Taking their fate in their own hands - Young parents on their way to become entrepreneurs

Being able to manage our own time is one of the biggest benefits of being an entrepreneur or a free-lancer. Doing so as a young parent means that we have even more time to spend with our family. It seems on obvious step for young mothers and fathers to start their own business while being at home during the time of the childcare benefit. Some of them realise their need to work independently, while some come up with their own marketable idea, but data shows that for most of them, these will remain dreams.

According to the Monthly Statistical Anthology of the Hungarian Central Statistics Office published in May, the number of registered business organisations was 1 million 990 thousand in 2018 (which is 38 thousand more than the year before). Out of which Bisnode Hungary counts the number of business ran entirely by women to be 26,3%.

 What is it that holds back women from becoming entrepreneurs? The fear of failing, lack of capital, and unfavourable economic circumstances all play a role, but many women miss the practical, professional knowledge as well. When having your own business, you must be able to manage several aspects of a company, that are taken care of by entire departments at big companies: finances, taxes, strategic planning, project management, marketing. Diverse knowledge is needed, which could seem intimidating for many.

The prevoius #entrepreneurofthefuture event organised on June 4 was gather top professionals from three different sectors, which was act together to prove that everyone can turn into a successful entrepreneur – even as a parent. Committed to help young parents, Coworkid Foundation, together with Coca‑Cola HBC’s #YouthEmpowered program, which aims to enhance the chances of young people on the labour market, and the Deputy-Head of Department of Family Support of the Ministry Of Human Capacities will present the supporting programs available for young people who are about to start their own family, as well as young parents. The currently available family support funds for those who are raising their kids and building their own home can also mean help to start a new business. Financial stability, the family as a resource, and the different ways of childcare mean great help for those who are facing the challenges of starting a new business.

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The program, which focuses on young parents and young women, aims to help participants to find their potential and motivates them to take the first steps towards becoming a business owner. From supporting those who are in the early stages of starting a business, to helping out a halted business, the participating professionals of the workshops give exact answers and useful knowledge to participants regarding the taxes, legal issues, marketing communications and finances of their business.

Coworkid Foundation was brought to life by Loffice Coworking in 2018. The model offers both the possibilities of a coworking office and a daytime childcare, being the first to do so in the country. The Foundation aims to enhance the labour market chances of young parents by organising child-friendly workdays and professional events, focusing on the challenges of technological growth and the changed ability to work.