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How Women Entrepreneurs Can Succeed In Small Businesses
Abstract
This report presents an evaluation of how women entrepreneurs can succeed in small businesses. The report adopted a desk research approach to conduct an extended literature review on the topic. Through the desk research approach 230 pieces of literature were studied in order to retrieve the required information mainly using online desk research (external desk research).
This research approach is important for analysis of known data thereby saving time and money. Detailed analysis of existing literature was used to examine the research questions and objectives. The findings of the study noted that most women across the world face numerous challenges after starting small businesses, but a considerable number of them eventually succeed. The study found that policy makers, family support, internal motivation and academics are some of the pertinent factors towards women entrepreneurs’ successes.
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- Introduction
Entrepreneurship is the main tool towards political, economical, and social sustainability. It contributes to economic development through personal fulfillment and innovations. Entrepreneurship provided the opportunity to accumulate personal wealth, mediate business problems, and create job opportunities. For over years, men have been excelling in both small and big businesses (Ajjan, Beninger, Mostafa & Crittenden, 2015).
This excellence has been attributed to their determined efforts, in addition to their pertinent methods to weather economic doldrums. However, this does not imply that businesses that are run by men do not crumble down. Nevertheless, it implies that men have the capability to rise up again after the collapse. On the other hand, women establish a unique way of handling businesses. They are always careful when handling business and they will take most of their time to see that they accomplish the set objectives.
In the United States, the number of women entrepreneurs is escalating tremendously. Women are alienating themselves from the long-lived stereotype that they are inferior than men (Ahl & Nelson, 2015, p.278). The government of the U.S. has been praising succeeding women entrepreneurs because they have been supporting their businesses besides them being entangled with numerous obligations such as reproductive roles and housework.
Due to affirmative action, women entrepreneurs have been able to secure subsidized loans from banks to support their businesses. The government, on the other hand, has been emphasizing women entrepreneurs have to be supported economically, as they are part of economic development.
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The government also has made education available to the girl child by lowering cut mark for them to join colleges and universities. In 2012, it was recorded that in the University of Atlanta, the number of female students exceeded that of the male students. However, women businesses do collapse, and once they collapse, they are not able to rise up again. Before they rise up again, women mostly undergo many operations to see them rising (Ahl & Nelson, 2015, p.279). Therefore, there has been a concern why women entrepreneurs fail in small businesses.
Several researchers have immersed in this quest to answer this question, but their answers are substantive. Much of the researches have been looking why women are choosing to be entrepreneurs. Some of the findings of some researches argue that the reasons why women entrepreneurs fail in business is because of lack of family support, cutthroat competition from men, and lack of experience or skill.
Therefore, the research wishes to look into drawbacks that specifically makes women entrepreneurs fail miserably in the business (Akehurst & Mas-Tur, 2012, p.2471). In addition, the present study will look into ways on how the problems that make women businesses fail can be reversed. Upon understanding why women fail in small businesses, the research will draw how women will reshuffle themselves toward success in small businesses.
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Outline of the research problem
Statement of the problem
It is notable that the number of women entrepreneurs is many in the society. These women lack the potential to exploit fully market opportunities. There are observable barriers blocking women from pursuing their dreams in small businesses. Many literature reviews indicate that the problem is persisting in the society. Elias & Nolo (2012) argue that a large number of obstacles surround women entrepreneurs. The authors argue that the obstacles that make the women entrepreneurs not to contribute much to the society.
This respective study form the researchers in the literature review in that the focus this time the focus on the social factors. There is a gap in the literature since the researchers emphasize the economic and political issues that block people from succeeding in small businesses. This is because political and economic factors are inevitable in the society. However, social factors such as interpersonal issues make women entrepreneurs to catalyze the situation.
Concurrently, the pieces of literature do not discuss the women entrepreneurs in small business. Rather, the pieces of literatures discuss the reason why men entrepreneurs fail in businesses. Although there are a larger proportion of women entrepreneurs in small business, there is an apparent limited of studies conducted with the main objective to analyze social issues that affect women entrepreneurs in small businesses.
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- Research aim statement
The study aims to investigate how women entrepreneurs can succeed in their small businesses.
- Research Objectives
The following research seeks to achieve the following:
a) Determine factors that make women entrepreneur fail in their small and medium scale businesses
b) Establish what need to be done to avert the factors that hinders small businesses of women entrepreneurs to excel
- The process
The process was mainly external desk research whereby information is derived from online sources. This was practiced using business sites. However, getting 230 sources was not easy with the business sites. Therefore, the process combined the use of libraries such as Proquest and EBSOCOhost to search sources that discuss why women entrepreneurs fail in small businesses (Bruezzese, Gallagher, McCann-Doyle, Reiss & Neil, 2013, p.15).
However, the search mainly searched journals only, and not books or periodicals. Those journals from 2008 to present year were taken into special consideration, as they were attributed to being compatible with the present time.
- Significance of the research
The study aims at finding the extent to which personality, political, social, environmental, and economical factors can make a woman succeed in small businesses (Reddy & Agrawal, 2012). Research aims at giving the appropriate solutions on how to avert these factors to the women entrepreneurs’ advantage. This is because the pieces of literature failed to provide the best method to make women excel in their small businesses (Collins, 2010).
There is a call in the literature review for further research to investigate the impact of policy makers, academic factors, as well as the effects of practicing managers in making small businesses of women entrepreneurs to survive in the market.
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