“At times the consulting work brings in the money, at others it is the jewellery business. I’m freelance and while I’m between contracts it’s a good way to bring in money. It means I’m less dependent on the consulting market.
“I know that there would be a lot more pressure on me if I decided to devote all my time to the jewellery business, so I’m happy for it to grow organically first and to enjoy it. The industry can be quite ruthless, so this is a way for me to test the water. I also get the same satisfaction from both careers.
“It’s important to make sure the jewellery business does not affect my consulting work and vice versa. As long as you don’t promise something you can’t deliver it’s possible to do both.”
Sabina Ali, who works in graphic design in the City, plans to make the leap from full-time employment to running her own business designing and selling evening and wedding dresses.
In the meantime, she does both. “I want to run my own business so I can retire early. I’m working much longer hours these days but I want the freedom to travel the world or have a family.”
She is part of a start-up scheme called the New Entrepreneurship Scholarships, working with advisers and mentors to help her during the start-up process.
“I spend every evening working on the business. I’m learning all the skills I will need when I’m running the business full-time.
“I’ll do that when I’m satisfied I have the product right for the market and when I have enough money to cover at least six months’ outgoings.”
More people are hedging their bets in this way rather than quitting work and jumping in at the deep end, according to Janice Sandwell of Business Link. It is not always without its complications, however, and juggling salaried work and a small business still requires discipline and caution.
“Starting in a small way is easier to manage, but you must be realistic,” said Sandwell. “Some people try to keep a full-time job and still give all their spare time to the business. Sole traders have a real problem saying no and tend to take on too much.
“If you’re taking on too much, something will have to give in your career, your business or your personal life.
“Your business may also work on a small scale, bringing in a modest second income, but make sure you ask yourself if it will be able to support you if you try to do it full-time. You may also need to consider how taking on all this extra work will fit with family life.”
Employers’ increasingly flexible approach to working time and practices is helping, however, said Sandwell. “Working four days rather than five and spending that free day on your own business is proving quite popular at the moment. A lot of employers realise that if you are good at your job it will be worth agreeing to your demands in order to keep you.
“Career women are looking for a better quality of life, and by cutting down their hours they are finding out what it is they really want to do. They may not always end up making vast amounts of money, but it’s a lifestyle choice for them.”
