The Stay at Home Mother

The last installment of Home-Based Business Basics revolves around what resources are out there for women just starting out. It can be as easy as talking with other women who are doing it or finding a mentor who can keep you on track. Asking lots of questions is imperative to your success.

There are some other great resources out there that can help you with your business and provide you with the answers that you need - right from the get go.

Here is just a sample of what is out there for moms just starting out:

Small Business BC: which puts on free or inexpensive seminars in Vancouver for entrepeneurs. Great website, lots of information and user friendly. Offers assistance for the start up of your business.

Women’s Enterprise Centre: Is also a great resource and offers tons of information for women entrepreneurs. They also offer loan assistance for women.

An Accountant: If there is anything you do not understand about the financial aspect of starting your business, how to handle your books/records, etc. Invest in a good Accountant, who will be able to save you money in the long run.

A Lawyer: If entering in to a Partnership/Corporation, it is best to seek Legal Advice right from the start if there are any legalities that you do not understand.

Yes You Can Be a SAHM Consulting: Of course I have to mention my company here because that is what I do - help moms with the start up of their business. I do Action Plans to keep you on track, Marketing plans, and locating the best people for you to help you with other aspects of your business. I also write web content for your website and provide guidance through the entire process of starting your own business. I am also your personal cheer leader because SUPPORT is my middle name (well, not really - but it should be).:)

One of the great perks about having your own business, is that it will allow you to write off things like a portion of your home (if you have a home office), motor vehicle expenses - automobile leasing costs, and operating expenses such as fuel, oil, maintenance and repairs, licence and insurance costs, and car washes. And things like your home phone/cell, etc. In general, expenses incurred in order to earn business. Many expenditures will be fully deductible in the year in which they are made. It is imperative to keep all receipts related to the start up and running of your business.

If you need to obtain a loan, there are some great places to go that support entrepreneurs. Credit Unions are really helpful as well as smaller banks, and Women's Enterprise Centre as mentioned above. All will require a well thought out Business Plan, so that they know that you are serious about your venture.

A Business Plan will include things like market research, start up costs, vision, competition, skills and education that you bring to the business. You are a business risk to any financial institution that is evaluating the possibility of providing you with a loan, so you need to reduce the risk, by providing them with as much information as possible as to why you will succeed.

But the most important advice I can give all moms just starting out is to have the confidence to believe in yourself and your idea. Remember - if you don't believe in it whole heartedly - no one else will. And stick with it - especially when things get tough, because perserverance is really what its all about. :)