International Women's Day is almost here. On March 8, 2014 nations around the world will celebrate the economic, political and social achievements of women.The number of women starting and running their own business has typically lagged behind men. During the last 20 years the tides have been changing and the number of women starting home-based micro businesses (five employees and less) is surpassing men. In fact according to data released by the US National Federation of independent Business, women will create more than 50% of the new small business jobs from home offices expected to be created by 2018.
So what exactly is attracting women to starting home-based businesses?
Starting a home-based business has rewards as well as challenges. For many, the rewards such as personal freedom, performance-based income, increased productivity and tax advantages outweigh the challenges.
Personal freedom
In 2013 a report revealed that almost 2 million Britons spent three or more hours travelling to and from work. The number of 'super commuters' who spend more than 90 minutes commuting to work each day has risen in the UK by 50% in the last five years. Working from a home office obliterates any time travelling to and from work and is a preferable scenario for many. Without the time and expense of travel, starting a home-based business immediately frees up more time for women to spend with their children and family.
What's more, with no dress code, dicey office politics and demeaning bosses looking over their shoulder, women with self-discipline, personal drive and time-management skills can thrive in a home office environment.
Work hard, play hard
Unlike when you're in a paid job where you get a salary regardless of your daily productivity and much of your efforts line the bosses' pockets, with a home-based business your earning is directly related to your performance. Generally speaking with a home business, the harder you work, the more money you generate and the harder you can play – A desirable position to be in for many modern women.
Working from home does now require you to be isolated. Now more networking and facilities to rent desk space in a proffessional environment are available as well as virtual office packages. Opting for co working space is proving more and more popular as the need for flexibility enables busy individuals and new businesses the practicality and proffessionalism of a full time office.
Millennial women crave independence
In a hotly debated post, Forbes writer Meghan Casserly spoke of how millennial women crave independence. According to Casserly, there are Gen-Y women who “either don't even consider the corporate track or burn out early in the corporate world and pursue entrepreneurship.”
The earliest Women's Day observances were held on May 3, 1908 in Chicago. What followed was a century-long fight for equality for women in the workforce. Like the suffragettes of the early twentieth century, the organisers of that first Women's Day would be proud of the homeworking female entrepreneurs that are increasingly choosing to swap unpredictable corporate office politics and long commutes for inventive home-based enterprises.
With International Women’s Day approaching, what are your thoughts and experiences about entrepreneurial millennium women? Are women wise to be giving up the corporate ladder in favour for starting their own homeworking ventures?