2023 State of Mom Entrepreneurship Survey

presented by Hustle Like a Mom I powered by Key4Women l KeyBank

THE RESULTS ARE IN!

As the leading voice for the between drop-off and pick-up mom entrepreneur community, Hustle Like a Mom is thrilled to present the results of our comprehensive survey showcasing the pulse of mompreneurship in America.


Over 270 mom entrepreneurs from 32 states participated in this monumental survey.

We know that data gets doors opened. And we at Hustle Like a Mom, along with our sponsors at KeyBank and Key4Women, wanted to gather data to showcase:

  • Mom entrepreneurship is on the rise, and the biggest post-COVID boom

  • Participation in female & mom-founder networks is crucial to business growth and mental health

  • More access to funding sources and financial planning resources is needed

 

MOMPRENEUR FACTS

  • 25.6% of mompreneurs say that the trigger for taking their career in the entrepreneurial direction was because their job was not able to accommodate their lifestyle needs

  • 47.1% of mompreneurs generated less than $30,000 in business revenue during the past 12 months

  • Top motivators for launching a business:

    • 30% Flexibility, ability to grow family and pursue professional goals

    • 30% Passion, this was always something I wanted to do/explore

    • 18% Commute, no longer wanted to travel for work

    • 12% Financial, family needed monetary support and/or launching a biz was a more lucrative option than corporate job

    • 10% Personal Growth, didn’t want to be an exclusive stay-at-home mom

  • Of those who had a corporate / 9-5 job prior to launching their business, 45.5% of women said they felt they were being sidelined or looked over for bigger opportunities after becoming a mom

  • The top areas of knowledge most mom entrepreneurs feel they need the most support in to grow their business are: Digital Marketing, SEO and Organic Sales/Traffic, followed by Financial Planning and Projections.

  • Biggest hurdle to generating more revenue:

    • 35.4% mom entrepreneurs felt it was due to lack of business strategy and organization

    • 21.4% stated more time and childcare support was hindering their revenue potential

  • 33.6% of moms who founded a business have no childcare support (this included paid or unpaid help from spouses/family/friends)

For Press Inquires about the survey and to speak with Pamela Pekerman, founder of Hustle Like a Mom reach out to Sabina Hitchen sabina@sabinaknows.com or call 917.647.4821.

Since 2016, Hustle Like a Mom has been on a mission to empower and educate mompreneurs. Long before COVID, we wanted to create a community for the often overlooked women who are doing, creating and redefining what it means to be a working mom.

We never meant to start a revolution - okay, maybe a little - we just wanted to unite and gain strength and knowledge from one another.

Along with our sponsors at KeyBank and Key4Women, we want to thank you for lending your voice to this important survey.

We hope you can use it in seeking partnerships, gaining access to funding sources, and raising awareness about the impact mom entrepreneurs have on our economy and our society.

Feel free to reference/quote the survey.

Kindly refer to it as “Hustle Like a Mom’s State of Mom Entrepreneurship Survey, powered by Key4Women l KeyBank”.

Thanks to your support and making your voice count, Hustle Like a Mom has donated $545 to our charity partner, InKind Boxes.

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Hustle Like a Mom is proud to collaborate with KeyBank’s Key4Women program. Key4Women has been helping women business leaders and owners tap into capital to build and grow their businesses. Members gain valuable access to local Certified Advisors who advocate, connect and empower women on their journey to financial wellness.

Charity Partner

In Kind Boxes is a female founded, volunteer run, 501(c)3 nonprofit organization that helps families in need by providing quality essentials that support the overall health and well-being of new moms/birthing parents, and their babies.

Each completed State of Mom Entrepreneurship survey will equal $2 donated to In Kind Boxes, enabling this wonderful organization to provide more postpartum support for families in need.