If you’re a single mom, you may dream of having your own business to give you more flexibility. Of course, it is possible, but single motherhood can present unique challenges for an entrepreneur.
Thankfully, several resources and programs are available to help you manage your business and care for your family. So whether you’re looking for financial assistance, child care support, or advice and networking opportunities, you’ll find something here that can help you succeed as a single mom entrepreneur.
Below are a few excellent resources to consult and explore to get you started. The more educated you are about your business’s hopes and goals, the more successful you’ll be.
The Balance Small Business
The Balance Small Business contains an extensive online library that covers topics from taxes to how to start a business at home. This is a great place to start for no cost.
Skillshare has a ton of courses available through online learning. There’s an entire section on entrepreneurship. There are a number of free classes or you can pay a fee to watch anything in their library.
Any new business will require some startup cash. However, you can look into grant options if you don’t have the personal funds to cover the costs.
Various grant programs are available, each with its eligibility requirements and application process. But generally speaking, grant money can be used to cover startup costs like equipment, inventory, and leasehold improvements.
The key is to find a grant that aligns with your business goals. You can begin your search for grants here.
Here are some options to look into:
National Association For the Self-Employed (NASE) Growth Grants
The NASE is unique because it caters to businesses of 10 employees or less. The NASE provides grants up to $4,000. Applications are awarded quarterly.
You’ll need to be a member of NASE to apply for a grant. However, there are multiple benefits to joining but research and see if it’s worth the cost to you even if you don’t receive a grant.
Amber Grants provide grants for women up to $30,000 each month. There aren’t a lot of forms to fill out, and submitting an application ($15 application fee) makes you eligible for all grants related to your business.
Cartier Women’s Initiative Award
This award aims to fund entrepreneurs from around the world who are dedicated to creating good in the world.
The Halstead Grant
The Halstead Grant is specifically for jewelry artist entrepreneurs.
Federal Pell Grants
Federal Pell Grants are awarded to undergraduate students who show a financial need. If you’re going to or back to school, it’s worth checking into these grants.
The Small Business Association (SBA) has a microloan program that provides loans of up to $50,000 for small businesses.
If you’re a minority, there are several grants and programs available that you can apply for at the Minority Business Development Agency.
Mentorship programs can provide single mom entrepreneurs with the guidance and support they need to succeed in business. These programs pair established business owners with aspiring entrepreneurs, allowing them to learn from experienced professionals.
Mentors can share their industry knowledge, offer advice on starting and running a business, and provide support throughout the entrepreneurial journey. In addition, mentorship programs can connect single mom entrepreneurs with a network of other business owners and professionals, providing them with valuable resources and connections.
Contact your local chamber of congress or public library to find a mentorship program in your area.
Funding programs provide funding for startup businesses, as well as for ongoing business expenses. Many of these programs are run by government agencies, while others are private foundations or nonprofit organizations. These programs enable women to start and grow their businesses by providing funding. In addition, these funding programs help to create jobs and boost the economy.
The Cru x Project Entrepreneur helps female founders move their businesses forward through learning, coaching, and networking.
Certainly not least, visit your local bank and see what options they have available to you for loans or funding.
Other resources for entrepreneur Single Moms:
Leapfrog: The New Revolution for Women Entrepreneurs. This book contains 50 hacks for women looking to be an entrepreneur.
SCORE Association: SCORE is a nonprofit association dedicated to helping small businesses get off the ground. They offer free mentorship and advice from experienced entrepreneurs, as well as online resources and workshops.
Beginner’s Guide to Creating a Website. If you’ve always wanted a blog or want a website to direct potential clients, this post outlines what you need to do in 10 easy steps.
Anyone can become a podcaster, you just need a little advice to get started. Check out this article if that is your dream.
There is no one-size-fits-all answer to becoming a successful entrepreneur, but there are certain things that all single moms can do to increase their chances of success. Don’t let anyone tell you that you can’t start your own business while being a single parent at the same time.
I speak from experience: not only is it possible, but it’s life-giving. Single moms don’t have to put their life on the back burner while raising their kids single-handedly. In fact, I’d argue it makes you a better mom when you’re following your dreams.