Over half of entrepreneurial moms in the U.S. think running a business makes them a better parent despite the heavy workload, according to new research by Vistaprint.
The survey of 500 American moms who run their own businesses found that 56 percent feel entrepreneurship is good for parenting. Almost every business-owning mom polled (94 percent) said they believe running a business leaves a positive impression on their kids, teaching them important qualities such as work ethic, responsibility, leadership, commitment and self-confidence. And nine in ten business-owning moms (89 percent) also think they’re inspiring their children to be future entrepreneurs themselves.
To recognize entrepreneurial moms and everything they do, Vistaprint recently filmed these moms with their kids talking about the reality of being a parent and business owner. The video sheds light on the work-life balance challenges these moms face, but also shows how much of an inspiration they are to their children and any aspiring entrepreneurs.
“We often hear business owners refer to their company as their ‘baby’. It’s something you are responsible for creating and, like any child, it requires love, nurturing, almost constant attention and a lot of hard work”, says Vistaprint CEO Trynka Shineman. “It makes sense that the skills you develop from one role complement the other. But balancing motherhood and business ownership takes remarkable strength and dedication, so we want to recognize our country’s entrepreneurial moms for the amazing work they do.”
Being a business-owning mom requires a careful balancing act, as the survey also highlighted how difficult managing work-life balance can be. Entrepreneurial moms who work on their businesses full-time have an average workload of 54 hours per week, with over one fifth (22 percent) of them working over 60 hours per week.
Due to this workload, family time can be hard to come by as a business-owning mother. Nearly eight in ten (76 percent) entrepreneurial moms say their kids complain about them working too much, while the same number say they feel guilty about not being able to spend more time with their family and children.
The study uncovered some of the other biggest challenges entrepreneurial mothers face trying to keep a business running while raising a family. Stress is hugely significant, with 47 percent reporting it’s one of the biggest challenges they come up against. Other challenges high on that list were financial pressures (36 percent), lack of a stable salary (34 percent), lack of time for personal interests (33 percent) and exhaustion (31 percent).
So, what leads moms to take up the dual role of CEO and parent?
Only 35 percent of the entrepreneurial moms polled said they started their business for money, according to the data.
There may be a bigger workload but results show flexibility is the dream for many a parent. 62 percent of moms report that flexible working hours was one of the top reasons for starting their own business. This was followed by being in charge of their own destiny (51 percent) and financial independence (44 percent). 39 percent even say their children inspired them in some way to start their business.
Notes to editors
The top 10 biggest challenges entrepreneurial mothers face:
Financial pressures (36%)
Lack of a stable salary (34%)
Lack of time for personal interests (33%)
Long hours (25%)
Finding time to run a successful business (24%)
Finding time for my children (22%)
Weight of responsibility (22%)
Lower earning potential (15%)
To see the Vistaprint video of entrepreneurial moms with their children, click here.
About the study
The study is based on a survey of 500 American moms who run their own businesses with no more than 10 employees. The survey was carried out by OnePoll, ESOMAR member, on behalf of Vistaprint.