There is no easy answer, with various arguments for and against taking the plunge during these tough economic times.

All things considered, my short answer is yes but it comes with two major caveats:

1. You recognize that it can be years before you earn an income from your business (if ever). If your family is counting on you becoming Sugar Mama, there will be a serious gap between expectation and reality;
2. The money-maker in your household is not at risk of losing a job because of the recession.

If you can check those two off your list, then don’t backburner your business plans just yet.

Mom Entrepreneurs have different motivators then the more typical entrepreneur. We embark into business ownership as a means of striking some balance and finding flexibility between our dueling roles in work and family. Many mom entrepreneurs hope to supplement the family income enough to warrant a continued absence from the traditional workforce, while others have no intention of making an income at all. Some mom entrepreneurs find running a small business a nice distraction from the daily grind of packing lunches and wiping noses.

If your goals are loftier and more closely resemble those of The Donald, it may be time to re-think the timing of your business launch.

Recession is not a time of rapid growth for business. Unless Oprah knocks down your door (we’re still waiting) the mom entrepreneur can use this time to manage growth at a pace that suits both her family and the economy. A recession promotes creative thinking and new ways of doing business.

Mom entrepreneurs are generally risk-adverse and this can be an advantage during these tough economic times. Going to large financial lending institutions and racking up a load of debt is an unlikely option for the mom entrepreneur. Imagine the mom entrepreneur sauntering into the bank for a loan and pitching her idea of making widgets at the kitchen table while dinner is in the oven and the baby is napping. Mom entrepreneurs are not known for seeking out less reputable lending solutions either.

If a cash injection is required, the mom entrepreneur is more likely to have success with parents or in-laws. Borrowing from loved ones can be considered low-risk financial behaviour during a recession. If re-payment has to be delayed for a couple of months, no one is going to come around to shake you down or break your kneecaps.

If you can get your business going in these times, then you have a pretty good chance of surviving anything. Mom entrepreneurs are well rehearsed at watching the bottom line – it’s what we do. Though it can be tough for mom entrepreneurs to trim expenses since we rarely have any fat to trim, we are also resourceful mamas who don’t waste either time or money. If a marketing budget needs to be cut, we have the know-how to rely on our social networks and social media. You can catch many mom entrepreneurs on facebook, twitter and our blogs. And all of that with a very reasonable price tag – the cost is time, not money.

Whenever we get over-cautious at the Mabel’s Labels office, Melissa, our marketing guru, always gives us the same advice: go forth and be bold and the mighty forces that accompany confidence will come to your aid. I often pass those words onto mom entrepreneurs-in-the-making with the reminder that if those mighty forces should fail, advice from your been-there-done-that mom entrepreneurs at Mabel’s Labels is only a phone call away - and hey, it’s free!

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