Managing parenting while living with a condition while launching your new business – it’s a lot for the best of us! But there are so many strategies out there to get your small business up and running while tending to your kids and taking care of yourself. Work-life balance is real – and the extra income you earn from business can go a long way in supporting both you and your family.
The U.S. Department of Labor writes that ‘entrepreneurship is a flexible route to economic independence for people with disabilities.’ How can you get started? Here are some tips, courtesy of E-City Beat.
Set Up a Business Account
Many entrepreneurs leave things like business structure and accounts to the last minute. However, it is prudent to set yourself up with a separate business bank account. This way, you’ll have your personal finances held separately from your business ones, which can reduce confusion when it comes to accounting or tax time. In addition, if you commingle funds, it could lead to losing liability protection when you’ve formed an LLC as a business entity for your startup. This will also cause you to be held personally liable for debts and lawsuits in the company name, so it is best to avoid mixing up finances.
Funding Opportunities
There are lots of grants and loans out there to help make entrepreneurship more accessible for disabled parents. Here are some of your main options:
- USDA Business Loans: Perfect for disabled Americans living in rural communities
- Assistive Technology Business Loans: This offers assistive technology loans up to $30,000
- Accion Small Business Loan: Loans range from $300-$100,000 that can be used for all manner of startup costs
- Grants: The Small Business Administration and the Department of Health and Human Services offers many grants and funds for disabled entrepreneurs
If you’re looking for more options, check out this handy resource by the Disability Digest outlining how you can go about finding the perfect grant for your needs.
Set Up a Home Office
Over half of all small businesses are run from someone’s home. By working from home, you’ll be able to save on rent and work from the comfort of your own space. You’ll also be able to set up a space that is accessible to your needs – for example, with adequate turning space for a wheelchair or reduced decor stimulus if you’re neuro sensitive. And the best part? You’ll be close by to keep an eye on the kids and keep parenting going while you get your work done.
Hiring Candidates With Disabilities
According to this report by the Bureau of Labor Statistics, about 20% of workers in the U.S. are disabled. You’d be able to contribute effectively to your community while raising the confidence, skills, and self-esteem of other disabled employees. Not to mention, hiring skilled workers to get the job done well will be critical to your success.
The best way to find qualified candidates is to look up job boards and reach out. Be sure to prepare onboarding documents and arrange check-ins with your employee to ensure they’re settling into your workplace culture.
Marketing
Getting the word out about your small business will be crucial in its success. Don’t be shy to tell friends and family and anyone else who will listen about your new venture. Networking is a great way to market and gain opportunities like potential funding, interested talent, and more through the process.
Consider digital marketing strategies for your business too. Harnessing social media platforms and running advertising through PPC and SEO marketing can give you a significant leg up. Don’t forget to market your story, too – a disabled parent entrepreneur is a unique and compelling brand narrative you can take advantage of!
Running your small business is a great way to build a better future for you and your family. And it is a fulfilling and satisfying journey that is full of rewards – both material and emotional. Use these tips to get started on your dream business today!
