Exploring the complex interplay of barriers confronting women entrepreneurs: an interpretive structural modelling analysis

Abstract

Promoting the economic participation and empowerment of women is a vital necessity to build sustainable development in India. Numerous studies have demonstrated that female entrepreneurs in the specified area face substantial obstacles, including but not limited to, a lack of formal education, inadequate entrepreneurial training, limited access to capital, a scarcity of skilled and trained workforce, deficiencies in managerial abilities, restricted networking prospects, insufficient infrastructural support, fear of failure, gender-based bias, and the challenges associated with familial obligations. The purpose of this study is to evaluate the interconnected dynamics between the issues stated before and develop a hierarchical framework that identifies the main impediments. The primary objective of this framework is to effectively tackle obstacles and promote the progress of women entrepreneurship within South Asian nations. Using interpretive structural modelling (ISM) as the research methodology, the primary study involved a sample of 149 female entrepreneurs hailing from Sikkim, India. The results emphasise the necessity of implementing comprehensive and diverse strategies to guarantee equal access to economic opportunities for women. This will enable their complete and significant involvement in the economic progress of the region.