Gender Gap in ‘Success Factors’ among Entrepreneurs: A Study of Micro and Small Enterprises

Abstract

This study aims to analyse the success factors for entrepreneurship and the differences in the success factors of male and female entrepreneurs, in small and micro enterprises. The research is a descriptive study and the data was collected using the survey method for which the universe encompassed all micro and small enterprises started and developed by female and male entrepreneurs in Indore city (Madhya Pradesh, India). The sample size is 500. The success factors were defined based on fourteen selected variables viz., Good family support, Appropriate qualification, Determination and will power, Inner drive, Vast social network, Got right opportunity at right time, Satisfactory government support, Satisfactory government regulations, Availability of finance, Availability of land, Access to technology, Good health, Long term vision to grow the business, and Effective work life balance. These variables were measured on “ordinal scale”. The success factors were measured using the percentage analysis, and ANOVA was used to identify statistically significant difference amongst the success factors of male and female entrepreneurs. ‘Good family support’ has been found to be the most endorsed success factor (60.7%), whereas the least endorsed has been ‘Satisfactory government support’ (0.6%). ‘Good family support’ and ‘Got right opportunity at right time’ were the success factors endorsed by higher number of male entrepreneurs and for the female counterparts these factors were ‘Availability of finance’ and ‘Satisfactory government support’. Therefore, public policy to promote entrepreneurship needs to be tailored carefully to different groups.