According to the United Nations, the chances of disabled parents becoming self-employed are three times higher than those without a disability. This fact is attributable to difficulty with finding employment or maintaining a job while raising children. Regardless, opening a business as a parent with a disability is the key to earning a living while providing full care for your kids. From getting funding to marketing your brands, the following tips will help you open a business and keep it running.
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Business Plan and Structure
The first and most crucial step in starting a business is to develop a business plan. Create a document with business goals and how to attain them in a specific time frame. Next, choose the best structure for your business. The most common business structures include that of a limited liability company (LLC) and a corporation. The former comes as a small corporation (S-corp), standard corporation (C-corp), and benefit corporation (B-corp).
Funnel Grants and Funding
The leading cause of startup failure is a lack of capital. Gather enough finances before launching your business. You may form an LLC to access small business grants, tax breaks, and loans. Research how LLC rules differ with each state. You can also get financing from the Small Business Administration, which has a program for disabled people.
Hiring Employees
Hiring employees is crucial for your business’s productivity. Simplify finding qualified and professional employees through temp and staffing services. You can also post job opportunities on your business’s website.
Networking
There are numerous parents in the same situation. These people are most likely looking for opportunities just like yours. Reach out to these individuals via social media advocacy groups and local organizations. You may have something helpful to share or connect with a company or someone looking for your products or services. You never know.
Marketing Your Business
Clients will never know about your business if you don’t market it. There are numerous forms of marketing, with social media platforms being the most common and cheap option. Ideally, you can use sites like Instagram to post vital information and eye-catching content about your brand. An Instagram post maker lets you choose a template which you can customize with your own images and text.
Creating a website will also make your startup visible to your clients since people look for products or services online. Lastly, get a web and graphic designer to help create attractive visuals for your business.
Use Best Accounting Practices
Keeping your business afloat relies on the best accounting practices, including establishing a budget, examining your financial state, and creating short- and long-term goals. To reduce your workload and ensure efficient accounting tasks, it would be in your best interest to use an integrated bookkeeping system. This software will help you manage your business’s money. It will also make it easy to organize and store receipts to get the most deductions while remaining compliant. This software can also give you insights into cash flow to run your business more smartly and efficiently.
Become Your Own Boss with Self-Employment
Having a disability isn’t an inability. When you combine creativity, self-drive, and commitment with effective hiring, networking, online marketing, and accounting practices, you can start and run a successful business.
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