Factor affecting the success of women entrepreneurs in northern province

Abstract

Even though Sri Lanka has achieved gender parity in educational access, women's economic engagement is still far behind in women-run small and medium-sized businesses. Most women find it difficult to move away from informal SMEs. The purpose of the study is to explore the factors that affect the sustainability of women entrepreneurs in Northern Province. The researcher adopted quantitative research methodology; convenient sampling method was applied to select respondents; and structured questionnaire was utilized to collect data in this study. Exploratory Factor Analysis (EFA) was used to determine the factors affecting women entrepreneurs' success. The result of the study revealed the five factors that hinder the progress of women entrepreneurs in the crisis environment in the Northern Province. Research findings revealed that culture and gender role is the major challenge of women entrepreneurs in the crisis environment; the second important factor is business sustainability, the third factor is lack of priorities and welfare programs, then the raw material is ranked and finally, marketing is ranked as fifth factor. The study offers valuable information to understand the phenomenon of women entrepreneurs in crisis environments. This research revealed considerable implications for decision-makers to understand the problems of women-led enterprises in the crisis context in Northern Province. Women entrepreneurs require training to develop and enhance their business skills and knowledge which will help build resilience building. Second, All governance and nongovernment agencies should address the specific challenges of women entrepreneurs and special privileges to access the resources and services considering their both family and business lives. This kind of support will empower and motivate women entrepreneurs.