Working mums are an age-old business



I've found a new label to add to how I describe myself: mumpreneur. Part of a growing business lexicon addressing the ways women choose to engage in the marketplace, it's a novel way to describe the age-old trend of women who have children and then find employment that works in tandem with their new family responsibilities.

Today, a mumpreneur is more specifically a woman who has given up her corporate career to have children, and while on maternity leave or after giving up her job to stay at home, she starts her own business.

It's a rather cheesy descriptor that plays on the cutesy aspect of mummyhood, rather than on the serious business of employment and economic activity. So while I applaud the recognition of the trend, does our nomenclature really have to make women's employment into something fluffy and not like real work at all?

It makes us working mothers less threatening to "real work", and firmly stamps the "mum" part of our activities as our primary definer. "Mumpreneur" reinforces the notion that "work" is only for men, and "family" is for women, and that the two do not overlap.

The mumpreneur phenomenon is hardly surprising. Corporate structures are proving too slow for women to rise up and succeed, and they do not offer women the flexibility they want in the way they manage work and family. In practical terms in many countries there is a lack of quality affordable childcare. In terms of social acceptance it means women don't have to deal with the judgemental attitudes that are applied along with the label "career woman". Who talks pejoratively about a "career man"?

It is increasingly popular to be a work from home mum as I am. For me it is the best (and in some ways worst) of all possible worlds. I enjoy my work, and the finances are certainly helpful. I get to spend time with baby, especially while she is so little. And it means that when she is older and goes to school I will have kept my hand in the labour market. My time is utterly optimised. I wish I had known how to be this efficient before motherhood.

While being a working from home mum is enjoyable, it's demanding too. Suitable jobs and understanding employers are rare. It's challenging working from early morning until last thing at night between the mental demands of work, the physical and emotional resources required for childcare and the strain of normal domesticity.

But there is something about this type of work - whether it is a business that is entrepreneurial, or simply the style of work - that is necessary for modern women, as well as extremely fulfilling. The flexibility of arranging work and family as best suits both is a gift. It is unbelievably satisfying to be able to use so many of your own skills, and to successfully achieve your own personal, employment and family goals. I love being able to write a presentation in the morning, do a radio interview at lunchtime, and then spend the afternoon reading alphabet books and running around the garden with my toddler, teaching her the names of flowers, or how to water plants.

I celebrate the recognition of this path that women are forging for themselves, it's fantastic that they are throwing out convention and shaping their lives as they wish. But I don't think it's as new as the novel name suggests. Many of the grandmothers I know had their own businesses when they were mums. I'm just glad we've found their wisdom in our own era.

Shelina Zahra Janmohamed is the author of Love in a Headscarf and blogs at www.spirit21.co.uk

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THE SPECS

Engine: 6.75-litre twin-turbocharged V12 petrol engine 

Power: 420kW

Torque: 780Nm

Transmission: 8-speed automatic

Price: From Dh1,350,000

On sale: Available for preorder now

The White Lotus: Season three

Creator: Mike White

Starring: Walton Goggins, Jason Isaacs, Natasha Rothwell

Rating: 4.5/5

The smuggler

Eldarir had arrived at JFK in January 2020 with three suitcases, containing goods he valued at $300, when he was directed to a search area.
Officers found 41 gold artefacts among the bags, including amulets from a funerary set which prepared the deceased for the afterlife.
Also found was a cartouche of a Ptolemaic king on a relief that was originally part of a royal building or temple. 
The largest single group of items found in Eldarir’s cases were 400 shabtis, or figurines.

Khouli conviction

Khouli smuggled items into the US by making false declarations to customs about the country of origin and value of the items.
According to Immigration and Customs Enforcement, he provided “false provenances which stated that [two] Egyptian antiquities were part of a collection assembled by Khouli's father in Israel in the 1960s” when in fact “Khouli acquired the Egyptian antiquities from other dealers”.
He was sentenced to one year of probation, six months of home confinement and 200 hours of community service in 2012 after admitting buying and smuggling Egyptian antiquities, including coffins, funerary boats and limestone figures.

For sale

A number of other items said to come from the collection of Ezeldeen Taha Eldarir are currently or recently for sale.
Their provenance is described in near identical terms as the British Museum shabti: bought from Salahaddin Sirmali, "authenticated and appraised" by Hossen Rashed, then imported to the US in 1948.

- An Egyptian Mummy mask dating from 700BC-30BC, is on offer for £11,807 ($15,275) online by a seller in Mexico

- A coffin lid dating back to 664BC-332BC was offered for sale by a Colorado-based art dealer, with a starting price of $65,000

- A shabti that was on sale through a Chicago-based coin dealer, dating from 1567BC-1085BC, is up for $1,950

Dhadak

Director: Shashank Khaitan

Starring: Janhvi Kapoor, Ishaan Khattar, Ashutosh Rana

Stars: 3

The Rub of Time: Bellow, Nabokov, Hitchens, Travolta, Trump and Other Pieces 1986-2016
Martin Amis,
Jonathan Cape

The years Ramadan fell in May

1987

1954

1921

1888

A MINECRAFT MOVIE

Director: Jared Hess

Starring: Jack Black, Jennifer Coolidge, Jason Momoa

Rating: 3/5

MATCH INFO

Bangla Tigers 108-5 (10 ovs)

Ingram 37, Rossouw 26, Pretorius 2-10

Deccan Gladiators 109-4 (9.5 ovs)

Watson 41, Devcich 27, Wiese 2-15

Gladiators win by six wickets

THE BIO

Born: Mukalla, Yemen, 1979

Education: UAE University, Al Ain

Family: Married with two daughters: Asayel, 7, and Sara, 6

Favourite piece of music: Horse Dance by Naseer Shamma

Favourite book: Science and geology

Favourite place to travel to: Washington DC

Best advice you’ve ever been given: If you have a dream, you have to believe it, then you will see it.

CREW
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Nick's journey in numbers

Countries so far: 85

Flights: 149

Steps: 3.78 million

Calories: 220,000

Floors climbed: 2,000

Donations: GPB37,300

Prostate checks: 5

Blisters: 15

Bumps on the head: 2

Dog bites: 1

The specs: 2018 Nissan 370Z Nismo

The specs: 2018 Nissan 370Z Nismo
Price, base / as tested: Dh182,178
Engine: 3.7-litre V6
Power: 350hp @ 7,400rpm
Torque: 374Nm @ 5,200rpm
Transmission: Seven-speed automatic
​​​​​​​Fuel consumption, combined: 10.5L / 100km

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”