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Rewarding Business Opportunities for Moms with Disabilities
Written by: Ed Carter
Last Updated by
Brenda Bagnoli: August 10, 2022
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When you have a disability, finding work isn’t always easy. In 2021, the employment rate for moms with disabilities and disabled persons in the US between ages 16–64 was just 31.4%, according to the U.S. Bureau of Labor Statistics. More than half of men and women with disabilities face unemployment in a given year. While some people with disabilities are unable to work, many simply have trouble finding a job that accommodates their needs – whether it be an accessible workplace, flexible hours, or remote opportunities.
In particular, moms and women with disabilities face some significant barriers when it comes to finding work. As if being a parent wasn’t hard enough as it is!
Thankfully, the movement away from corporate life and towards individual entrepreneurship has opened up many new opportunities for busy moms looking to make money from home. Today, Vetted Biz shares some tips to help you launch a business as a disabled mom.
Choose a Compatible Business Model
GoDaddy notes that the type of business model you choose will have a big impact on the viability of your business idea. Think about your specific needs and values when coming up with a business idea. If, for example, you only have a couple of free hours every day to work on your business, choose a business model that doesn’t require a lot of hands-on work. Generating passive income is an excellent goal in this situation. If, on the other hand, your kids go to school during the day and you’re looking for an easy way to start making money instantly, try selling your services as a freelancer.
Remember to consider your particular disability when choosing a business model. If you have a vision impairment, for example, working as a virtual assistant or freelance writer is easy with the help of text-to-speech software and screen readers.
Write a Business Plan
As a busy mom, you can get a lot of value out of good planning. Writing a business plan is important for keeping your business on track toward your goals. You can also use your business plan to solicit funding and make important financial decisions. If you need help putting a business plan together, consider hiring a specialist through a freelance job platform.
It’s a good idea to be as specific as you can be on your business plan, and this includes securing an employer ID number (EIN), which is a requirement for banks and other entities to track your personal and business finances separately. Having an idea where your money is going to come from and go to will keep you from improperly mixing your funds. You’ll be able to meet your tax obligations easier, too.
Market Your Business
Once you’ve got your business plans established, you’ll need to decide how you’re going to market your business. You can hire a marketing firm or freelancer to help you out, but you can also take advantage of free online tools, like one to help with your company logo design. With free tools you can make high-quality work at no cost, which is great when you’re starting out.
Also, while the importance of marketing cannot be overstated, it’s a good idea to calculate your debt-to-income ratio before setting your marketing budget. Incidentally, this is also a calculation you should perform before approaching any investors or seeking a loan from a bank, since it’ll give you a better idea of the health of your business should potential investors ask – and they will.
Be Mindful of Your Needs
Running a business as a stay-at-home parent can be tough, especially when you’re also facing the challenges of living with a disability. Be careful to avoid burnout! Remember to take time to tend to your own needs and nurture your personal health. Protect your energy with a healthy diet, regular exercise, and a good sleep schedule. If you feel like life is getting out of hand, take a step back. Take advantage of freelance help and tech tools to streamline your business and save time, so you can slow down and take a breather once in a while.
If you’re a mom or a woman with a disability, launching a home-based business could be a great way to earn an income. You get to set your own hours, call the shots, and spend your time working on projects that are meaningful to you. Start planning your new business today!
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