The role of human capital and social capital on the innovativeness of female entrepreneurs

Abstract

In this article, we focus on the aspects of human and social capital in relation to the innovative perceptions of woman entrepreneurs. The research question examines the level of inclination of female entrepreneurs in Slovenia towards innovation. We took the survey questionnaire which was sent to 10,000 female enterprises sampled from a public database using an algorithm to distinguish female enterprises. Applying cluster analysis, 340 women entrepreneurs were segmented into four groups on the viewpoint of their levels of social and human capital. We examined the differences among clusters. The findings indicate that women with higher level of human capital tend to be more innovative. The importance of friends and social networks has been evident in the group with higher level of education (general and business), but with lower level of industry experience. To benefit from women entrepreneurs as promotors of competitive advantage of the national economy, the national policy should assist highly educated and professional women to become entrepreneurs with the mission of new job creation and business growth.