Saturday, February 26, 2011

Mamapreneurship for women

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Mamaprenuership

What happens when you have put out the C.V,searched for quality childcare and still nothing?or got up at 5a.m to wake up your toddler for nursery?. Or if the childcare costs are so high it means almost all your costs got fund your children's nursery and after school care.
Some choices are available albeit it will take time to build a steady income. Also start looking and think about investment opportunities......

With an increase in employment rates it makes sense today to plan two attached to your sleeve.
Working for yourself and from home is fast becoming not a luxury but a necessary choice for many African mothers in the U.K nad Africa. If you look back to your family, you may find that our mothers,aunts and teachers had a side hustle to increase heir incomes.I remeber the aunt who made cakes,pies and sold them on to the neighbours. A childhood friends mother, the air hostess who bought clothes and jewelery and sold them to mama. My late mother kept poultry,rabbits and run a taxi and a cargo business.
Her entrepreneurial spirit,tenacity and determination to make ends meet in anew country enabled her to even enter the property market and purchace and build houses. She unwittingly taught me,  "how to spot opportunities and make something out of them".

Property investment is still demeed to be a mans field by many women. This notion is far from the truth and there are examples of women building property porfolios from little.

My story
I lived in a small  two bedroomed fifth floor council house for over ten years which was far from my wishes and as my familiy grew I knew I could no longer rely on the council to rehouse us. So after a few years of staying at home with the children, I went back to study and got a part time job.
With two children and a third on the way,space was now a real issue.  I knew something had to be done.
Increased my working hours after completing my course and pondered about my right to buy the flat from the council. After discussing it with my husband, we put our foot in it. People thouht I was crazy to make such a decision. Buying a flat to be demolished? yes!
Before the purchase, the council were already proposing to demolish  and rebuild new flats deemed better for families. It was a relief, a way to move on. but I saw an opportunity .
Funds were limited,my husband was looking for a contract and I put all the savings to pay soliciors fees and surveyors. The house was surveyed at £94000. Some months down the line a leaflet dropped at my flat informing if we knew we could sell the flat back to the council and buy another.
 Was this my opportuinty to aquire a better place for my family?. I stared at the leaflet for days before finally giving in to contact. Soon I was discussing plans to revalue and move. But there was a pitfall,the council were no longer buying out leaseholders!. I panicked but with the help of the contact I had we nanaged to persuade the ocouncil to buy us out. Months later after painting the flat to make it feel ready for a new baby!.
The house was revalued at £156,000,giving a tidy profit of £70,000 for new home. A spot in opportunity paid off. That was a lesson  I learnt that it could be done over again as investment portfolio.

We have more information to our disposal to become property investors. From mortgages to buying incomplete properties and completing them for rental or sale purposes.

Here in the U.K, I have met many women doing business however small. So for whatsoever reason you want to start, we want you to know that you can have the option.
  • Do not take forgranted the run down propertyin the neighbourhood. It could be a minefield. Do some checks and surveys
  • You can buy shell properties especially in Africa. This cuts the cost of buying a fully completed structure and have it completed by qualified engineers
  • Do buy land and hold on to them as values increase over time.Land can be rented or investing in tree planting for instance as longer term investment


Tired of working for others,or just want to increase your income? Here are steps to take to get you into working for yourself..
  • Assess your skills,experiences and passions if you enjoy what you do it is more likely to work better as you wont feel you are struggling
  • Start small and do not give your full time job
  • Research your chosen area
  • Write a business plan
  • Seek more information/advice and work out finances taking account of your situation.



Check these sites out for more information
Help start up step by step advice   www.businesslink.gov.uk
Business Grants for black women http://www.ehow.co.uk/
European Federation for Black business women http://www.blackwomen.co.uk

2 comments:

  1. Inspiring story Jackqueline. Looking forward to reading more from you on mamapreneurship.

    ReplyDelete