth in your business.

Support

Having support in place is also going to be key to your success – and your sanity. It could be that there’s another parent on the scene which leaves you with ample time to focus on your business, or the opposite could be true. Whether you call on family, friends, or an employed childminder, there will likely be times when you need to ask for help from others, and you shouldn’t be afraid to do that.

Making time

When you’re self-employed, and the sole earner in a household, you might feel twice the pressure to bring the money in, but it’s also twice as important for you to be there for your children. Anyone who runs their own business knows how hard it can be to switch off, but try having set times in the evening when you down tools, or focus your work around times when the children are in bed, with their other parent, or at school. Don’t beat yourself up though, you are also setting an important example to your children about working hard to succeed in life.

Seeking help

One potential downside to running a business as a single parent can be the lack of another person, be it a spouse or a work colleague, to bounce ideas off. This is where ActionCOACH comes in. If you feel you’re too entrenched in the business to see the wood for the trees and need some help to get focused, or you just want to talk things through with another professional, we can help. We also run various events and workshops where you’ll be able to meet like-minded business people who will quickly become part of your extended network.

Contact your local ActionCOACH to find out more.