Abstract
In the present era, women are recognized as successful entrepreneurs through their strong desire, qualities, and capabilities for robust economic development. Due to such an important contribution of women in economic development, we propose to investigate the factors which affect women entrepreneur’s success in Pakistan. Data were collected through structured questionnaires from 181 registered SMEs operating in Pakistan. A conceptual model is developed, while SPSS and AMOS software’s are used for analysis. The results indicate that the internal factors including the need for achievements, risk-taking, and self-confidence and external factors including economic factors and socio-cultural factors have a positive and significant influence on the success of women-owned enterprises. This research recommends Small and Medium Enterprises Development Authority (SMEDA), policymakers, and practitioners to encourage women entrepreneurs to run their businesses for the long term by providing a variety of incentives and supports related to those internal and external factors. Numerous studies have been conducted to test the different factors’ effects on women’s entrepreneurial success, but our study investigated some psychological, cultural, and religious factors that are still almost untouched especially in Pakistan. The current study also contributes to the existing literature through empirical shreds of evidence.
Highlights
Results of the current study reveal that internal factors including self-confidence, risk taking, and need for achievement, and external factors including economic and sociocultural factors have a positive and significant impact on women entrepreneurs’ success in Pakistan
Our study is different from developed economies finding because they (Bastian, Sidani, & El Amine, 2018; Laudano, Zollo, Ciappei, & Zampi, 2018) suggested that these factors cannot significantly enhance women entrepreneurs’ success
The current study concluded that the “need for achievement” factor has a positive and significant impact on women entrepreneurs’ success
Summary
Women’s entrepreneurship is a growing global phenomenon, attracting considerable research attention during the last few decades (Henry, Foss, & Ahl, 2016). does it contribute to economies in terms of job creation and economic growth (Kelley, Bosma, & Amoros, 2010), it is recognized as a source of increasing entrepreneurial diversity in a range of economic contexts (Verheul et al, 2006); as such, it offers a valuable focus for concerted scholarly research.despite the significant contribution of women entrepreneurship in Pakistani context, still, it faces numerous barriers and challenges, which canKhan et al Journal of Innovation and Entrepreneurship (2021) 10:11 hinder them from entrepreneur’s success (Torres-Ortega, Errico, & Rong, 2015). Women’s entrepreneurship is a growing global phenomenon, attracting considerable research attention during the last few decades (Henry, Foss, & Ahl, 2016). Does it contribute to economies in terms of job creation and economic growth (Kelley, Bosma, & Amoros, 2010), it is recognized as a source of increasing entrepreneurial diversity in a range of economic contexts (Verheul et al, 2006); as such, it offers a valuable focus for concerted scholarly research. Less attention has been given to women entrepreneurs in emerging economies despite their sustainable contributions toward GDP (Kelley et al, 2010) and poverty alleviation (Khan, 2014). This research is an attempt to discover factors influencing the performance of women entrepreneurs in this context
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