I am the same case as you "serpent" too. I have 2 kids, the 3rd kid will coming in Jun. Two years ago, I used all my save about $150K with my partners to set up a trading company for infants toys. It is going to be better now. I believe you should think about the points as below before make the decision.
1) are you well understanding the market that you would like to start your own business?
2) Any channel to find the customers?
3) Any sources/factories that you have a good relationship?
4) Well understanding the market trend.
5) What is the biggest risk that you can take?
6) How long you can stand for without any income during the starting?