We may be in the midst of an economic recession, but there’s one group that’s clearly surviving (and in many cases thriving) in these uneasy times. Mompreneurs, the group of mother entrepreneurs who spawned the hot buzzword of last year, are still around and many are doing better than ever.
Recently I spoke with Kathryn Bechtold, founder and publisher of Mompreneur magazine, about how Canadian mompreneurs are coping with the recession. I was surprised to hear that while some struggled last year, most are flourishing today. Bechtold has a couple of theories about why this group of small and micro business owners is doing so well.
First, mompreneurs sense a real necessity to making their business a success. “Mompreneurs can’t take risks that other entrepreneurs may have when their family’s livelihood is relying on their success,” says Bechtold. That conservative approach to risk-taking has probably seen them through the worst of the economic situation. Other entrepreneurs may take larger risks that can spell larger profits in better times, but could spell bankruptcy today.
Bechtold also commented on the fact that there is a large group in the mompreneur retail sector that’s more luxury-related, and while it was certainly a “different holiday season” for these mompreneurs, they’ve been able to make quicker changes to their operating structures than would entrepreneurs with more of a corporate structure. As moms we’re nothing if not adaptable in all we do, and that translates very effectively to the mompreneurs’ businesses.
So what are the next trends for mompreneurs? Bechtold identified two major trends. First, she mentioned that she’s seeing more and more women who are leaving their professional fields to go the consultation route. These are highly educated women who realized after having their first or second child that returning to work was either not economically feasible, or would not work for their families. These mothers are using the skills they acquired for their former corporate careers to launch successful independent consulting businesses.
Second, she’s seeing mompreneurs becoming more involved in negotiating international trade agreements. Bechtold says, “If a mom is selling kids’ shoes, then as her business grows she’ll look at China, Pakistan, wherever to determine where the best product will come from.” The next issue of Mompreneur magazine will focus on that very international angle.
If you’re in the Greater Toronto Area, and are interested in seeing a posse of amazingly talented mompreneurs this weekend, head down to the Marketplace in the Distillery District on Saturday May 23 where you’ll see jewelers, photographers, purse designers, belt makers and more. Full details can be found at Kathryn’s website.
This week, three lucky urbanmoms members will win one-year subscriptions to Mompreneur magazine, a great resource for business, social and professional tips and trends. The subscription is valued at $25. If you’d like to win one, please simply leave a comment. Feel free to share your own, or your favourite mompreneur’s information.
This contest ends on Tuesday May 26. You must be an urbanmoms.ca member to be eligible to win. Not a member yet? Join now..it’s easy and it’s free.
I would love to read this magazine. Hope to gain some inspiration while on mat leave!
Thank you for this contest. I would love to read this magazine and then pass it on to my daughter and my friends.
This magazine would be interesting to read.
I would love to get ahold of a magazine like this. Hopefully it would be useful to find resources for up and coming mompreneurs!
I receive Mompreneur newsletters via e-mail from Kathryn and they are really good – haven’t actually read the magazine though – so would be great to have a subscription!
I think Kathryn is right on the ball. I am a mompreneur and my business is still growing considering this Recession and all… Sounds like a great magazine! I’m always looking for tips and more.
I’m on a mission this year to make my dreams come true. Each day is one foot infront of the other. I’m the best I can be each day with regards to health, family and making a financial difference. This win would be chalkful of ideas!
So many people are operating from their homes these days. I would really like to find out more about this phenomenon and how to get involved. If I could keep tabs on my kids movements and make money, superb!
I’m always looking for new information to help me run my business! I’d love a subscription to this magazine!
This looks like a great magazine to read, could get a lot of idea’s on how to become
a Mompreneurs.
Thank you for the information. I have just started a homebased business.
sounds like a great magazine !!! 🙂
This magazine seems to be a very valuable source of information. With today’s economic uncertainty this would be a great tool increase my households monthly income.
I have always found Mompreneurs to be a creative and resourceful bunch. We also are often eager to reach out to help one another. These traits will continue to help this group exceed expectations!
I am so interested in perusing this magazine as I have an idea I’d like to pursue but am not sure where to start…would like to find out how other moms have done it! I also find it inspiring to read of people who were caught in the corporate rat race and have found purpose and fulfillment outside of the corporate doors. I’m glad that we are focusing on the contributions and ethics of the mompreneur. Not only is being a mom one of the most difficult jobs in the world but running your own business on top of raising children is a heroic feat!
Very interesting article Jen! Thanks for posting…. It is a great time to be a Mompreneur.
As a stay-at-home mom who has been trying to freelance in my spare time and have a zillion ideas of products I’d love to launch, this magazine subscription is right up my alley. It will go nicely in my new kid-friendly office I am having done right now.
I’d love some inspiration to help my home based business succeed.
After having my second child, the prospect of heading back to my job that required travelling around the world and leaving my kids for days and weeks, was heartbreaking and unacceptable. A friend owned a local consignment store for kids and decided to sell and I make a hormonal, split second decision to buy it and haven’t looked back since! I got to take my baby to work and have my oldest help out. It is teaching them so much and I am so much more fulfilled. Being a mompreneur is a blessing that isn’t disguised!
I love to make quilts from recylced jeans and would love some inspiration on how to roll this into a business venture. This magazine could help point me in thte right direction.
Sounds like a great magazine! I would love to read it and find ways to work from home and spend more time with my kids.
I would love to win this, sounds like a great mag.
This magazine seems to be a great tool for people who want to become a momtrepreneur. It is not easy to juggle your work life and house life. I have never been an entrepreneur but I’m thinking about becoming one.
I’ve been working full time and still keep a business on the side. It’s a juggling act at all times.
I would love to win this magazine
This sounds like a great magazine… I totally support the moms who do this.
A magazine of inspiration for moms looking for change. LOVE IT!
It is high time for a magazine like this, it shows how resilient and resourceful Mompreneurs are & I wold look forward to reading about the great work being done by Moms taking the initative.
Well done.
Mompreneur sounds very interesting. What a great idea for a magazine. I’d love to read it.
I’m about to become a mompreneur myself, as a life coach, so that I can help people having the life they want while I have the life I want!
Being a Mompreneur myself I think it is very important to support other Mompreneurs out there. Way to go Moms!
I personally think that being a mompreneur is awesome…
Buying Made in Canada is something I personally look for whenever possible…so the more mompreneur’s there are the better…at least I know someone in Canada took the time to make the product…and I won’t have to throw it out in a few months…
I agree. This is a great time to be a “Mompreneur”. With the big corporations struggling and layoffs a threat, being your own boss can be a welcome relief. I have two home based businesses and love the flexibility. And yes, business is booming!
I agree and think that as mothers we are using our everyday skills to further our business plans. We have learned that sometimes waiting out the storm and making sound decisions will help us last.
sounds great..hope to read this magazine
This magazine sounds like a great idea…I’ve always thought about becoming a mompreneur so I can stay home longer with my little one. Knowing that there are other mom’s out there doing it and flourishing in this recession too is just great. I look forward to learning all the tips and tricks from this mag.