MIAMI - Two South Florida women are among a growing group of Americans who balance their businesses with being moms.
Author Luly Balepogi spends her time encouraging women to start their own company.
"I am happy," she said. "I work half the time making the same amount of money. I am happier and in my life I get to do every day that I love."
Balepogi said future mompreneurs must structure their business plans to work with their families' schedule.
That's something fellow mompreneur Mariana Cortez had to do with her three children. Cortez runs Bunnie Cakes in Miami.
"You need to delegate and train and teach them," she said. "You also to have to make your workers love your product or brand of what you do or service."
Research says more mothers are likely to leave traditional jobs to start their own business, but self-employed men make 55 percent more than women. Balepogi said the pressures of motherhood may get in the way.
Looking to start a business?
Here are a few simple tips from the Small Business Administration.
- Write a business plan — A business plan is very important when creating a roadmap for business success. This document generally projects 3-5 years ahead and outlines the route a company intends to take to grow revenues. This written guide will help you map out how you will start and run your business successfully!
- Get business assistance and training — There are tons of free training and counseling services, from preparing a business plan and securing financing, to expanding or relocating a business. Check out www.broward.org/smallbusiness and www.SBC.gov/content/about-miami-office for free resources in South Florida.
- Choose a business location — Contact your local small business office to find to select a customer-friendly location and comply with zoning laws.
- Find money for your business — Find government backed loans and research grants to help you get started. Your local small business office will have a list of grants available in your community.
- Talk to a lawyer — Decide which form of ownership is best for you: sole proprietorship, partnership, Limited Liability Company (LLC), corporation, S corporation, nonprofit or cooperative.
- Make it official — Register your business name with your state government.
- Get a tax identification number — Learn which tax identification number you'll need from the IRS and your state revenue agency.
- Register for state and local taxes — This will be very important when it comes to getting your tax identification number, workers' compensation, unemployment and disability insurance.
- Obtain business licenses and permits — Get a list of federal, state and local licenses and permits required for your business.
- Understand employer responsibilities — Learn the legal steps you need to take to hire employees.
You can find more tips by visiting www.SBA.gov.
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