Factors influencing on women entrepreneurs’ performance in small and medium enterprises in Sri Lanka

Abstract

Concern over women’s entrepreneurship has grown in recent years, and now there are programs and institutions helping women founders with funds, education, networking opportunities, mentoring, and public policy. The economic growth of Sri Lanka is strongly aided by women entrepreneurs. The majority of small and medium-sized businesses have come up with innovative products and services, and by doing so, they contribute to the development of the national economy. Such small and medium-sized businesses must be established properly to support national development. The objective of the study is to investigate the factors that influence the performance of women entrepreneurs in small and medium businesses of Sri Lanka. This study was performed as a cross-sectional survey, where the data was gathered using a specially designed questionnaire distributed using the random sampling technique, two hundred women entrepreneurs were chosen as the sample. The result had shown that the performance of women entrepreneurs is significantly influenced by their educational background, prior entrepreneurial experience, access to financing, government support, land ownership, tax, business training, access to information, entrepreneur orientation, human capital, entrepreneurship goals, motivational factors, and social and cultural factors. On the other hand, it is discovered that factors such as age, marital status, access to physical infrastructure, and market access are having an insignificant influence on women entrepreneurs’ performance. The findings of the research might be used as inputs for policymakers and to promote an environment that helps women entrepreneurs succeed. Further, the study may aid women entrepreneurs in addressing the variables that affect performance. Hence, they may take steps to enhance it, which will assist in poverty alleviation, promoting wealth & creativity, and creation of job opportunities. The study adds, to the body of knowledge on the factors that influence women entrepreneurs’ performance in small and medium enterprises.