Exploring the Factors on Micro and Small Women Entrepreneurs’ Success in Northern Province of Sri Lanka

Abstract

This study aims to identify the factors that contribute to the success of Micro and small women entrepreneurs in the Northern Province of Sri Lanka. Being 52% of the total population in Sri Lanka, women are still being covered the population. With the consideration of the importance of women entrepreneurship, it is better to identify the factors contributing to the success of women entrepreneurs. A quantitative method was used for gathering information and stratified sampling method was used for collecting data from 284 women entrepreneurs engaged in several activities. In the process of collecting data, a questionnaire was designed to recognize the factors that influence the success of women entrepreneurs in Micro and small enterprises. Further, interviews and discussions also were held with selected entrepreneurs and officers from Divisional Secretariat Offices. After the data collection, the data analysis was made with the help of simple statistical techniques, descriptive statistics and reduction of variables (Factor analysis) by using SPSS package. The results of the study revealed that nine key variables out of thirty one contributes to the women entrepreneurs’ success in Northern Province of Sri Lanka those are motivation, self-efficacy, network, risk taking, financial strength, locus of control, problem solving, leadership and environment. The finding of this study is helpful for the micro and small entrepreneurs as well as researchers regarding the area of women entrepreneurs to further study.