Factors Parents With Disabilities Should Consider Before Starting a Business

For those seeking a better or more fulfilling career, entrepreneurship is an excellent option. Parents with disabilities may find that owning a business offers the versatility required while juggling parenting and healthcare needs alongside a profession. Flexible work hours, business scale, and the ability to choose the nature of the tasks you perform are promising benefits. If you’re considering self-employment, parents with disabilities should consider these four factors before starting a business

1. Funding

Entrepreneurs with disabilities can find a variety of funding resources through the federal and state governments and private and nonprofit entities. You can search online for lists of small-business grants; check back regularly if you don’t find one, as these lists can be updated.

There are programs available if your business is already established, and you are a service-disabled veteran. The government allocates 3% of its federal contracting dollars to small businesses owned by service-disabled veterans.

Another resource to consider is the Association for Enterprise Opportunity. It offers access to capital to low-wealth and underserved entrepreneurs.

There are, of course, more ways to get funding for your startup and, by extension, ensure a positive cash flow as you run your business. Idea to Plan has the business and financial planning services you need to hit the ground running.

2. Marketing

Once you’ve identified your target customers and determined how your business benefits them, you need to find out the best way to reach them. At the beginning stages of running your company, marketing may involve trying several approaches until you learn what works for you. 

An online presence is a necessity. According to Fundera, 81% of consumers research a product online before making a purchase. Ways to develop your online presence include:

• A professional, well-designed website
• A social-media game plan
• Search engine optimization
• Paid ads and promotions

While marketing online is essential, you can also use traditional methods such as radio, television, and newspaper advertising, direct-mail postcards and brochures, and trade shows.

3. Quality Child Care

Entrepreneurial parents of all abilities need to know their children are in a safe, loving environment while they work. You may need additional child care for medical appointments or therapy. Regardless of the reason, quality care is a must.

Each state provides different support resources regarding child care, so learning what’s available to you is essential. Find out answers to questions such as:

• Licensing requirements in your state
• Early learning programs
• Background check requirements
• Facility quality ratings

You may also find support through a peer network. One example is the National Multiple Sclerosis Society’s parenting resource. Online, you may discover other regional or national organizations specific to your circumstances. If you need emergency child care, you may find a crisis nursery or faith-based organization in your area that can help.

4. Continuing Education

Business skills are a must for any entrepreneur. Enrolling in an online MBA program presents you with the opportunity to grow your skills while balancing your obligations to family and business.

In an online MBA program, you can acquire expertise in:

• Accounting: Managing your money by recording income, expenses, and financial information from your transactions
• Strategic planning: Identifying your customers and how you will serve them
• Human capital management: Hiring, developing, and optimizing the right talent
• Corporate finance: Funding your company while maximizing profits and minimizing costs

Business ownership can be an appealing alternative to traditional employment, especially for parents with disabilities. Entrepreneurship can offer you and your family the flexibility you need while helping you meet your financial and personal goals. With planning and consideration, you can enjoy the benefits and satisfaction of owning a business by using these four Factors parents with disabilities should consider before Starting a Business.

 

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