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Opening a Business as a Woman By Naz Daud

  in Business | Published 2010-03-08 00:15:10 | 190 Reads | Unrated

Summary

Despite being half of the population of the United Kingdom, women’s presence in business is not as forceful as the percentages Although figures show that women when they open their own businesses do end up running them just as successfully as men

Full Content

Despite being half of the population of the United Kingdom, women’s presence in business is not as forceful as the percentages. Although figures show that women when they open their own businesses do end up running them just as successfully as men.

For women, starting their own business can be a way to not only achieve the same thing that men starting their own business crave – such as greater flexibility in time, and a healthier balance between work and home life – but also as an easier way to enter employment areas – such as engineering, IT, science, and technology – that are t
raditionally male dominated and may be more difficult for a woman to break into.

The first thing needed for any woman looking to open up her own business is that most simple of requirements – an idea. If you have an idea for a business already, a business plan needs to be formed and market research undertaken to ensure that the idea is viable before taking any action to go push ahead.

If you don’t have an idea already, then ask yourself these questions. What are your existing skills, and could they lend themselves to a business that you own and operate yourself? For instance, if you are a skilled musician, you could look to become a music tutor, and so on.

There are numerous options for women when it comes to starting their own business, from becoming a part of a franchise to selling goods from your own web site. Once you have made up your mind about the kind of business you wish to pursue, the next step is to write up an official business plan, which is particularly vital if you intend to approach banks or any other kind of financial institution in order to gain financing to start your business.

A business plan essentially gives a detailed description of your plans, including its aims, market, and expected financial costs and returns. Another vital document adjacent to the business plan is that of the marketing plan, which explains who you are targeting your business at, and how you intend to go about attracting their custom.

Before sitting down to write this document, it is important to ensure that you have done your research and are well aware of the market you are entering into, the sales targets you intend to reach, and how you intend to go about promoting your business. It’s also important to know about any potential competition that may well be already offering the kinds of products and services you are intending to specialise in.

As a woman starting your own business, there are some advantages, in that many business support agencies which are specifically designed to aid women (in addition to general business support agencies). The Prowess web site is particularly good at helping women to find these organisations, which can also assist women to find other women in business. Having a supportive network or even a female business mentor can be a major boost.

Starting your own business is always a challenge, whatever your gender, but there is no reason why a woman can’t go on to find just as much – if not more – success in their field than any man.

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