The Economic and Socio-Cultural Factors Affecting Performance of Women Entrepreneurs in Bangladesh: An Exploratory Study on Cumilla City

Fatema Akter Jeni

doi:10.47191/ijsshr/v4-i12-21

Abstract

This study was designed to assess the economic and socio-cultural factors that affect the performance of women entrepreneurs of Cumilla city as well as Bangladesh. It also addressed the characteristics of women entrepreneurs and the supports they acquire from the surroundings. A sample of 60 women entrepreneurs engaged in different sectors was taken for the study using stratified and simple random sampling. In the process of answering the basic questions, a questionnaire that include demographic profiles, characteristics of women entrepreneurs and their enterprises, factors that affect the performance of women entrepreneurs was designed in both open and closed ended questions. After the data has been collected, it was analyzed using simple statistical techniques (tables and percentages) and descriptive statistics (mean and standard deviations) and F-Test Two-Sample for Variances. In F-Test Two-Sample for Variances, P value is 0.035433248; which is less than 0.05 (P<0.05); which means that there is difference between variance of two factors in women entrepreneurship. The difference between the two variances is statistically significant. This condition indicates that the sample provides strong enough evidence to conclude that the variability in the two factors is different. F-Test Two-Sample for Variances analysis reveals that there is significant impact of economic and socio-cultural factors on women entrepreneurship The results of the study indicates the personal characteristics of women entrepreneurs which affect their performance .It also shows that lack of financial access, stiff competition, inadequate access to training, access to technology and access to raw materials are the key economic factors that affect the performance of women entrepreneurs. Based on the major findings, recommendations were suggested to existing and potential entrepreneurs, Micro finances and other institutions. Both the government organizations and private sector have a major responsibility to promote entrepreneurship development for women. Without their interventions the advancement of women and women entrepreneurship cannot be achieved.

Highlights

Economic empowerment of women is considered as an indispensable part of development discussions
Bangladesh is a developing country which positioned in South Asian region and is a populated country where about 50% of the population falls below income poverty line
Chowdhury (2001) Deliberates that in current years developing countries around the world, including Bangladesh, have concentrated on raising consciousness about the most disadvantaged group in society - women. Those concerned are slowly realizing that discrimination on a gender issue cannot waste nearly half of its human resources. This growing awareness on the part of the government has led to the implementation of national policies so that a development process involving women in all fields focuses on economic activities, especially entrepreneurial development

Summary

Introduction

Economic empowerment of women is considered as an indispensable part of development discussions. The power of the majority of the female population should point to the necessity of using their full potential for economic growth and development. In this connection, Chowdhury (2001) Deliberates that in current years developing countries around the world, including Bangladesh, have concentrated on raising consciousness about the most disadvantaged group in society - women. Chowdhury (2001) Deliberates that in current years developing countries around the world, including Bangladesh, have concentrated on raising consciousness about the most disadvantaged group in society - women Those concerned are slowly realizing that discrimination on a gender issue cannot waste nearly half of its human resources. According to the UNDP: Human Development Report (2004), A female entrepreneur is a woman who has started or inherited a business alone or with one or more partners, and is interested in taking financial, administrative and social risks and responsibilities and participating in day-

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Conclusion