Success in business can be achieved against all odds if business ideas are well formulated
The continued success of so-called ‘mumpreneurs’ is a key indicator of how being successful as an entrepreneur is possible even with hectic and busy lifestyles, if aspiring businesspeople ensure they plan and execute their ideas in the right way. This is according to awarding body and global non-profit organisation ABE.
Figures released by the Office for National Statistics earlier this year have shown that there are now over 800,000 women and mothers setting up their own businesses part-time from home in the UK.
In addition, a report from economic think tank Development Economics has stated that businesses run by mothers with children aged 18 or under generated £7.2 billion for the UK economy in 2014 alone. These statistics offer clear evidence that entrepreneurial success can be achieved alongside other responsibilities, if people take the time to learn how their chosen market works before carefully formulating their business plan to suit.
Gareth Robinson, CEO of ABE, said: “Striking out as an entrepreneur presents a series of challenges, regardless of a person’s individual circumstances. Work, family commitments or financial limitations can often impact on a budding entrepreneur’s desire to get their idea off the ground. But the ‘mumpreneur’ revolution shows that with good planning and effective financial management, being successful as a businessperson is very much a possibility.
“However, no aspiring entrepreneur can expect to march into the world of business and become a success without a well-honed business plan. An idea has to be properly thought through, and the market analysed to make sure the proposed new business has the potential to make a significant impact. Being an entrepreneur takes a certain amount of natural flair; that much is certain. But for many, more formal guidance will go a long way towards unlocking their potential and refining their business idea into a viable, marketable concept.”
Robinson believes that entrepreneurs can receive this expert guidance and tuition by pursuing formal business start-up qualifications, which can help candidates formulate their ideas into actionable plans.
He concluded: “The new ABE Level 3 Certificate in Business Start-up enables those with an entrepreneurial leaning to develop their ideas and learn more about the world of business in a challenging yet secure environment. Making ideas concrete is crucial to getting any successful business started, and this is a key part of what the new qualification aims to do. It can be followed on either a part-time or full-time basis, meaning it can be tailored to suit the most hectic of lifestyles, and that no entrepreneur need go through life with their potential unfulfilled.”
The ABE Level 3 Certificate in Business Start-up will be available from September 2016.
Gareth Robinson is CEO of the Association of Business Executives (ABE)