Factor Analysis on Entrepreneurial Performances of Northern Sri Lanka

Abstract

Globally entrepreneurs are growing day by day, and they have been gaining higher importance with the economic changes in this SAARC region as well. In Sri Lanka during the post-war era starting from 2010, Entrepreneurship phenomenon has grown significantly, spreading cuts across all industries and sectors. This study focuses on the factors that are influencing Sales Performance of the entrepreneurs who run their own businesses in Northern Province. During the war period many of the small industries were completely destroyed, and are growing once again. In a population of approximately 5000 entrepreneurs in the Northern Province of Sri Lanka, we have selected a sample size of 122 entrepreneurs in the Kilinochchi District and collected the data for this research study. Almost all of them are fully residing in Kilinochchi and conducting day-to-day business operations with the support of their families, neighbours and friends. During the war period many of the small industries were completely destroyed, and are growing once again. Hence, in this context we have mainly focused on small scale businesses that are with a capacity of less than 5 employees, which are mostly household and small scale businesses started between the years of 2013 to 2018. Furthermore, the sample data collected from 122 entrepreneurs were both men and women with respective businesses operating within the confines of the Kilinochchi district. While analysing the data collected in line with this study we have defined and elaborated by using the various data analysis metrics, understood that there are three major factors such as Managerial, Financial and Psychological factors that have the greatest impact on the Sales Performance of the Entrepreneurs. Finally, we hope that this study will be a useful tool to make decisions on development and encouragement of Entrepreneurs in war destructed districts, while guiding them with proper Managerial, Financial and Psychological support to sustain their businesses effectively in the long term.