Working for someone else isn’t always the most satisfying thing. Of course, it offers job security and a steady paycheck, but working for a corporation can be difficult, especially for Black Women.
Many working environments have proven to be hostile towards women of color. There are microaggressions, cultural biases, and unfair wages.
With all these obstacles, starting a small business can be appealing.
Yet, starting a new business can be overwhelming. There’s creating a business plan, managing finances, marketing, and developing your product or service. However, despite the never-ending to-do list of starting a business, there is a simpler alternative.
Consider starting a micro business.
What is a microbusiness?
Chances are, if you’re a freelancer or are running a side hustle, you’ve probably already started a microbusiness. Essentially, it is a business with fewer than nine employees. They are often run with limited resources, are easy to start, and thus have many advantages.
Examples of micro-businesses
Micro-businesses are all around us. They usually focus on a targeted audience. Here are some examples.
- Freelance writers
- Coaches
- Virtual Assistants
- Etsy shop owners
- Consultants
Stats on micro businesses for Black women
The odds are in your favor if you’re a Black woman considering starting a microbusiness. According to research, of the 15 % of U.S. microbusiness owners, 68% are Black women.
Additionally, Black women are also finding success when buying businesses instead of starting one from scratch.
Five reasons to get started on a microbusiness
If you’re considering starting a microbusiness, here are five reasons to make the leap.
1. More flexibility
Many micro businesses are internet-based, which means you have the flexibility to work from anywhere. Although many traditional companies offer the chance for their employees to work remotely, there are often some restrictions on the location and hours you can work from.
However, owning a microbusiness means that you create your own work schedule. If you work best at night, you can spend the day relaxing and caring for yourself. Then, you can focus and do your best work when night comes.
2. Increased income
While generating revenue as a micro business can start to slow, the earning potential is limitless. Microbusinesses often focus on selling to a targeted audience and control the pricing of their services.
With more control of your pricing, you don’t have to worry about working hourly and can set up various price points.
For instance, you can generate passive income by selling various products or offering high-priced services to a particular clientele.
3. Networking and professional growth opportunities
Having a microbusiness means that you can work with various professionals and businesses.
Additionally, starting a microbusiness can encourage you to learn new skills such as web design, marketing, copywriting, and others to help you grow your business.
Instead of feeling stagnant in a typical 9 to 5 job, owning a microbusiness can help you challenge yourself and reach new career heights.
4. Help close the gender gap
For years, women have been trying to close the gender wage gap. This struggle has been particularly challenging for Black women.
When more women start microbusinesses, they put themselves in charge of their wages. They are no longer waiting for some corporate boss to give them the pay raise they deserve.
5. Easily apply old skills to a new business
The great thing about starting a microbusiness is that you can use skills you’ve utilized throughout your career.
For instance, if you’ve worked in sales for most of your professional life, you can use those skills to sell your product or service.
If you are an expert in your field, consider starting a consulting business.
Are you ready to start your microbusiness?
