Success Factors and Challenges in Women-Run Small and Medium-Scale Businesses: A Study

ABSTRACT

The purpose of this research was to evaluate the characteristics that contribute to the success of small and medium-sized enterprises in India that are owned and operated by women. In addition to this, the study attempted to investigate the difficulties that are encountered by female company owners, investigate the disparities in the perceptions of success determinants that are held by educated and uneducated female business owners, and get an understanding of the reasons why women choose to launch their own companies. The research used primary data that was gathered via the use of a self-administered questionnaire, and the sample size consisted of 92 female entrepreneurs out of a total of more than 130 participants. For the purpose of conducting an analysis of the data, descriptive statistical methods such as percentages, frequencies, rank orders, weighted averages, and standard deviations were used. A T-test analysis was carried out to examine the entrepreneurs perceptions of the elements that contribute to their success, based on their level of education. According to the results, women believe that the success of their businesses is mostly dependent on personal aspects such as their abilities, business ethics, and the quality of their relationships with customers. Low self-esteem is most often caused by difficulties that are directly tied to a womans gender in the business world. According to the findings of the research, female unemployment is a driving force that functions as a motivational element that drives women to seek entrepreneurship. Additionally, the desire for economic independence acts as a driving force.

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