The people of Latvia have positive opinions about the ability of a woman to raise a family and run a company at the same time, and there are no biases in this area – this according to a survey conducted by the Citadele Bank. For the second year in a row, the bank is joining with the magazine Mans Mazais in organising the “Mama’s Business” competition so as to encourage mommies to become involved in entrepreneurship.
Earning a living, being independent
“Our survey found that 56% of respondents think that women can do both things, 5% don’t think that they can do so, and 35% believe that yes, the woman can do both things, but either her business or her children will suffer as a result of it,” says the head of the Citadele Corporate Services Directorate, Agnese Paegle. “Women and younger people were more likely to believe that a woman can raise a family and run a business at the same time.”
“Only 14% of respondents, mostly old people, argued that a woman must be a mother, not a businesswoman,” Paegle continues. “That viewpoint is probably based on ideas from the Soviet era which are no longer important.” She adds that “the most significant opportunity which women with children enjoy while running a business, as far as respondents are concerned, is the ability to earn money and be independent.
In last year’s “Mama’s Business” competition, businesswomen said that a key factor in launching a business is the opportunity to do things that they like and to plan their time more freely. The survey of residents, however, found that respondents mentioned such factors less often. When asked for the most important reason why a woman cannot run a business and raise a family at the same time, most respondents said that there is not enough time to do both things.”
Businesswomen who are mommies: Join the competition!
“There was a great response last year, and mamas proved that they can do these things,” says Mans Mazais editor Tīna Kempele. “Often women who are expecting or nursing a child find that this is a breath of fresh air in relation to their ordinary work, and that encourages new ideas and a flight of creativity. For many mommies, a business is an opportunity to merge the raising of the child with a way of earning money.”
Citadele and Mans Mazais are announcing a new competition for businesswomen who launched a business while expecting or nursing a child. Applications will be accepted until December 31, and they can be found at www.mansmazais.lv, or at any Citadele branch in Latvia. The winner will receive LVL 1,000 from Citadele, and Mans Mazais will publish interviews with the women who produce the six best business projects. All participants will be able to present their business project or product at the “Mama Bazaar” in May 2013. There will be no fee for participation.
Fans can support their favourites on the Mans Mazais homepage, where competition participants will be able to publish a description of their business. The winner of the reader vote will receive a prize from SIA Citadele Leasing and Factoring.
The jury for the competition will include Paegle and Kempele, along with last year’s winner, businesswoman Rita Stikāne, the board chairwoman of the Latvian eco-cosmetics company MADARA, Lotte Tisenkopfa-Iltnere, and the vice president of the Latvian Chamber of Commerce and Industry (LTRK) and president of SIA Arkolat, Daina Pečate. “The jury has established criteria on the basis of which we will evaluate the competitors,” says Paegle. “These include sustainable businesses, original ideas, the explanation of the business project, market demand, the target audience, and export opportunities.”
Businesswomen cite different factors in developing a business
Pečate has nearly 20 years of experience in running a business, and she explains why the sustainability of a business is a key criterion this year: “Among the most important factors in sustainability, as far as I’m concerned, are the motivation, knowledge and experience of owners, the delegation of functions, selection of appropriate partners, correct organisation of the business, and personal harmony, peace and balance in everyday life.”
Because many of the companies which took part in the “Mama’s business” competition last year were established recently as micro companies, Pečate also speaks about the advantages which such entrepreneurs enjoy: “At the initiative of the Latvian Chamber of Commerce and Industry, the Cabinet of Ministers and Parliament approved a series of steps such as the micro company tax which make it easier to launch and develop a business. Small companies also have opportunities and interests which allow them to make use of the advantages of LTRK membership with a lower membership fee. Many micro companies make use of free informational and educational seminars which the LTRK organises for its members. New and professional experiences are of key importance when launching a business.”
Tisenkopfa-Iltnere also has ideas about what is needed to launch and develop a successful business: “Of key importance are education, professional experience, and a team of people from various sectors who are creative and rational in their approach. A joint idea brings together differences and facilitates development. We developed our company with the help and involvement of our families, as well as mentoring and an opportunity to receive grants for a new business. Of course, we also had to engage in exciting, but difficult work.”
Stikāne argues that “a business will be successful only if you are doing something which you enjoy, and nothing is more educational than your own experience.” Stikāne established one business and then wanted to try her abilities to produce products. She began to produce thermal underwear under the brand name Termokid. “Businesswomen must always follow along with the times and think up new solutions,” she says. “Women with children even have advantages in business, because they have the best sense of products which are child-friendly and convenient for mamas.”