The Role of Finance, Work-family Interface, Societal Support,

Education, Network Accessibility and Market Innovation on

Women Entrepreneurs Performance in Bangladesh

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 Table of Contents

ABSTRACT..............................................................................................................................................4
CHAPTER 1: INTRODUCTION..................................................................................................................5
1. Background of the Study...............................................................................................................5
1.2 Women Entrepreneurship Performance of SME in Bangladesh..................................................8
1.3 Problem Statement....................................................................................................................10
1.4 Research Question.....................................................................................................................12
1.5 Research Objectives...................................................................................................................13
1.6 Significance of the study............................................................................................................14
1.7 Scope of the study.....................................................................................................................14
1.8 Limitations of the study.............................................................................................................15
1.9 Organization of the Thesis.........................................................................................................15
1. 10 Operational Definitions of Terms............................................................................................15
1.10.1 Women Entrepreneurship and Entrepreneurship Perspective.........................................15
1.10.2 Access to Finance (ATF)....................................................................................................17
1.10.3 Access to Networks (ATN).................................................................................................17
1.10.4 Access to Information (ATT)..............................................................................................17
1.10.5 Entrepreneurship Education (EE)......................................................................................17
1.10.6 Societal Support (SS).........................................................................................................18
1.10.7 Market Innovation (MI).....................................................................................................18
1.11 Summary..................................................................................................................................18
CHAPTER 2: LITERATURE REVIEW........................................................................................................20
2. Introduction.................................................................................................................................20
2.1 Women Entrepreneur’s.............................................................................................................20
2.1 Women Entrepreneurs in Bangladesh.......................................................................................22
2.3 Theoretical Foundations............................................................................................................24
2.3.1 Growth Theory....................................................................................................................25
2.3.2 Small and Medium Enterprises Theories............................................................................25
2.3.3 Social Network Theory........................................................................................................27
2.4 Factors Affecting the Performance of Women Entrepreneurs in SMEs.....................................27
2.4.1 Access to Finance (ATF)......................................................................................................28
2.4.2 Work-family Interface (WTF)..............................................................................................30
2.4.3 Societal Support (SS)...........................................................................................................31

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 2.4.4 Entrepreneurship Education (EE)........................................................................................32
2.4.5 Access to the Network (ATN)..............................................................................................34
2.4.6 Access to Information (ATT)................................................................................................35
2.5. Hypothesis Development..........................................................................................................38
2.5.1 Access to Finance (ATF) relation with Women Entrepreneur’s Performance.....................38
2.5.2 Work-Family Interface (WFI) Relation with Women Entrepreneurs’ Performance.............39
2.5.3 Societal Support (SS) Relation with Women Entrepreneurs’ Performance (WEP)..............39
2.5.4 Entrepreneurship Education (EE) Relation with Women Entrepreneur’s Performance
(WEP)...........................................................................................................................................40
2.5.5 Access to the Network (ATN) Relation with Women Entrepreneur’s Performance (WEP). 41
2.5.6 Market Innovation (MI) Relation with Women Entrepreneur’s Performance (WEP)..........42
2.6 Conceptual Framework..............................................................................................................43
2.7 Summary....................................................................................................................................44
CHAPTER 3: METHODOLOGY...............................................................................................................45
3.1 Introduction...............................................................................................................................45
3.2 Research Design.........................................................................................................................46
3.2.1 Study Area..............................................................................................................................47
3.2.2 Respondents and Sampling Framework..................................................................................47
3.2.3 Data Collection Procedures and Field Work...........................................................................47
3.3 Research Instrument.................................................................................................................47
3.4 Data Analysis..............................................................................................................................48
3.5 Conclusion.................................................................................................................................50
References...........................................................................................................................................51

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 ABSTRACT

The company is seen as the key source of value in the marketplace and society.
Entrepreneurship is seen throughout the world as the backbone of economic growth.
Enterprises perceive several business prospects through which jobs are created,
unemployment is reduced and sustained economic development is achieved. The
entrepreneurs' inventive ideas have made progress around the world in different disciplines
such as science, technology and culture today (Gerlach, 2014). The value of entrepreneurship
has therefore been increasingly evident in recent times to governments that put
entrepreneurship at the core of their economic development agenda.
The aim of this Master's thesis is to define the elements that influence Bangladesh's success
and performance. The study is based in-depth interviews, surveys, and online research into
credible published studies, papers, articles, academic literature and journals in a mix of
empirical research. For the sake of analysis and topic explanation, an explanatory and
descriptive method was adopted.

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 CHAPTER 1: INTRODUCTION

This chapter provides the background of the analysis by showing the present performance of
female entrepreneurship in SMEs. The study addresses the performance of small and
medium-sized enterprises (SMEs) in Bangladesh run by women. The problem statement
justifies the need of carrying out this study by correcting deficiencies in the previous
document. The purpose of the analysis, research matters, research aims, theories, importance
and thesis outlines, terms description and, finally, delimitations of the study, is then presented
in this chapter.

1. Background of the Study

The primary source of value creating in the Marketplace and Society is entrepreneurship.
Entrepreneurship is regarded around the world as the foundation of economic growth.
Entrepreneurs perceive many business opportunities, creating jobs, reducing unemployment
and generating sustainable economic growth. The brilliant ideas of entrepreneur in various
areas, such as science, technology and culture, have advanced the world today (Gerlach,
2014). In recent times, therefore, governments which put entrepreneurs' business in the center
of their economic development agenda have become more and more aware of the importance
of enterprise.

Researchers, international development organizations, and decision-makers described

entrepreneurship as a panacea for developed country’s global development challenges. Most

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research has been carried out in the developed and developing world to understand better
business and its impact on economic growth (Van Stel et. l., 2005). Nevertheless,
entrepreneurial growth appears as an area of enquiry and, in particular, analysis into the
conditions that affect entrepreneurial growth and the way entrepreneurial business growth
takes place (Gilbert 2006; Wright and Stigliani, 2013; Achtenhagen, Naldi, and Merlin,
2010). The philosophy of entrepreneurship requires a debate to research the influence of
entrepreneurship on economic growth and understand what defines entrepreneurship
expectations for growth. Over the years, new definitions and categories have modified
entrepreneurship's meaning and calculation. Discipline scholars argue that entrepreneurship is
a diverse concept with multiple interpretations and concepts (Desai, 2016; Szerb et al., 2017).
The lack of clarification on entrepreneurship's role in the economic development phase in the
literature may be partially due to different concepts and indicators of entrepreneurship. The
multi-dimensional essence of entrepreneurship has led to some studies that aim to set limits in
the business sector to understand 'what is not entrepreneurship' (Bruyat and Julien, 2001;
Busenitz et al., 2003, p.298). The impact of other areas, such as strategic management, is
stressed by Hitt et al. (2011) and Ferreira et al. (2015), making it difficult to define the limits
of business discipline. For example, Dividsson (2016) claims that a substantial overlap
between enterprise and small businesses has been observed for some time. However, several
influential reports (for example, Birch 1979, 1987) have pointed out that most new jobs are
generated by a new entrepreneurial company with creative and growth-oriented potential
rather than small businesses per se. Birch's studies have affected a change in paradigm, as
small businesses are necessary to take advantage of the current entry's importance
(Haltiwanger et al., 2013; Davidsson, 2016). In tandem with this change in the model,
Audretsch et al. (2007) maintain that the policy-making community was still focused more on
policies relevant to entrepreneurship than on policies relating to small businesses. Some
recent studies have nonetheless recognized that entrepreneurship is an entrepreneurial
function in businesses, for instance, Corbett et al., 2013; Braunerhjeml et al., 2018. The
development of new economic practices is what entrepreneurship is, according to Wiklund et
al. (2011), irrespective of the form of the economic agent. The literature between
entrepreneurship and creativity is also necessary to note another major overlap. For example,
Hong et al. (2013) relate the enterprise to the degree of advancement in the product, which is
further explored in this study. Despite increased research interest in entrepreneurial growth,
only a few studies have investigated entrepreneurial growth in developing countries (Nichter
and Goldmark, 2009).
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 According to Davidsson (2003), the diversity of entrepreneurship concepts is related to the
multi-dimensionality of the company term. Attempts to describe entrepreneurship is made
with I provisions – human aspects inherent in the process; (ii) behavior: mechanisms in which
innovative businesses are to be found and profit opportunities exploited and (iii) effects –
achievements or defeats. Researchers have identified companies focused on the economic
sphere, i.e., business and social entrepreneurship (e.g., Estrin et al., 2016). Also, as stated
earlier, scientists have wondered whether entrepreneurship is related only to small businesses
or in other organizational contexts and whether the word is related to the goal, the growth,
innovation, and the company's achievement. Baumol (1968) underlined the complexities of
identifying and evaluating entrepreneurs' influence by noting, at the same time, that "the
entrepreneur is, in the case of an economic analysis, one of the most intriguing and
elucidating characters." Four ways to help researchers achieve a concept of entrepreneurship
are defined by Casson and Wadeson (2007). In its opinion, the position, including the owner's
role, the personal qualities, including personalities, and the actions, which involve an
individual's leadership competencies, need to be evaluated to classify someone as a business
entrepreneur. The position, like personal characteristics, shall be affected by the purpose. The
feature, the position, and personal characteristics are then combined with the entrepreneur's
distinctive behavior. Entrepreneurship is characterized in the form of decisions at individual
levels involving practices such as autonomous jobs (Blanchflower 2000), development of
new businesses, such as Garnter, 1988; Reynolds et al., 2005) and the identity of prospects in
the sector (Shane and Venkataraman, 2000; Kirzner, 1973). A decision-maker such as
Casson, in 2005, and an imaginative person, then an explorer, an explorer and a builder of
relations like Shackle, 1979, as a 'business orientation' of man and enterprise (Lumpkin and
Dess, 1996; Davidsson, 2015). (Baumol, 1968). Schumpeter, 1934. The following columns
describe the idea of entrepreneurship from Cantillon's period more thoroughly and
extensively.

Richard Cantillon was the first economist to see the businessman as the main motivator. He
adds that an arbitrator is an entrepreneur who balances the economy with risk and
uncertainty. In theory, an entrepreneur is not a productive force but an individual that takes
risks to balance supply and demand in the economy. The Marshall Corporation was like the
"genius," a company that he considered a special class. They are intimate, over-coordinated,
over-innovative and risk-prone. They are artless. They are artless. He differentiates between

7
management and entrepreneurship (Cuevas, 1994). Schumpeter then argued that an
entrepreneur is an innovator. He says that an entrepreneur does not generate new
combinations, but can determine the development of new combinations. He stated that
contractors move away from the economic system's static balance by developing new items
or manufacturing techniques and redundant other products. It is referred to as creative
destruction and is considered a driving factor for the evolution of capitalism.
Establishing micro and small businesses has become increasingly popular in the twenty-first
century as a means of promoting entrepreneurship. Women-owned micro and small
businesses have a long history of making a significant contribution to national growth and
well-being through providing jobs, wealth, and inventions (Mozumdar, Van Der Velde, &
Omta, 2020). Ethiopian government documents such the industrial policy, MSE development
strategy, and the growth and transformation plans I and II recognize the significance of
businesses owned by women entrepreneurs (Meressa, 2020). Women-owned SMEs continue
to be a source of worry despite increased interest among women in starting and running their
own businesses, which has led to both growth and performance issues (Awoke, 2019).
Numerous variables have affected the performance of women-owned SMEs, as well. In
Bangladesh, the number of women interested in business has increased, but their success is
still negligible (Meresa, 2018). To find out what factors influence women entrepreneurs'
success, a thorough and ongoing study at the national, city, and company levels is necessary.
This will allow for targeted and long-term assistance for the businesses (Awoke, 2019;
Gizaw, Tsega, & Hailegiorgis, 2019; Tekele, 2019). The results from several research have
shown that there are a few determinants that affect MSE performance in various locations of
Canada. A few examples include the research carried out by researchers like Abdissa and
Fitwi (2016), Aemiro (2019), Assefa and Cheru (2018), Gizaw et al. While discussing the
challenges faced by MSEs as a whole, many studies fail to take into account the potential
variations between women- and men-owned SME.

1.2 Women Entrepreneurship Performance of SME in Bangladesh

This study was conducted to understand the women entrepreneurship performances of SME
in Bangladesh. Though the previous article is only focused on the challenges and
opportunities. The journey of entrepreneurship, condition and the importance women
entrepreneurship in Bangladesh has been explained.

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 After Bangladesh's bloody free-market war, more than three decades have passed.
Freedom generated great expectations for rapid industrialization to accelerate economic
growth. In order to guide emerging entrepreneurs, successive governments have announced
from time to time industrial policies that take account of the changing needs of the country.
Announced in 1972, the primary industrial policy highlighted the role of both the public
sector and the role of the private sector. Since the announcement of the first industrial policy,
private sector investment was limited to the investments of only the 2.5 million USD ceiling.
The policy has several times been revised and changed. In 2005 we announced a last
industrial policy. The Government reiterated its strong commitment to fast industrialization
and extended more liberal aid to entrepreneurs and made the government's role as facilitator
rather than regulator clear in policy. The Bangladesh government has given priority over its
policies to privatization, particularly for the development of small, medium and micro-
industries. Human Resources development efforts must be supported by necessary
appropriate implementation measures for existing and potential entrepreneurs. The country
has innovative grassroots income-generating schemes, but inadequate programs of business
enterprise development at the advanced level have been detected. It is important that
production activities, especially industrialization, create incremental wealth. Rapid
industrialization is an indispensable necessity in creating jobs to address critical education
and job losses.

Bangladesh is a heavily populated, resource-limited country with greater socioeconomic

stratification. Economic, political and social recognition is handled in accordance with the
WED (2001) on the basis of gender, class and situation. The metropolitan areas are more
likely to expand business whereas rural areas are behind. Almost half of the population is
female (sex ratio 106). Because few women take part in economic activity, the huge potential
of the public is not used. For example, of 66% of self-employed women, just 16% are
independent (based on entrepreneurship status). In rural Bangladesh, new classes are
growing, women entrepreneurs who have accepted the daily obstacles and emerged as leaders
in socioeconomic growth, earning their own living and their families and contributing to
women's socio-political development. Consequently, entrepreneurship in both rural and urban
areas has become a significant career for women. Females work for different small and
medium-sized firms in metropolitan regions, such as crafts, fashion houses, saloons, home
textiles, food, cooperatives and chain stores (Ahmed and Moudud-Ul-Huq, 2013). As
entrepreneurs, areas are self-employed in the agricultural and non-agricultural sectors. These

9
activities include cultivation, cattle breeding, poultry breeding, fish farming, planting of
nursery and tree, tools, crafts, food processing, customization, rice processing and so on. But
the operation of these firms is not so straightforward because they are covered by several
challenges which function as an obstacle to female entrepreneurship growth and
development.

Although the focus is on gender and women's empowerment prospects, Bangladesh has been
making a major effort to integrate women into its financial markets. Bangladesh is
considerably different from the broader FFA objective in terms of the inclusive financing
method. Bangladesh Bank, the Finance Ministry, the Industry Ministry and other authorities
have developed specific work towards this goal to recognize that sustained growth would not
be possible without assuring women's involvement and increasing their entrepreneurial
capabilities. For example, Bangladesh Bank has issued a policy that permits women
undertakings for flat-rate lending to make their lending easier (i.e., + 5%). At the same time,
banking and financial institutions are only authorized to lend up to 2,500,000 BDT in their
own right when they are a dominant business unit for women and men. While women
entrepreneurs still have not sufficient participation in the financial sector and continue to face
many market access challenges, recent studies have demonstrated that these policies are
gradually creating an atmosphere for enterprises which will help women to participate in
small and medium-sized enterprises ((Braun, 2011; Rahman et al., 2011).

1.3 Problem Statement

Literature shows that entrepreneurship contributes through innovation, change and
competence to economic and social development (Alene, 2020). Studies also show that
entrepreneurship plays a major role, especially in job opportunities, in economic growth and
development. Many governments are seeking to encourage and direct entrepreneurs to the
maximum possible use of the facilities and achievements of research by entrepreneurs only as
their role in the economic development is central.
Businessmen with their skills to spot opportunities and opportunities are seen as pioneers of
economic and social growth and development in this business context (Ghavami and
Lotfalipoor, 2008).
Small and medium-sized companies are formed, with large volumes of economic deals and
workforce allocated and a large part played in the country's socio-economic development. In
this development strategy, development of small and medium-sized enterprises is considered

10
to be a key element. The matching development of SMEs is considered crucial for double-
digit production growth. Enhanced rural and backward micro, small and medium-sized
enterprises are a key component of rural development, poverty and regional disparity
strategies (GOB 2011). In order to alleviate rural poverty, the role of the small business
sector is immense. In densely populated countries such as Bangladesh, small and medium-
sized enterprise companies are especially suited for providing large-scale jobs with much
lower capital investment. They are expected to create jobs, reduce poverty and lead to a
robust domestic economy.

The Country Report (2012) of the International Monetary Fund (IMF) states that
Bangladesh-based SMEs account for more than 99% of the industry's private sector and
create employment opportunities for 70% to 80% of the non-agricultural workforce.
Although SMEs play a dominant role in Bangladesh's national economy, they are expected
not to flourish in Bangladesh since there are several problems, such as lack of institutional
funding, lack of infrastructure, lack of knowledge of technology, poor managing and
engineering skills and lack of encouragement for women entrepreneurs and social support. A
country may have resources, but the development problem is putting these resources into the
production process. Although natural and physical resources are available, machinery and
capital can be under-used or misuses if human resources are not appropriately used (Hossain
& Rahman, 1999). Developing entrepreneurship is clearly a prerequisite for the development
of a nation of all kinds.

In addition, the development of entrepreneurship for women is the main variable that links
the socio-cultural environment to economic development. As Bangladesh is a developing
country with 30 per cent of the population below income poverty, without women's active
engagement in the economy Bangladesh cannot reduce gender inequality. Women can
participate in business activities in which they can contribute directly to their family and
economy. Women make up over half the population and the socio-economic growth of the
country can therefore profit from a huge potential. In this respect, Chowdhury (2001)
addresses the importance of awareness of developed countries all over the world, including
Bangladesh, among the most disadvantageous groups in society in recent years. All involved
have gradually learnt that approximately half of society's human resources are incapable of
discriminating against sex. The increasing awareness of government has led to national
policies to assist a process of women's growth in all areas with a special focus on business
development. In Bangladesh, business has become a significant occupation among women at

11
many levels in society. Entrepreneurship development is difficult and requires numerous
courses and examinations. One of the key tasks in encouraging entrepreneurship for
economic growth in our country is to identify the difficulties that entrepreneurs confront. The
evaluation and identification of these hurdles can be utilized as a guide for developing the
strategic and business context further. The paper evaluates many problems and impediments
to entrepreneurial development in Bangladesh on the basis of empirical data analysis.

The concept of social capital theory has induced a new and significant challenge for dominant
paradigm of economic growth. Robert Solow's neoclassical growth model recognized
physical capital as the most commonly accepted idea as a source of economic growth.
Whereas the endogenous growth theory of Paul Romer (1986) injects into growth model a
new factor, knowledge and pattern, nothing like social capital has changed the generation of
growth. However, in recent Putnam (1993, 2002), on the basis of the contributions of Jacobs
(1961) and Coleman, the importance and relevance of social capital have been recognized
(1988). However, a key constraint on social capital is that the impact on economic
performance is not unequivocal. That's because all-embracing social capital. The same social
capital can in particular function as an obstacle to change and entrepreneurship that can
encourage the maintenance of the status quo. The objective is to propose a certain
comparable, although clearly different, concept of entrepreneurial capital.

Corporate capital is a certain sort of social capital and relates to an enterprise's ability to
generate business. The study in particular indicates a positive impact on regional economic
performance on high entrepreneurial endowments. This study introduces business capital
performance and explains why regional economic growth should be promoted. In the Asian
region, there are many women. However, the region still does not make very good use of
them contribute much too economic development. One of the causes for this could be women
entrepreneurs in small and medium-sized companies. Although the largest proportion of
female entrepreneurs in small and medium-sized businesses in the region, particularly in
Dessie, is acutely lacking in studies aimed at analyzing the performance of female companies
in terms of personal and organizational performance, economic, social, and administrative
activities in Bangladesh. This study is intended to address the gaps by providing particular
variables for evaluating the performance of female entrepreneurial SMEs and shades of light
on women's distinctive performance gains by analyses various determinants in Bangladesh.

12
1.4 Research Question
Is women entrepreneurs restricted by financial issues the primary subject of research?' and
are these limitations impair the company's sales performance? The study considers that
women are generally confined by social, economic and political variables from the common
sense perspective, but we have inadequate knowledge on the extent and potential impact on
company development. Taking into account the latest women's entrepreneurship promotion
measures. Access to financing has little impact on the formation of sales and capital. The
orthodox assumption, therefore, that access to finance will help encourage entrepreneurship
among women through the promotion of sales and capital development, presupposes the
alternative hypothesis.
Based on this study it is thought to assess the different factors that affect the performance of
women entrepreneurs in SMEs in Asian region. In light of this, the study attempts to answer
the following basic questions:
1. How can Access to Finance (ATF) influence the Women Entrepreneur’s Performance
(WEP) in Bangladesh?
2. How can Work-family Interface (WFT) influence Women Entrepreneur’s Performance
(WEP) in Bangladesh?
3. How Lack of Societal Support (SS) affect Women Entrepreneur’s Performance (WEP) in
Bangladesh?
4. How Entrepreneurship Education (EE) affect Women Entrepreneur’s Performance (WEP)
in Bangladesh?
5. How Access to the Network (ATN) affects Women Entrepreneur’s Performance (WEP) in
Bangladesh?
6. How Access to Information (ATT) affect Women Entrepreneur’s Performance (WEP) in
Bangladesh?
7. Is Marketing Innovation moderate the relationships between antecedents (ATF, WFT, SS,
EE, ATN, and ATT) and Women Entrepreneur’s Performance (WEP)?

1.5 Research Objectives

Researchers and politicians have always concentrated on economic growth determinants
(Wennekers and Thurik, 1999; Hasan and Tucci, 2010). The newcomers who have entered
new and existing sectors with creative items, new technology, or new business conditions
have shown that Schumpeter (1934; 1942) will promote economic growth. The study of
Schumpeter has contributed to several theoretical and analytical investigations on the

13
influence of industrial economic expansion (Urbano et al., 2018). However, Baumol (1990)
highlighted a significant shortcoming of the literature, which proposed that researchers
differentiate between efficient and 'unproductive' business activity. According to Baumol
(1993), productive entrepreneurship is all business practices that directly or indirectly
contribute to the economy's net production or productive enterprise activity. Baumol (2010)
implies that organizations with creativity, i.e. creative business projects, generally have
prosperous businesses. Unproductive commercial practices, by comparison, are primarily
related to the use of the juridical method for rental hunting (Baumol, 1990). Although it is
proposed that productive entrepreneurship has a more substantial impact on economic
development (Bosma et al., 2018), there is insufficient proof that this is impacting the
economic economy or, more broadly, that there is a difference between productive
entrepreneurship and other forms of enterprises.
In comparison, the literature on entrepreneurship creation expectations remains inadequate
(Hermans et al., 2015). Two identified shortcomings in the literature on
entrepreneurial/economic development and business expectations sparked this investigation.
The study also focuses on two-fold innovative entrepreneurship driven by growth.
Accordingly, the thesis has the following specific objectives:
1. To examine the influence of Access to Finance (ATF) influence the Women
Entrepreneur’s Performance (WEP) in Bangladesh.
2. To measure how Work-family Interface (WFT) influence Women Entrepreneur’s
Performance (WEP) in Bangladesh.
3. To examine the influence of Societal Support (SS) affect Women Entrepreneur’s
Performance (WEP) in Bangladesh.
4. To measure how Levels of Skills, Knowledge, Relevant Education and Experience (EE)
affect Women Entrepreneur’s Performance (WEP) in Bangladesh.
5. To measure how Access to the Network (ATN) affects Women Entrepreneur’s
Performance (WEP) in Bangladesh.
6. To examine the influence of Access to Information (ATT) affect Women Entrepreneur’s
Performance (WEP) in Bangladesh.
7. To examine the influence of Marketing Innovation moderate the relationships between
antecedents (ATF, WFT, SS, EE, ATN, and ATT) and Women Entrepreneur’s Performance
(WEP).

14
1.6 Significance of the study
This study is expected to be important for women entrepreneurs, since it outlines factors
affecting entrepreneurial women's success. The survey was helpful in alleviating women
entrepreneur’s problems in Bangladesh. Financial institutions will produce goods tailored to
the financial needs of women. They also influence social responsibilities in women's groups
through the financial institutions. In addition, the knowledge obtained in the study will
provide policymakers and planners at different levels in the country with useful guidance.

1.7 Scope of the study

The study is restricted to the small business sector specifically the quest factors influencing
women entrepreneurial in Bangladesh. It's encouraging to see a new generation of female
entrepreneurs in Bangladesh rise to the occasion by embracing the rigors of a male-
dominated, competitive, and complex economic and business landscape. Considering
Bangladesh's current human resource endowment, it can help spur the growth of the country.
For this process to be accelerated, entrepreneurship is required in spades. The
industrialization process can be accelerated by corporate initiative that possesses virtual
properties. It is possible that policy initiatives will motivate women in the workforce to
achieve this goal.

1.8 Limitations of the study

Although various attempts were made, during this study the research faced many challenges.
Firstly, it leads to negligence in the questionnaire to the fact that the majority of the education
record of the respondent is poor. Some respondents do not send the questionnaire values, and
some respondents return the questionnaire fully. In addition, some others see the
questionnaire politically despite guidelines. In addition, given the tight work being done by
respondents, some were not ready to complete the questionnaires as well. Finally, when
respondents were dispersed around various places, they encountered some difficulties with
guidance, follow-up and answers. These factors may also influence certain aspects of the
content of the document.

1.9 Organization of the Thesis

The report of this study is organized in the following steps. The first chapter introduces the
background of the study by providing an overview of Entrepreneurship challenges and
understand the performance measuring. The debate of female entrepreneurship in the Asian

15
region is followed by the discussion as an area of research. The problem statement justifies
the need for the study to address the gaps in existing studies. The problem statement The aim,
research issues, research goals, and research hypotheses, importance of the study, the outlines
of theses, definition of terminology and, lastly, the bounds for the investigation, are discussed
in this chapter. Reveals the problem and the setting of the study. The reasons for the study are
provided. Chapter two provides an overview of the literature, summary and research gaps
pertinent to this subject. The methodologies for investigation and data gathering and analysis
are described in Chapter 3. It presents the design of research and the techniques for the study.
First, the research paradigm explains why the quantitative approach is used in this study.
Secondly, the study is designed that includes the use of the data collection retrieval survey.
Thirdly, the population, sample and sample techniques employed in the study are discussed.
Chapter four contains data presentation, analysis and discussion and the summit, results and
suggestions of the study are presented in Chapter 5. The last section of the study is covered
by references and appendices.

1. 10 Operational Definitions of Terms

1.10.1 Women Entrepreneurship and Entrepreneurship Perspective
The first economist to consider the businessman as the main economic driver was Richard
Cantillon. He says a contractor is an arbitrator, who balances the economy with risk or
insecurity. An entrepreneur is not a factor of development in his theory; he is an agent who
risks balancing supply and demand in the economy (Iversen et. l, 2008).
Marshall equated entrepreneur to the "genius" business, which he regarded as a particular
class of people. They have specific personal features like artlessness, superior coordination
and innovative capacity and risk-prone. He does not distinguish between entrepreneurship
and management (Cuevas, 1994).

Schumpeter subsequently argued that a contractor is an innovator. He points out a

contractor's capacity to identify how new combinations can be used during development does
not inherently invent new combinations. Furthermore, he argued that entrepreneurs are
moving the economic system away from the static balance by producing new goods or
methods of production, rendering other products redundant. The creative destruction is
considered as the driving force behind capitalism's economic growth (Iversen, Jørgensen &
Malchow-Møller, 2008).

16
 The term businessman meaning to do something, is developed from businessman (Long,
1983; Swedberg, 2000). The study focuses on this doing, in which performance is doing. The
term entrepreneur is interpreted as an intermediate or intermediate in the Middle Ages
(Hisrich, 1990, p.209). This became the respective noun in the 15 th century – entrepreneur,
who used this term formally for the first time with Richard Cantillon, a French economist. He
described the contractor as an arbitrator, who purchases for a certain price and wants to sell at
a precise price (Blaug, 1986). The contractor was defined as one self-employed by Cantillon.
The mention of uncertainty from Cantillon may be seen as an attempt to emphasize the
difference between self-employed and self-employed; (Long, 1983). Aron (1950), who drew
on Marx's reference to economic categories for categorizing his worker, also highlighted a
further distinction between the entrepreneurs and employed. The categories were first, the
ones which work for entrepreneurs, the employees and, secondly, the categories which own
the production facilities known as entrepreneurs. This distinction separates the contractor
from the group (Zaleznik, 1977). The different perspectives of entrepreneurship are laid down
to understand the entrepreneur further and what they do. In entrepreneurship literature the
main points of view are the perspective of functional resources, the psychological perspective
and the behavioural perspective.

1.10.2 Access to Finance (ATF)

Capital is a very important element of production and without it no business can survive.
Access to financing is one of the obstacles to the growth of women entrepreneurs.
Entrepreneurs are facing various financial restrictions, including higher borrowing rates,
higher bank charges, inadequate collateral and weak family background. The inaccessibility
of credit and the growth of women entrepreneurs was greatly affected in the city of Iringa and
elsewhere in the world. The loan cap has a gender perspective (Arius and Minniti 2005).

1.10.3 Access to Networks (ATN)

The network is an important factor affecting women's companies under UNECE (2004;
Mahbub 2000). With a strong network of important people, any business without many
entrepreneurs is a key to the success of the company. Women have less corporate
connections, less experience of how to negotiate with governmental bureaucracy and less
negotiating capacity. Since most women entrepreneurs work on a smaller scale and are not
usually members of professional associations or members of other networks, knowledge is

17
often difficult for them to obtain. The majority of current networks are masculine and often
not especially welcome to women.

1.10.4 Access to Information (ATT)

According to Ewoh (2014), female contractors in developed nations are unable to lobby
policies for their companies, with little or no access to policymakers. Men can easily
influence strategies and choices for large corporations because they have access to
policymakers known as their peers. Moreover, most women are not leaders of major business
organizations in developed countries. This limits their access by lobbying and negotiation to
decision-making.

1.10.5 Entrepreneurship Education (EE)

The reasons for improved success, productivity and development are education and training.
Many articles of research show that women entrepreneurs are less educated than men. Ewoh
(2014) states that entrepreneurs with the requisite education and skills have the ability to
improve market performance in a specific business field. But it is harder for women than men
to receive proper education and training because most women entrepreneurs have other
commitments such as family and household duties, which take great time. Consequently, lack
of adequate education and training, lack of management skills and experience generate
problems for women to succeed. Restricted access to expertise and training is, according to
Nieth Amer (2013), one of the biggest obstacles to the progress and development of women's
companies.

1.10.6 Societal Support (SS)

Social attitudes towards the cultural and religious convictions in developing countries do not
often favor working women or enterprising women (Jamali, 2009; Baughn et al, 2006;
Vossenberg, 2013). In developing countries, entrepreneurship is perceived to be a suitable
career choice for males and not women.

1.10.7 Market Innovation (MI)

An important characteristic of the contractor has been innovation (Rauch and Freese, 2000;
Rieger, 2012). Another Schumpeter study (1939) showed that entrepreneurs are ingenious
and knowledgeable as innovators (LeBlanc, 2013). Peprah (2012) highlighted the need of
innovative entrepreneurs because the absence of properties could cause women entrepreneurs

18
to have a small survival rate. Hassan et al. (2014) understands the ability of entrepreneurs to
propose and develop new ideas to their companies with creativity and innovation. Women
entrepreneurs encounter several barriers to business development, as has already been
mentioned. However, undertakers tend to be more innovative to tackle their business success
and growth challenges (Bakri and Mardziyah 2012). In addition, the promotion of women's
products and services is typically perceived to be more inventive. Innovation is one of the key
success criteria but also the effects for female entrepreneurs should not be overlooked (Lai et
al., 2010).

1.11 Summary
This study mainly analysis the performance of women entrepreneur in the Asian region.
There are five chapters in this work. Chapter One highlights the problem and its context. The
reason for the study is given. Chapter two reviews the literature, syntheses and research gap
that are pertinent to the topic. Chapter 3 addresses research and data collecting and analysis
technique and processes. The presentation, analysis and debates of data, while the summary,
conclusions and suggestions are provided in Chapter Five. The last section of the study is
covered by references and appendices.

19
 CHAPTER 2: LITERATURE REVIEW

2. Introduction
This chapter reviews the literature to understand the importance of empowerment by
entrepreneurship for women. Since the 1970s, issues relating to empowerment and gender
equality have been on the international development agenda. Recently the WDR (2012)
highlighted the importance of empowering women and equal rights as a key lever for poverty
reduction and the impact of development (Wu, 2013). Entrepreneurship is an effective
poverty reduction strategy and also offers women several benefits. No significant changes
have been made to women's position despite the opportunities offered by entrepreneurship
and increase in entrepreneurial activities.

20
2.1 Women Entrepreneur’s
Empowerment and participation of women are essential to the expansion of women's rights
and the control of their lives and their social influence. Capacity building is one of the
important dimension of capacity building. While female empowerment definitions have an
economic dimension, this dimension has been increasingly apparent in recent years in the
discourse on international politics (Kabeer, 2012). Various researchers and organisations
have defined economic empowerment in a number of ways. The concept of empowerment
and economic advancement is combined in a simple term.
The Department of Foreign Affairs, Trade and Development's Guidance Notes (2013)
explains that approaches to economic empowerment are concentrated on market success and
promotion factors women need, such as enhancing skills, improving their production
resources, and supporting women making and acting their own. In particular economic, social
and political intertwines, the dimension of empowerment is shown in the previous section. To
achieve economic empowerment, women's social and political empowerment must be
engaged in parallel. In addition, the guidance notes indicate that the economic empowerment
approaches should take into consideration social and cultural factors underlying these factors,
for instance, unpaid and unequal distribution of home and care work, limited mobility and the
prevalence of sexual and gender violence, which reduce the capacity of women to interact
with and benefit from the markets. Only by this way will women's lives be improved, their
social, financial and political status enhanced and gender equality strengthened to develop
inclusively, sustainable development and a healthier society (UNCTAD, 2014).
The guidance notes (2013) allow women's access to formal employment, self-employ,
borrowing, saving and accessing and monitoring economic resources to be identified as key
elements of their economic empowerment. Women are financially empowered by the ability
to succeed, economically advance, as well as their power to take economic decisions. Sida
(2009) defines women's economic capacity as 'the process that increases women's real power
over economic choices that affect their lives and social priorities.' Economic empowerment of
females can be achieved by equality of access and control of critical economic resources and
opportunities in the labour market and eliminating structural gender inequalities. The
Women's Economic Empowerment, CESO Perspective (2013) has expressed similar
definitions: Economic empowerment for women is a process that has two dimensions at its
core: resources and chance. All the assets that women need to achieve economic progress are
productive resources. But women do not automatically become economically empowered
even when they are equipped with productive resources. You must also be able to use these
21
assets in any way you choose. Opportunity refers to the power of a woman to take and take
decisions that enable her to achieve valuable economic results." Many development agencies
and institutions (such as the World Bank and the United Nations) also assume that women's
empowerment inevitably results (Pillai et al., 2012).
Women have benefited from economic growth in many different countries. Some of them
have taken their way into the "higher levels in economic decision-making (Kabeer, 2012),
which confirms the link between economic empowerment and women's growth. One aspect
of economic empowerment, as seen above, is to provide a business environment that supports
women entrepreneurs, builds income, and is more competitive and profitable. The role of
self-employment and entrepreneurship in women's economic empowerment is important. To
promote feminine economic empowerment, it is crucial to develop feminine enterprise. An
overview of women's entrepreneurship research is provided in the following section. For
almost all economies around the world, but especially for those in developing countries,
women entrepreneurs in SMEs are of particular importance, particularly to those with major
challenges in the job creation and distribution of income. Within what can be called the
"static" front, women entrepreneurs in mixed-economy enterprises contribute to output and to
creates "decent" jobs; they are a nursery on the vibrant front for the major companies of the
future, are the next (and important) step for the expansion of micro-enterprises. Many
companies find prosperity best achieved from specialised businesses in an increasingly
international market rather than diversification. Although most of the major companies in the
world continue to supply numerous markets with multiple services, many components and
goods are now acquired in small enterprises serving one niche. Women entrepreneurs of
SMEs provide an effective tool for growth by participating in global supply chains as the
global market continues to develop (World Bank, 2016).
It sometimes becomes difficult for a person to understand the performance of women
contractors in SMEs with different definitions by different countries. The important role of
women entrepreneurs in SMEs in developing any particular sector, economy, poverty
alleviation, and job creation cannot be known. Moreover, it is particularly important to
provide various everyday items at a reasonable cost. In recent years, the industry's value has
been recognised in many developed and developing countries. Women entrepreneurs in
SMEs are the engine of growth, are critical for a competing and efficient market, are critical
for reducing poverty and have a particular role in developing countries, according to World
Bank (2003) report. The private sector - and especially the female undertakings in small and
medium-sized enterprises - forms the backbone of the market economy. Female entrepreneurs
22
in SMEs are being encouraged to restructure large companies by simplifying manufacturing
facilities because units with no direct link to the main activities are being sold separately. The
efficiency of a remaining company can therefore be increased; it curbs the monopoly of big
companies, provides complimentary services to them, and absorbs modern economic
fluctuations; and it raises skill levels with its flexible and innovative nature through inter-
enterprise cooperation. To create a skilled industrial base and industries to develop a well-
prepared service sector capable of contributing to GDP, women entrepreneurs in SMEs can
generate significant performance.

2.1 Women Entrepreneurs in Bangladesh

Over the last four decades, pressure on national governments has been exerted from every
level of society to end women's poverty. Women play an important role in their families,
communities and countries' economic development (Langowitz and Minniti, 2007; Maru and
Chemjor, 2013). Studies have shown that women's business can be an effective poverty
reduction strategy and an effective tool for women's economic development and
empowerment (Maru and Chemjor, 2013).
Empowering and improving women's status both at home and abroad has been one of the
main objectives of women practitioners in development. A number of women's
empowerment initiatives have been established over time through education, training, access
to health and family planning services, access to legal counselling and so on. The following
sections briefly explain the history of women's entrepreneurship and various perspectives on
empowerment to reflect the significance of women entrepreneur's empowerment. The
empowerment of women in international development interventions has been widely
recognized as an important object. The women's movement has given rise to the concept of
women's empowerment globally and particularly in developing countries. In her 1987
(Malhotra and Schuler 2005) book, Gita Sen and Caren Grown introduced the term
empowerment with an argument that women had to be empowered to challenge patriarchy
and global inequality. The main goal of many development initiatives and organisation is
empowerment for women. However, there does not seem to be a clear definition of
empowerment and tends to understand the meaning in some context (Vera, 2014). Diverse
understandings of the root principle – power in empowerment literature and definitions – may
result in the absence of clear definitions.
Kabeer (2012) says that feminist activists were among those who first widely used the word
empowerment, giving a pretty specific sexual significance. She points out that "while

23
women's issues are rooted in various grassroots mobilisations, feminist scholars helped bring
these concerns into the gender and development agenda. The ability to make a choice is
defined by power. She emphasised the recognition of gender inequality, interconnected with
other forms of socio-economic inequality, such as class, caste, race, ethnicity, location,
religion etc., often compounding the injustices involved. She concluded that women's
empowerment conceptualised in many ways to reflect the mainstream political discourse if
gender equality is part of development policy (Kabeer, 2012).
In terms of economic development and industrialization, entrepreneurship of women has
played a pivotal role. Although the role of female entrepreneurship differs at various stages of
economic growth, its role for developing countries is especially significant. Various business
and socioeconomic problems in Bangladesh are the subject of the following studies. The
author stressed the problems faced by women entrepreneurs in a recent study (Chowdhury
2008), including resource, marketing, raw materials, utility facilities, infrastructure, official
formalities, etc. Another research (Rahman, 2008) showed that online marketing technical
progress is the solution for women entrepreneurs. The government's policies for increasing
the overall online marketing for entrepreneurs in Bangladesh have been analyses by Ahmed
(2008). In her study, Nawazesh (2007) has shown that female contractors believe that
contractors are not born. It can be seen in a nut shell that women have encountered many
problems in start-up and operation companies. They are lonely, disadvantaged, believe in fate
and luck, have no chance in the workplace, have no savings, are extremely poor and hold
away from the edges of supporting niches of NGOs. The idea of an enterprise development
institute has been suggested by Mazumder and Choudhury (2001). Although the authors have
listed the overall problems of managing SMEs, women entrepreneurs do not have any
particular problems at all. They also give minimal suggestions for removing challenges and
developing small and medium-sized companies. Karim (2001) points out that analphabetism
almost totally excludes women entrepreneurs as they are less able to access information to
recognize and evaluate various entrepreneurial opportunities. Their relative willingness to
take advantage of a chance is also seriously hindered. Unable to read, write and count
individual subjects on two risks: first, a greater likelihood of financial exploitation by others
and, secondly, a greater risk of operating in the informal sector. Afsar (2008) has found that
six financial institutions disbursed and refinanced TK 3.9 million (approx. US$56,000) to
female entreprenarians until December 2007, and collected information from various
disbursement reports from Bangladesh Bank. Compared to the total SME funds of TK 6.2

24
billion (around US$ 90 million), women entrepreneurs' funding seems to be extremely small
(only .06 percent). Nawaz (2009) analyses a number of crucial factors in rural Bangladesh's
growth of women entrepreneurship. It describes an institutional-theory-based theoretical
framework focused on three types of factors: regulative, normative and cognitive. Regulatory
factors apply to different government rules and regulations to promote the growth of women's
enterprise in rural Bangladesh. Standards, laws, regulations and principles of culture include
emotional and cognitive influences. Nawaz has numerous policy impacts on how the growth
of women entrepreneurship in rural Bangladesh is to be improved based on an overview of
these factors.

2.3 Theoretical Foundations

According to Stanley et al. (2008), Meta-Regression Methods offers the instruments needed
to classify and measure the degree of publication selection bios in empirical studies, in
addition to integrating the findings of economic research. Such a bias in the selection of
publications comes from researchers seeking significant findings that are consistent with
mainstream economic theories. Gigerenzer (2004) points out "that the concept of publishing
empirical research papers less interested researchers in statistical reflection" leading to the
misuse of statistical significance in empirical studies by Altman (2004) and Ziliak and
McCloskey (2004). In addition, META-REGRESSION METHODS permits the identification
and quantification of the genuine representative impact - net of collection of published
material - as set out in the literature and explains to which extent heterogeneous results,
including methodological approaches and observational methods, steps, conditions, samples,
etc., affect the heterogeneity of the study's characteristics.

2.3.1 Growth Theory

Grossman and Helpman (1991) and Aghion and Howitt (1992) explained growth theory as
that the key driving forces behind economic development, which are endogenously
determined by the decisions taken by economic agents to innovate and seek profits maximize.
The principle of growth is enhancement by human resources, information and technologies
(innovation) (Verspagen, 1992; Ruttan, 1997). The function of information that brings about
new changes in markets is emphasized in recent development theories and empirical evidence
(Audretsch and Keilbach 2008). These theories claim that awareness and information enables
creativity to evolve and eventually create new positive dynamisms in economic life, a key

25
factor for companies to enter markets. Knowledge and information will spur innovative ideas
to be used and marketed by future entrepreneurs who might even leave wage jobs for a new
business opportunity. Entrepreneurship increases competitiveness by increasing the number
of new enterprises. (ii) Entrepreneurship is the mechanism for spill-over of knowledge which
allows for the transmission of the newly generated knowledge to the market and for the
appropriation by new and new ones. Burns (2010), the evolutionary theory says
Business is a multi-faceted and calculated term in more than one way. Certain metrics used
under previous research include self-employment; net income; ownership of companies; start-
ups and new ventures (Van Stel et al., 2005; Carree and Thurik, 2008; Dejardin, 2011).
Recent studies tend to use one single measure of increasing cross-country harmonisation, the
Total (early stage) Entrepreneurial Activity (TEA), provided and promoted by the Global
Entrepreneurship Monitor (GEM).

2.3.2 Small and Medium Enterprises Theories

The nomenclature of small and medium-sized companies is used for the purpose of
understanding the SMEs. Often it is called micro, small and medium-sized enterprises
(MSMEs). SMEs include primarily manufacturing, mining, business and services, and non-
farm economic activity. The concept of SMEs is not widely agreed. Depending on their level
of growth, different countries use various size scales. Total staff, total expenditure and sales
turnover are standard criteria. According to development policy (2003) for SMEs, in
Tanzania, small and medium-sized undertakings are the ones that employ up to four
individuals, in most cases family or Tshs.5 million in capital. The informal sector is the bulk
of micro-enterprises. Small enterprises are mainly formalized enterprises with 5 to 49 staff
members or with Tshs.5 million to Tshs.200 million capital investments. Medium-size
companies hire 50 to 99 or use Tshs.200 million to Tsh.800 million in capital investments. In
the majority of cases a businessman runs SMEs.
Nozioka (2012) has reported that there are firms with less than 50 staff classified as small and
medium-sized companies against powerful chains and large corporations. The country's GDP,
or TZS 6.9 Billion of GDP, is expected to be approximately 27 percent of the SME market.
According to the 2008 Informal Sector survey, more than 2.75 million companies,
comprising approximately 3.16 million people, comprised about 30 percent of the Tanzanian
labour force, operated in the informal sector alone (URT, 2012; REPOA, 2008). Although the
data on the SME sector is quite sketchy and inaccurate, it is already evident in the above data
that the small and medium-sized business sector plays a crucial role in the economy. As
26
SMEs tend to work hard, they build jobs at relatively low investment costs per worker.
Unemployment is currently a major problem faced by Tanzania. It is estimated that there are
approximately 700,000 new employees per year. Of these, approximately 500.000 are school
leavers with very little marketability. Just about 40,000 newcomers to the job market are
working in the public sector, leaving around 660,000 employed to the unemployed and
underemployed. Most of them end up in the SME sector and in the informal sector in
particular. Since Tanzania has a low rate of capital creation, small and medium-sized
companies are the best way to tackle the issue.
The use of easy, inexpensive technology is more efficient for SMEs in the use of local
resources. In making use of and adding value to local resources, SMEs play a fundamental
role. Moreover, developing SMEs promotes economic distribution, and thus encourages the
fair distribution of revenue. In addition, the acquisition, transition and adoption of SME
technology is simpler. Furthermore, due to their lower overhead and fixed costs, SMEs are
best placed to satisfy online marketing demands generated by small and localized markets.
Moreover, in the face of recessions, small and medium-sized companies appear to be more
resilient, since they are willing to take on lower pay temporarily. Compared to large
companies, SMEs have limited capital. They have less money and less trained staff (Storey
and Greene, 2010; Kowalkowski et al., 2013). For small and medium-sized enterprises, lack
of capital is a serious concern. There may be online marketing business orientation,
competitiveness and developments in the broader market environment in connection with
lack of knowledge available. SMEs was seriously affected by these problems (Havlicek and
Kasik, 2005).

2.3.3 Social Network Theory

The theory of social network has tried to understand how class in the society is achieved or
how social capital can be used for individual purposes (Adler and Kwon, 2002; Lin, 1999).
The process of mobilizing and investing capital determines the achievement of rank. This
theory offers two basic types of resources - personal resources, accessible through direct and
indirect network affiliations, and free use of social resources for the user. Combines it with
the social capital of an individual, which is the amount of resources that the person has
directly and indirectly through the use of strong links and weak connections. The theory says
that the relationship between an individual's status achievement and his/her social capital is
determined by two mechanisms (e.g. success in becoming a businessman). The first process
focuses on social capital access. The human capital (experience, education) of the individual,

27
the original role (parental status, prior employment) and the social links of the individual
(e.g., extent of the ties) must decide the scope of the individual's available resources through
its network. The second process is to mobilize social capital in order to gain status and
become an entrepreneur in this case, to make use of social contacts and network tools. The
combination of social capital access and the ability to mobilize these resources determines the
individual's status. Networks are important sources of information on female
entrepreneurship and are increasingly known as a powerful means of developing and
promoting it. Policy makers must promote networking between organizations and cultivate
cooperation and collaboration between national and international networks and facilitate
women in economic entrepreneurship. One of the main reasons for this is that networks allow
for women to meet and learn and learn about entrepreneurs (both women and men). Via the
network, we apply to the sharing of useful knowledge to become a more professional
contractor. This is an individual with a greater chance to recognize and take advantage of a
lucrative business opportunity.

2.4 Factors Affecting the Performance of Women Entrepreneurs in SMEs

Even if women businesses in small and medium-sized enterprises make a great contribution
to a country's economic development, several challenges related to them. According to the
World Bank (2005), the lack of entrepreneurial, management and marketing skills affect
women entrepreneurs in small and medium enterprises; bureaucracy; lack of access to
information and knowledge; problems of access to financial resources/lack of capital; lack of
access for investment (equipment and know-how); failure to comply;
In addition, a study by APEC in Malaysia (1994) shows that women entrepreneurs in small
and medium-sized enterprises face many challenges due to the lack of a broad framework
concerning development policies; numerous agencies or channels in the field of development
for small and medium-sized enterprises (including a lack of transparency in target groups);
inadequate data and development information; Many small and medium-sized businesses still
occupy land or sites not approved for industrial use. The Government and its agencies have
also made available under-utilisation of technical assistance, consultative services and other
incentives. Moreover, the absence of qualified and skilled employees influences production
quality, efficiency and productivity.

28
2.4.1 Access to Finance (ATF)
Financial capital is the most critical element of a new enterprise, its subsequent growth and
performance. In contrast, Fairlie and Robb (2009) suggest that women entrepreneurs are
tending to make less use of startup capital for lifestyle reasons, as argued in some studies that
female entrepreneur are disadvantaged as compared to male entrepreneurs in their abilities to
build capital and provide appropriate financial resources (Verheul and Thurik, 2001). In any
case, the access or use of financial resources by men to women entrepreneurs is significantly
different from that for female entrepreneurs. Entrepreneurs have more obstacles than men to
obtain external funding (Marlow and Patton, 2005). Four areas were identified by Carter
(2000) that may cause problems for women entrepreneur’s access to financial capital. First of
all, entrepreneurs may be unable to raise financial capital from startups. The latter may not,
for collateral requirements or guarantees to obtain loans, suffice the personal assets or track
records of women. Third, it is very difficult for women entrepreneurs to penetrate informal
financial networks, particularly during the growth phase of their enterprises. Finally, access
to external finance may be a major barrier to sexual stereotyping and discrimination.
Research shows that men-like entrepreneurs prefer to use bootstrapping as funding strategies.
Bootstrapping means use by informal income sources like savings, family/friend loans, credit
cards or overdrafts of funds generated internally and personally (Acs et al., 2011; Carter et
al., 2003). Women business people tend not to use or use any credit for formal finance
organizations (Lee and Marvel, 2014). Women entrepreneurs tend to borrow from informal
sources – families and friends, and most financial resources in their firms are borrowed
compared to men by family and friends (Brush et al., 2006). In addition, women
entrepreneurs will probably start their companies with less general capital, use lower formal
funds and are much less likely to use equity or risk capital (Carter et al., 2003; Marlow et al.,
2013).
The majority of new female businesses are established with founders' personal
savings/investments (Bhide, 2000). The survival of most women's businesses is negatively
affected by insufficient foundational capital. Less startup capital also prevents many women
from establishing businesses to contribute to poverty reduction, job creation and economic
growth. Women now constitute significant factors of economic change (Underwood, 2009),
which impedes economic growth because they are unable to access financial start-up funds,
including bank loans, due to their lack of credit records and collateral.
The bank's caution and reluctance are the other obstacles in accessing funding. Cavalluzzo et
al. (2002) argue that a large number of new businesses and existing ones are being created if
29
the bank caution facilitates the creation of more jobs and wealth. Furthermore, if all forms of
finance are eliminated, people discriminated against based on sex, ethnicity and age etc., will
fulfil their business ambitions and contribute to their country's economies. Women
businessmen face barriers to loans, equity financing via risk capital and corporate angels (Lee
and Marvel, 2014). Women entrepreneurs appear to have fewer connections with capital-
supply organizations (Brush et al., 2004). The failure to have a credit record and collateral or
loans security may, according to Rouse and Jayawarna (2006), be a constraint on the part of
future entrepreneurs to demonstrate their financial credibility to private financial institutions
and risk capitalists. Derera et al. (2014) state that, although most financial institutions are
prepared to provide short-term loans, the credit period has implications for the short-term or
long-term plan development of a small business. Although short-term finance is available,
securing capital investments for women business holders still presents more difficulties than
their males do (Hussain and Matlay, 2007). The type, size and position of a female business
and the requirement for funding are significant factors for financing decisions by external
financing agencies, according to Carter et al. (2007).
Researchers also believe that women are generally more risk-induced than their masculine
counterparts (Barber and Odean, 2001; Watson, 2002) and, therefore, invest fewer resources
in their companies. A Coleman study (2002) found that women entrepreneurs are reluctant to
apply for loans, but they are not more likely than men to be refused if they apply. Fairlie and
Robb (2009) also associate a personal preference with startup asset differences. Women are
more risk-free than men, who influence their decisions on the type and amount of finance
they seek (Marlow et al., 2013). Women are often more financially careful and reluctant to
take on the debt burden (Marlow and Carter, 2006; Carter and Shaw, 2006, Marlow et al.,
2013). Social and capital barriers can cause women's risk aversion. Brush et al. (2006) found
that the financial motivation for women entrepreneurs is consistently decreased. Startup
companies with higher startup capital and resources can tackle financial problems and
liquidity problems. Existing literature suggests that women entrepreneurs are less personal
and less likely to pursue debt and equity financing strategies (Lee and Marvel, 2014).

2.4.2 Work-family Interface (WTF)

Research shows that several writers have understood how important it is to take up the role of
the family in women's literature and integrate a "family-integration perspective" (Jennings
and McDougald, 2007). A rich body of literature has emerged from the family context in

30
entrepreneurship: working-family interface literature. There are three reasons for integrating
literature on work-interface into entrepreneurial research, according to Jennings and
McDougald (2007). Firstly, the desire to balance work and life is a great driver for the
company to start both men and women (DeMartino and Barbato, 2003). Second, for all
entrepreneurs well beyond their startup decision, achieving a balance between work and
family is important (Fischer et al., 1993). In conclusion, research shows that family factors
have significant consequences for the working field that entrepreneurial frameworks and
results are incomplete without regard for the relationship between the work and the family
(Edwards and Rothbard, 2000; Powell and Graves, 2003).
Many empirical studies support the family integrity of women's entrepreneurship. Many
studies show, for example, that women are particularly motivated to start their businesses to
balance work and family (De Martino and Barbato, 2003; Hughes, 2005). In the interests of
family works and personal interests, female business owners use their ownership autonomy
(Carter et al., 2003; Fairlie and Robb, 2009; Lee and Marvel, 2014). Other family factors like
childcare, spousal independence, maternity leave and motherhood can influence
entrepreneurship (Tonoyan et al., 2010). Studies showed that women entrepreneurs tend to
have flexible targets and personal or family factors, while male entrepreneurs are financially
motivated—entrepreneurship targets (Fairlie and Robb, 2009).
The way men and women choose to become autonomous children influences (Georgellis and
Wall, 2005). Women remain primarily responsible for family and children, compromising
their flexibility (OECD 2004). Entrepreneurship can enable women to work from home in a
work-liability balance (Hundley, 2000). Although it is more likely that women with young
children enter the business, the presence of young children does not have a significant impact
on men. While studies show how the family cycle can influence the ambition of women to
grow businesses (Davis and Shaver, 2012), most studies have investigated whether
entrepreneurship allows women to balance work with their families. The results show the
difficulties facing women in achieving spousal support (McGowan et al., 2012). In contrast to
the men's male counterparts women tend to spend more time on household and family
responsibilities, and entrepreneurs are trying to manage the interface of the workforce in
various ways.
As a result, women entrepreneurs have struggled to achieve a balance between work and
family, making it a potential limit. The unevenly distributed family burden makes it difficult
for women to balance work and family the uneven distribution of childcare (Bird, 2006;
Cross and Linehan, 2006). Conflonline marketing and stress have been identified as
31
psychological results of family work imbalances (Bruening and Dixon, 2007; Smith and
Gardner, 2007). In addition, social expectations and beliefs put considerable pressure on
women in both developed countries and developing countries in conjunction with personal
and family work balancing issues faced by women entrepreneurs. Women are frequently
discouraged from undertaking the fear that the power structure could change or shift.
Moreover, the challenges in juggling household responsibilities and work responsibilities
could prevent the entrepreneurship of women. Entrepreneurial gender bias may be overcome
by helping and leading more women into entrepreneurship, building trust, and improving
their skills.

2.4.3 Societal Support (SS)

Researchers point to social attitudes based on cultural and religious online marketing that
cannot encourage working or running women (Jamali, 2009). Entrepreneurship is not seen in
many countries as a suitable career option for women based on the business partnership as
male activity (Aidis et al., 2007). Society has set particular gender-based values and
expectations which affect women's career choices (Baughn et al., 2006). Women are seen by
society as the main carers. Women assume more responsibilities to meet the expectations of
society. Women undertake business because it offers flexibility to manage their families and
work in a duties-based career at the same time. Ahl (2007) underlines that women cannot
compete or succeed in a business equally where social mentality considers the company of a
woman to be secondary to the work and family of her husband.
Family effects vary across social and cultural contexts for women's enterprises. Chell and
Baines (1998) report that society is manifested in cultural norms, traditions and religious
practices influencing men and women's roles. Societal views of female sex roles are more
susceptible to risks for women and impact their treatment when they do not follow the
prescribed standards (Kantor, 2001; Welter et al., 2006). They also have problems because of
socio-cultural factors that make their decisions less assertive, less communicative and less
negotiable and supportive. While social behaviour is not the only obstacle to women's
entrepreneurship, Gartner (1985) is recognised as key factors. The attitude of society towards
women entrepreneurs and inequalities between men and women are obstacles to female
entrepreneurship. These barriers result in women's lack of self-confidence, self-confidence,
self-confidence and optimism, creating fear of failure that affects their company. Family and
society often do not promote the business efforts of women (Shah, 2013).

32
The institutional theory explains how businesses operate and act on their choices and
behaviour due to social, economic, and political systems. It suggests that social, economic
and political systems are dedicated to societies that generate gender normative expectations
that inform men and women about their behaviour (Scott, 1995). For example, studies
indicate that society has very few women in science, technology, engineering and
mathematics because of stereotypic views on appropriate academic fields of study for men
and women (Bleeker and Jacobs, 2004; Correll, 2001). Therefore, women entrepreneurs in
high-tech manufacturing are under-represented (Verheul and Thurik, 2001). Baughn et al.
(2006) indicated that when society's attitudes and expectations are widespread and strongly
rooted, they become 'regulatory' in society, explaining why women in certain industries are
missing or why they are less well-served (Vossenberg, 2013).
The structural constraints are very difficult to overcome as they are firmly established in the
social fabric and reflect centuries-old forms of gender discrimination, culturally and
religiously justified (Maneja, 2002). Large studies show that entrepreneurship is likely to be
seen and portrayed as a stereotypically masculine effort. Research shows that
entrepreneurship tends to be presentable as a more appropriate career for men than women in
the popular newspapers (Achtenhagen and Welter, 2011) and academic literature
(Balachandra et al., 2013; Jennings and Brush, 2013). Other evidence shows that contractors
contribute to the sex stereotypes themselves. For example, Verheul et al. (2005) found that
while their real business achievements are widely seen to be enterprising, female graduates
are less likely to perceive themselves as entrepreneurs than their male counterparts. A
growing number of studies show how gender stereotypes can contribute to the understanding
that women have a less favourable assessment of entrepreneurial possibilities, a lower level
of independence, and less business intentions (Gupta and Turban, 2012).

2.4.4 Entrepreneurship Education (EE)

A lack of relevant knowledge and skills could limit businesses' growth potential. Increased
success is likely to be with owners of high levels of human resources (education, abilities,
and experience), social capital and financial capital (income, savings, collateral) (Marlow et
al., 2013). Earlier experience and training are key to business success. The financing choices
of risk capitalists and funding institutions rely primarily on human capital. As women often
lack appropriate training and experience to start and manage a company, they have less
potential for success. Women cannot acquire relevant skills or knowledge because of the
doubles burden of the market and household labour, including childcare responsibility.

33
Capital from entrepreneurship is mainly earned from previous or prior employment. As
entrepreneurs are mainly domestic or non-management entrepreneurs, they are starting their
businesses with lower human, social, and financial capital levels. This affects women's access
to networks and, more importantly, online marketing access to financial resources and
capital/assets that impact their companies' sustainability (Kantor, 2001). Lack of experience
and expertise online marketing online marketing increase the ability of women to enter new
markets. Women entrepreneurs prefer to go to low-skilled sectors that saturate the market
(Kantor, 2001). Many of the literature on female business shows that entrepreneurship
influences the idea of establishing their businesses positively (Singh et al., 2001). Studies
show that only a small number of women entrepreneurs have business skills before their new
company begins (Bowen and Hisrich, 1986; Audretsch, 2012). Women generally experience
less than men (Fischer et al., 1993).
According to Mayoux (2001), the lack of management and business skills, even in the
women's preference sectors, impedes women because their skills are underestimated by
gender stereotypes and discrimination within the training programmes, unequal access to
training and gaining work experience. While women's access to enterprise, enterprise
education, and management experience have progressed dramatically, women still lack
business experience, and their working lives are secondary to their family responsibilities.
The existing literature on women entrepreneur’s education is highly contested. Some
scientists (Singh et al., 2001) conclude that women entrepreneurs are better educated than
most of the population, including men (Cowling and Taylor 2001). Others conclude that the
general level of education of entrepreneurs is equal, regardless of sex, and that real
differences exist in terms of what type of education is received (Naranjo-Valencia et al. 2011;
Li and Liu, 2011). The debate is due to the very small sample sizes of the studies in a
particular geographic area. Researchers say that women choose less specialised subjects when
they see the advantages of education received by male businessmen more widely than
women. When males have been trained mainly technically or professionally, women are not
able to do so. There were also no significant differences in the study of expert subjects
between other authors (Mainardes et al., 2011).
2.4.5 Access to the Network (ATN)
Different studies by De Carolis and Saparito (2006) highlighted the importance of networks
for entrepreneurs. The networks provide access to information and advice sharing and
exchange, which are the main advantages of networks (Hoang and Antoncic, 2003). Failure

34
to access important information could make business or break down. However, the general
exclusion of women entrepreneurs from their networks means that they lose their
opportunities in networking. The reduced network activities of women entrepreneurs also
mean less information or access to potential business opportunities (Verheul and Thurik,
2001).
As most female entrepreneurs have a household or non-management background, their
networks maybe not as well developed or expanding as their male counterparts. Even female
entrepreneurs from paid work will likely face this barrier, as the majority of women hold
lower levels of work. Women's networks are more likely to consist of family members than
men, which indicate that women entrepreneurs rely more particularly on informal networks,
family and friends (Moore, 1990). Housework and child labour isolated and prevents women
from having access to enough network contacts, and these responsibilities force them to
rearrange their networking structures to include friends and family over other forms of
contact. The argument was supported by Orhan and Scott (2001), who pointed out that
women entrepreneurs are the primary source of advice, their friends and ultimately
professional experts.
Past research indicates that gender differences exist in network formation and management
with women who differ from networks and fewer network contacts. Women also prefer only
networks for women and work together from startup to running and growing their businesses
(Carter et al., 2001; Harding et al., 2003). These groups offer mutual support in various ways.
Gender could play a vital role in a group or team situation, says Powell and Graves (2003).
They also suggest that only women's groups can help ease gender-related problems and
improve positive associations of effects on sexual resemblance. However, Powell and Graves
(2003) are not being supported by much evidence. Further investigation is, therefore,
necessary to examine the effects of sexual similarity on same-sex entrepreneurs.
The theory of social capital means that networking has a significant impact on the success of
small businesses for several reasons, including access to information and finance (Madill et
al., 2004; Renzulli et al., 2000). The positive effect of networking on company performance
is empirically demonstrated. For example, networking could lead to a "sustainable source of
competition benefit" (Florin et al., 2003), which could increase the sustainability of new
companies through network support. As far as business support is concerned, membership of
business networks as Chambers of Commerce has a substantial positive effect on company
performance (Davidsson and Honig, 2003). The most successful companies are likely to have

35
access to business support, Larsson et al. (2003) concluded that business support could help
small businesses expand.
Networking and developing relationships with others can lead to entrepreneurial success in
similar circumstances. Carter et al. (2003) found that the key to equity funding could be
knowledge, capacity, and an effective network. Watson (2012) research entitles women to
make more frequent use of family and friend for networks and suggests that establishing an
active network is important in line and only formal networks appear to be having a positive
impact on company growth. The research entitled Gender Differences and the association
with company's performance Wolcock (1998) suggests that social networking can also be
beneficial for raising money and building community spirit based on the relationship between
its members. Entrepreneurs often rely on informal networks, including family capital
security. Tomiura (2007) found that small and medium-sized enterprise businesses could
overcome barriers by promoting business partnerships. Hunt (2010) stated that women
entrepreneurs have been unable to use network support because of lack of knowledge,
difficult physical access and lack of confidence.

2.4.6 Access to Information (ATT)

Information is a key business resource. The majority of small companies have difficulty
accessing information, especially women. New opportunities, markets, suppliers and so on
can be covered. Small companies have no access to information such as large firms by power,
time or resources. Information may be disseminated through informal networks and
associations such as trade guilds, governmental and NGO's. Women entrepreneurs find it
more difficult in the face of time constraints due to family and work responsibilities to obtain
information about technology, training, intervention schemes, alternative markets, etc.
Women often have limited access to information, which is a key resource for starting up and
running a business for various reasons. Access to information is one of the most important
components for empowering women. Include women in external information, and business
networks have worked against factors such as lack of freedom of mobility, low levels of
education, etc. lack network information (Bennet and Richardson, 2005). Some groups of
women have additional barriers to securing access to certain resources that could affect their
companies' sustainability (Bennet and Richardson, 2005).
Informal network contacts are more useful for creating initial support for the emotional and
financial resources, but a diverse network, including customers, suppliers and providers of
resources, can help (Bennet and Richardson, 2005). Social capital impacts the performance of

36
companies in four different ways, according to Santarelli and Tran (2013). First, social capital
can improve access to scarce resources such as finance and expertise (Brush et al., 2004,
2006). Second, social networks can offer the credit and competence of entrepreneur's access
to intangible resources (Bosma et al., 2004). Third, the signalling and reputation of social
networks (Santarelli and Tran, 2013). Fourth, social networks can also help an enterprise
owner through information and advice to decide effectively.
Women entrepreneurs lack access to information for accounting, financial, marketing or
management purposes supporting them. Most women entrepreneurs are tertiary, labour-
intensive, professional and small enterprises (Pardo-del-Val, 2010). Female entrepreneurs
often lack access to advanced equipment to improve productivity due to other limitations
such as information and funding. New machinery or new technology facilities and other
similar factors may discourage women entrepreneurs from new opportunities or expand into
new areas. Access to markets for the purchasing and sale of women entrepreneurs is another
problem due to lack of information. While women are less informed and excluded, access to
markets will be difficult.

2.4.7 Innovativeness in Marketing via Online (MI)

Innovativeness in marketing via online has added a new dimension in the conceptual and
methodological discussion of women's empowerment to the importance of women's
empowerment. Innovativeness in marketing via online is an important tool for women's
empowerment (Huyer and Sikoska, 2003). Researcher indicate that the debate continues to
have a value for Innovativeness in marketing via online, particularly for the development of
women and women. They argue for the empowerment of women by critics and innovation of
marketing system through online advocates. The point out that critics argue that women,
especially in developing countries, face more urgent challenges such as access to healthcare,
improved education, etc. The authors argue that innovation through may be a tool for
providing health and education information. The new innovation in online marketing, namely
mobile phones and computers, dominates the mobile marketing debate, but also traditional
media such as the press, radar and TV systems play a role in expanding the reach of online
initiatives and enabling information to be disseminated. Traditional online marketing tools,
such as phones and mobile telephones, make business and transactions more efficient than the
Internet. The Self-Association Women's in Gujarat, India, supports women in remote towns
through the trade, purchase, and distribution of goods by phone (Quibria, 2002).

37
With the empowerment in Bolivia of indigenous women leaders via the online marketing
project (Wamala, 2012), an increasing number of women leaders at the local, region and
national level were able to gain important political positions. Media like Skype provided
women, indigenous leaders, with an easier and cheaper way to connect; in turn, they
advanced the trust and unity to discuss issues that were most relevant to them." The online
platforms, including blogs and wikis, and traditional media such as radio and TV, enabled
them to communicate their message to the broader public. The overall use of online
marketing empowered participating women to understand better management issues and
technical forms of communication in particular internet resources.
The online marketing plays an important role in linking women businessmen with
information and resources. For example, as Heekes cites (2010), when you want a job, it is
not your immediate family and friends' strong close links which helps you to get a job (family
and friends only know what you already know). Instead, the more advantageous are the
relatively weaker links between distant societies. Online marketing also contributes to the
abolition of intermediary efficiency and access to information and resources and means that
some at the bottom of the pyramid have gone beyond production to innovation (Heeks, 2010).
Online marketing enabled services can also benefit women entrepreneurs by providing
exciting income and employment opportunities for traditionally disadvantaged groups such as
women (Gothoskar, 2000; Mitter, 2000; Quibria, 2002). Extensive research measuring the
effects of online marketing access and use has highlighted the need for online marketing
integration with mainstream health, education and economic development programmes (The
World Bank, 2013). Female Enterprise Resource Point of the World Bank (2013) argues that
the debate is not about including online marketing in development programmes but about
how online marketing s can be efficiently used to support economic and social activities for
men and women alike. There is a gender digital divide, and men are more likely to access
online marketing than women (Huyer and Carr, 2002; Polikanov and Abramova, 2003).
Hafkin and Huyer (2006) stress the importance of promoting women in virtually every aspect
of their lives to use and develop online marketing systems, work, and develop and spread
information and knowledge. Online marketing programs, corporate support programs and
online marketing integration are needed in programs of support (Gill et al., 2010).
Women entrepreneurs can benefit greatly from the Internet through the provision of a
database of women's groups from which women find links, connections, resources and
information and develop partnerships for their services as well as financing, mentorship and
business coaching (Islam, 2013). For instance, support groups formed via electronic
38
newsletter boards can assist women entrepreneurs in establishing social networks for more
information and opportunities, even mitigating the effect of lack of access to capital. The
removal of intermediaries from transactions that lead to higher income for entrepreneurs is
one of the major benefits of online marketing (Islam, 2013).
Technology itself cannot resolve social problems, but access and use of information and
communication technologies can contribute to our global economic and social development.
Women entrepreneurs could be empowered by including online marketing in business
development/support programmes. The following section outlines the theoretical framework
behind this study.

2.5. Hypothesis Development

2.5.1 Access to Finance (ATF) relation with Women Entrepreneur’s Performance
The way in which unregistered start-ups lack access to financing from official lenders is
strongly correlated with firm performance and given the growing literature that can affect
corporate performance, not only because of the high costs for informal loans and the limited
financing available, it can also have a positive impact on corporate performance (Cull et al.,
2007). A dummy value variable 1 is the access to bank loans or credit indicating whether the
company is allowed to fund its business by accessing bank loans or credit lines, and 0
otherwise.
Investment in establishing company financial assets could be beneficial to companies owned
by women. Derera et al. (2014,) point out that different methods for raising capital are based
on certain criteria taken into account by financial institutions when assessing applications for
loans that include "(1) an entrepreneur's experience, (2) the nature and type of company and,
(3) and expertise for the company's own management and operation." These factors tend to
affect female entrepreneurs as there is often a lack of expertise in small business management
and management in women. Less average women's businesses have been identified by Carter
and Allen (1997), Carter et al. (2007) and Brush 1992, as another reason for women
entrepreneurs' reduced use of their bank debt (Coleman, 2000). On the other hand, studies
have concluded that discrimination against women is not evident (Buttner and Rosen 1988,
1989 quoted in Carter et al., 2003). The number of women in the sector in equity finance is
very low, as funders or as entrepreneurs. Since very few women tend to be working in high
growth sectors, few are looking for equity or higher debt financing (Marlow et al., 2013).
According to Marlow et al. (2013), gender cannot be ignored, even though gender is not
discriminated against in relation to bank loans. They justify that because the social
39
expectations of adequate women's work are likely to lead women entrepreneurs into low
knowledge-intensive services, they demand a lower level of finance. Marlow et al. (2013)
further justify women's likely establishment of home businesses or part-time businesses
because of social expectations of women combining economic activity with homework.

2.5.2 Work-Family Interface (WFI) Relation with Women Entrepreneurs’ Performance

Business success depends on support for women in business and management by family
members. In the achievement of women's business goals, the participation of family members
is a decisive factor. Research has shown that the success of women executives with young
children has a dramatic effect on family life (McGowan et al., 2012). Fasci and Valdez
(1998) and Birley (1989) say that numerous demands for women minimize business time.
Few women may devote their entire space and energy to their business with primary
responsibility for children, home and older dependent families (Starcher, 1996). Maysami et
al. (1999); Stoner et al. (1990), found that work and homes are the key stumbling block for
female owners due to the double burden of managing a company and sustaining a family.
Karim (2001) has found that time between the company and the family has been classified as
major start-up issues. Different online marketing on mobility, mostly because of their dual
(house) and three(community) positions and obligations, often adversely affect their access to
the necessary skills, knowhow and experiences for companies ( Ayadurai, 1987). It is based
on women's sexual experiences in education and work and their lack of time to explore and
nurture their proper resources due to the demands of their household and reproductive roles
(Ayadurai, 1987). Longstreth (1987) and McGowan et al. (2012) quoted by found that the
burden on women to combine familial obligations with an entrepreneurial career has caused
women's companies a commercial disadvantage: the inability to manage things adequately
produced a high stress level that held up the business' economic development.

2.5.3 Societal Support (SS) Relation with Women Entrepreneurs’ Performance (WEP)
Social capital is composed of social networks, social rules and social trust (Haynes, Hitt, and
Campbell 2015). (Payne, Moore, Griffis, & Autry, 2011; Putnam, 1995; Ritchie, 2016). We
talk to each other. Studies show that they are important for business success in relation to the
social networks of entrepreneurs – an aspect of the setting in the 5M model (Batjargal et al.,
2013; Davidsson and Honig, 2003; Hanson & Blake, 2009; Haynes et al., 2015). For
example, a crucial way for businesses to compensate for their limited resources is to use their
social networks when beginning a new company (Jones and Jayawarna, 2010; Urbano, Ferri,

40
and Noguera, 2014). Social networks are particularly important in the success and
continuation of women's businesses (Apergis and Pekka-Economou, 2009; Carter, 2000;
Estrin & Mickiewicz, 2011; Gray and Finley-Hervey, 2005; Kwong, Jones Evans, &
Thompson, 2012; Lans, Blok, & Gulikers, 2010; Noguera, Alvarez, Merigo & Urbano, 2015;
Ramadani, 2015; Tlaiss, 2014), in particular in the development of women's businesses.
Women are more likely to solve problems in getting finance for their projects when they have
access to networks (Carter et. l., 2003; Hodges et al., 2015; Kuada, 2009) that can improve
their efficiency. In the case of transitional economies, networking is of particular importance
due to shortage of resource and the impermissible institutions according to Hodges et al.
(2015), Manolova, Manev, Carter and Gyoshev (2006), Manolova, Manev and Gyoshev (14)
and Xheneti and Bartlett (2012). Similarly, Inman (2000) and Tlaiss (2014) indicate that,
primarily due to their highly contextual existence, access to networks is advantageous for
entrepreneurial women in Arab countries. The most economic results in these countries are
determined by informal and social networks (Cunningham and Sarayrah, 1993; El-Said &
Harrigan, 2009). The failure of women entrepreneurs' social and professional networks in the
Gulf countries is an obstacle to their companies' development (Mathew, 2010). Networking is
therefore more important and plays a vital role in environment where institutions are poor and
trust in institutions that are characteristic of developed economies is limited (Danis et. l.,
2010; De Clercq, Danis, and Dakhli, 2010; Prasad et al., 2013).

2.5.4 Entrepreneurship Education (EE) Relation with Women Entrepreneur’s

Performance (WEP)
The professionalism and the number of flexible staff was confirmed to have major effect on firm
success by human resources such as educational level, skills and experience of owners,
management and staff (La Porta and Shleifer, 2014). Suitable competence and skills are key
factors in small business development (Huarng et al., 2012). It is noted that women
entrepreneurs have been taught subjects that are not very much related to their departmental
functions (Cormier et al., 2011) and lack the specialisation required for performing financial-
sector duties (Jafari et al., 2011). This lack of business education leads to occupational
contracted online marketing. Shane and Venkataraman (2000) suggest a greater and better
vision of how to profit women who have studied certain functional businesses (Shane and
Venkataraman, 2000).
Male entrepreneurs are more experts in the past either in jobs with their managers or as
employees in companies similar to those they subsequently create or acquire. These

41
differences are attributable to discrimination or segregation of women in the labour market,
which has taken away the expertise they need to grow and sustain a company. In addition, for
reasons linked to maternity and family responsibilities, women's careers are more likely to be
interrupted than men (Anderson et al., 2012).

2.5.5 Access to the Network (ATN) Relation with Women Entrepreneur’s Performance
(WEP)
Networks are a vital source of social capital and provide a channel for information and
resources exchange that can positively impact the development and survival of a company.
Owners may gain access through social networks to resources and opportunities and get
advice and moral support, which otherwise may not be accessible (Watson, 2012). According
to the social network theory, people can interact with individuals that lead to the separation of
networks (Brass, 1985). Studies show that female business networks are homophile and
predominantly female. The review by Carter et al. (2003) of the Venture Capital Sources
Manual (2000) in Pratt revealed that investment sector networks were predominantly male,
with only 529 women of more than 6086 men from Venture Capital. They concluded that the
chance of having a female equity investor in a women's business network is remote because
of those odds. In addition, they suggest that women entrepreneurs may need to use alternative
networking strategies if they are to make useful contacts within the investing community.
Female entrepreneurs with relevant industry, management, and start up experience combined
with different social networks can take advantage of bootstrapping to position their
companies and attract more investments than female business people who lack these
experiences and networks (Carter et al., 2003). Hanson and Blake (2009) argue that
networking can reduce transaction cost by small business owners and facilitate access to
resources through improved access to information. The less the other network members are
connected, according to Seibert et al., the more an entrepreneur can benefit from the network
and have 'more unique and timely access to information (2001). Ruminska-Zimny (2002)
found the lack of access to information, networks and collateral rest online marketing.
Various researchers investigated the role of networks in access to finance and success for
entrepreneurs. Baron and Markman (2000) have proved to be an important factor in attracting
venture capital and growing their sales results that enterprises are able to create or participate
in networks. Concerning the gender gaps in the access to entrepreneurial start-up funds,
Kuada findings (2009) indicate that female entrepreneurs depend on their relationships and
social capital more than male entrepreneurs to offset rest online marketing of bank funding.

42
By finding answers to the following questions, this paper advances this research stream: Are
women entrepreneurs who collect help beyond their social network (friends and family)
getting their companies started with higher start-up funds? Are these women businesses
selling better than women who depend primarily on close links, such as family and friends?
Awareness was missing as a key factor affecting the success of women entrepreneurs in
developed countries (Nasri and Muhammad, 2018). Therefore, companies with access to
information are believed to develop more quickly than other companies because information
can improve and deepen customer relationships, improve the reputation of companies,
enhance market connectivity and allow them to compete with other companies (Giday, 2017;
Kamunge and Tirimba, 2014). In addition, having a social network is a valuable asset, which
can assist an entrepreneur in gaining knowledge and credit. Social networks can play a
greater role in helping entrepreneurs resolve transaction costs, contract compliance and
regulation barriers (Mulugeta, 2014). Enterprises with knowledge thus perform better than
their partners.

2.5.6 Market Innovation (MI) Relation with Women Entrepreneur’s Performance

(WEP)
In helping small companies and their business owners to sharpen their strategies to achieve
success, online marketing is important and probably unique (Martin, L.M., and Wright, L.T.
2005). The broad spectrum of technology enables women to gain greater market access,
networking and advertising capabilities that will definitely increase their company
competitive advantages. However, most small local enterprises have not built internal IT
infrastructures, such as the Local Area Network, and less than 20% of small and medium-
sized enterprises have internet connectivity. Furthermore, while the government and NGOs
have co-organized several online marketing training programs and seminars, there is a
"digital divide" between urban and rural women and women with different financial status.
Between 1995 and 2000, approximately 10,000 female entrepreneurs enjoyed these
programs, which are relatively low compared with the Malaysian population. Policy,
particularly policy to provide entrepreneurship skills to women must address this problem.
This problem.
Castells (2000) warns that the failure to access the online marketing will lead to the exclusion
and consequent marginalization from new technological developments in the new economy.
In this digital world, online marketing is needed to survive. Digital exclusion is more likely to
affect women due to different obstacles such as low educational levels, less exposure to

43
technology, money and time (Gill et al., 2010). According to research conducted among fish
makers and fisheries processors in Dakar, Senegal, some women could not send text
messages, despite benefiting from their ability to read and write telephones (Sane and Traore,
2009). In addition, online marketing may provide women entrepreneurs with their social
capital by connecting them with families and friends, providers and service providers,
customers, entrepreneurs and networks. Online marketing -based companies provide women
entrepreneurs with the flexibility to balance work and family responsibilities without travel.
Martinez and Reilly (2002) argue that online marketing plays a vital role in enabling women
and their organisation, for the lobbying, advocacy and organisation of change, to have access
to and manage information, both in terms of institutionalising management as well as in
terms of transparency and accountability. The use of online marketing can also offer support
for women entrepreneurs in their business development, communications, access to finance,
health care and education programs, etc. (Malhotra et al., 2012).

2.6 Conceptual Framework

A conceptual framework is built using the company's resource-based vision as a theoretical
framework (Figure 2.1). Business support could, as proposed in the preceding section,
combine the competences and immaterial resources of a female company that might offer a
possible competitive edge.
This study claims that support for business provides women entrepreneurs with resources for
the acquisition of various capital kinds. Female entrepreneurs require support to overcome
the obstacles – individual, cultural, societal and institutional – as literature recommends.
These restrictions could make it difficult for them to obtain business-related resources.
Firm support providers could impart the knowledge, skills and skills required for their
business to female entrepreneurs. The interaction with the supporting provider of enterprises
may lead to learning processes in women's enterprises and so change their production
organisation, their routines, their networks and marketplaces in a structural and non-transitory
way. Providers of business support might develop and address learning among women
entrepreneurs. It could also provide access to resources for female entrepreneurs through
various services, such mentoring, training, workshops, networking, information etc.
.

Access to
Finance 44
(ATF)
 Work- Market
Family Innovation
Interface (MI)
(WFI)

Societal
Support
(SS) Women
Entrepreneurs
Performance (WEP)

Entrepren
eurship
Education
(EE)

Access to
the
Network
(ATN)

Figure 2.1: Framework

2.7 Summary
The results of this study contribute to the research efforts directed at understanding the
dimensionality of the entrepreneur construct and the role that the entrepreneur dimensions
together with the social and business environments have in explaining business performance in a
constrained context such as Asian countries.

45
 CHAPTER 3: METHODOLOGY

3.1 Introduction

Choosing an entrepreneurship research methodology is tough and takes great attention, in

particular when dealing with the Asian culture. The approach employed in the study is
presented in this chapter. Firstly, the research design used for this study are discussed.
Secondly, it explores the sampling processes with a comprehensive population, sample and
sampling technology discussion. Thirdly, the procedures for the collection of data were
submitted and the questionnaire design were discussed. Fourthly, the procedures in
development for the instrument are explained in this chapter. Finally, the processes of data
analysis, which includes reasons to use SPSS, have been covered.

3.1 Research Paradigm

The philosophical beliefs underpinning the researchers must be understood as they explain
why the choice of qualitative, quantitative or mixed methodologies might be justified.
Different researchers can understand the term paradigm itself differently. Creswell (2014) use
instead of paradigm the term "worldview" and has defined worldview as an essential
collection of convictions which can govern the actions of individuals. Creswell (2014)
explains world view as a general global orientation that can be molded by the field of study
(discipline), the beliefs of the supervisors and faculty members and past research experience.
Meanwhile, in order to get understanding and comprehension of the phenomenon, Saunders,
Lewis, and Thornhill (2009) created paradigms as a technique of assessing social phenomena.
In general, four main elements – positivist, reality, interpretativism and pragmatism – can be
classified in a research paradigm (Bryman & Bell, 2015; Creswell, 2014; Saunders et al.,
2009; Sekaran and Bougie, 2010). The four paradigms outlined by Saunders et al. (2009),
Creswell (2014), and Sekaran and Bougie are compared below Table 3.1 (2010).
Positivism is the best paradigm for research that represents the present study. This study
includes: theoretical verification, empirical data analysis, systematic and quantitative nature
and data gathering from a wide range of respondents (research instrument). Positivists usually
employ current theories to determine hypothesizes, according to Saunders et al. (2009), and
testing the hypothesis to further develop the theory. As a result, the revised theory may be
used by other researchers in future study. Hypotheses based on 3 existing theories, equity

46
theory, social exchange theory and justice theory were constructed consistent with this study.
Positivists are, on the other hand, concerned on the thoroughness and replicability of their
studies, the dependability and the widespread study (Sekaran & Bougie, 2010). The
relationship between theory and research is usually explained with logical reasoning by the
positivists (Bryman & Bell, 2015; Sekaran & Bougie, 2010).

3.2 Research Design

The design of research can be divided into qualitative, quantitative or combined techniques
(Creswell, 2014). On the basis of research purpose and research challenge, the optimum
strategy to research design can be identified. Research design is essentially a set of
recommendations or action plans that might drive the study to be carried out (Zikmund et. l.
2012). The research designs can also be considered as a template for gathering, measuring
and interpreting data, according to Bryman and Bell (2015) and Sekaran and Bougie (2010).
As noted above, it is quantitative in nature to construct this research as it follows the
paradigm of positive research. The aim of this study is to investigate the relationship among
factors, including distributional justice, procedural justice, interactional justice, recovery
satisfaction, brand evangelism and religion. Quantitative research is appropriate. The
variables were assessed using research devices, followed by statistical analyses of data
collected (IBM SPSS Statistics). For data collection, the method was utilized as a result of a
deductive approach and claimed to be one of the leading strategies for the collecting of data
for business-related research (Saunders et al., 2009; Sekaran and Bougie, 2010). The survey
is adequate as many responses have been requested and is very cost-effective.

Quantitative research will be done to accomplish the study. According to Creswell (2014),
qualitative research is a procedure for examining and understanding the interpretation of
individuals or groups in a social or human situation. In quantitative research, objective
theories are tested by analysing the relationship between the variables. The exploratory
aspect of this study encourages quality research since it is best suited for explorations and
research into complicated human behaviour. Instead of measuring and quantifying an issue, a
quantitative method favours an in-depth grasp of a topic (Baker, 2001; Zikmund, 2000). A
qualitative method was chosen to take account of the data required for the purpose of the
study and to explore the needs and obstacles of women entrepreneurs in accessing or
supporting women entrepreneurs.

47
3.2.1 Study Area
The sample will select from the various respondent women entrepreneur from different area
of Bangladesh. The respondent must have Business organisation and have assure that the
respondent provide bias less feedback to the questionnaire.

3.2.2 Respondents and Sampling Framework

The selection of the target population is the initial stage in all sampling techniques, according
to Sekaran and Bougie (2010). As such, female entrepreneurs and market innovation in the
Bangladesh are the topic of this study. The research intends to study support for
entrepreneurs and, for different reasons, the interpretative methodology is appropriate for the
research. Interpretive research permits the experiences of various actors in the provision of
business support, such as consultants and women entrepreneurs. To achieve the varied
perspectives of key players, the study of variety of participants' experiences is crucial.
Interpretive methods of research can help to learn and acquire a deepening grasp of
institutional support and the viewpoints and experience of participants. Questionnaire will be
conducted to gather survey to understand the performance of women entrepreneur. The
questionnaire will be focused on the entrepreneur of Bangladesh whom are involve in a
business.

3.2.3 Data Collection Procedures and Field Work

This study used semi-structured interviews, observations and document review to answer the
questions of inquiry. During times and places that were most convenient for the participants
half-structured interviews were performed. It took around thirty minutes to interview each
person. The workshops and networking activities organized by participating organizations
and other support organizations were observed. The study was also allowed to attend single
sessions with the business coaches of female entrepreneurs. However, women business
ownership as a percentage of all business owners rose from 4.2 percent to 4.4 percent this
year. The score improved to 35.9 points from 35.2 points out of 100. So the sample will focus
on only 20 women entrepreneur in Bangladesh for understanding the performance.

3.3 Research Instrument

Data collected was statistically analysed using Statistical software SPSS. Data from the
questionnaires was coded and data was investigated and transformed to useful outputs such as
frequency tables and descriptive statistics (mean and standard deviation).

48
3.4 Data Analysis
The respondents were selected based on a non-probability purposive sampling technique.
Purposive sampling technique is suitable when the researcher has certain appropriate
characteristics required of the sample member (Zikmund et al., 2012). In order to avoid
memory bias, only respondents who had experienced service failure and recovery within the
past one year were selected (Nikbin et al., 2010; Nikbin et al., 2014b). Memory bias is a
problem that occurs when the respondents have difficulties to completely recall an incident
that happened within certain period of time. According to Punch (1998), the utilization of
non-probability technique is appropriate when the research questions emphasizes on the
relationship between variables, therefore maximum chance of relationship observations can
be made. Employing non-probability sampling is considered proper especially when
voluntary participation or consent from the respondents are required (Latham, 2007). Thus,
non-probability sampling are for the various variable which impact the performance of the
women entrepreneur of Bangladesh.
APEC in Malaysia (1994) shows that women entrepreneurs in small and medium-sized
enterprises face many challenges due to the lack of a broad framework concerning
development policies; numerous agencies or channels in the field of development for small
and medium-sized enterprises.

Hypothesis 1: Finance, Work-family Interface, Societal Support, Education and

Network Accessibility has a significant impact on Women Entrepreneurs Performance
(WEP).

Women businesspeople tend not to use or use any credit for formal finance organisations
(Lee and Marvel, 2014). Women entrepreneurs tend to borrow from informal sources –
families and friends, and most financial resources in their firms are borrowed compared to
men by family and friends (Brush et al., 2006).

Hypothesis 2: Access to Finance (ATF) has a significant impact on Women

Entrepreneurs Performance (WEP).

Fasci and Valdez (1998) and Birley (1989) say that numerous demands for women minimize
business time. Few women may devote their entire space and energy to their business with
primary responsibility for children, home and older dependent families (Starcher, 1996).

49
Maysami et al. (1999); Stoner et al. (1990), found that work and homes are the key
stumbling block for female owners due to the double burden of managing a company and
sustaining a family.

Hypothesis 3: Work-Family Interface (WFI) has a significant impact on Women

Entrepreneurs Performance (WEP).

Women are more likely to solve problems in getting finance for their projects when
they have access to networks (Carter et. l., 2003). Tlaiss (2014) indicate that, primarily due to
their highly contextual existence, access to networks is advantageous for entrepreneurial
women in Arab countries. The most economic results in these countries are determined by
informal and social networks (Cunningham and Sarayrah, 1993).

Hypothesis 4: Societal Support (SS) has a significant impact on Women

Entrepreneurs Performance (WEP).

It is noted that women entrepreneurs have been taught subjects that are not very much
related to their departmental functions (Cormier et al., 2011) and lack the specialization
required for performing financial-sector duties (Jafari et al., 2011).

Hypothesis 5: Entrepreneurship Education (EE) has a significant impact on

Women Entrepreneurs Performance (WEP).

Carter et al. (2003) of the Venture Capital Sources Manual (2000) in Pratt revealed that
investment sector networks were predominantly male, with only 529 women of more than
6086 men from Venture Capital. They concluded that the chance of having a female equity
investor in a women's business network is remote because of those odds. In addition, they
suggest that women entrepreneurs may need to use alternative networking strategies if they
are to make useful contacts within the investing community.

Hypothesis 6: Access to the Network (ATN) has a significant impact on Women

Entrepreneurs Performance (WEP).

50
Social networks can play a greater role in helping entrepreneurs resolve transaction costs,
contract compliance and regulation barriers (Mulugeta, 2014). Enterprises with knowledge
thus perform better than their partners.

Hypothesis 7: Access to Information (ATC) has a significant impact on Women

Entrepreneurs Performance (WEP).

Digital exclusion is more likely to affect women due to different obstacles such as low
educational levels, less exposure to technology, money and time (Gill et al., 2010). Martinez
and Reilly (2002) argue that online marketing plays a vital role in enabling women and their
organizations, for the lobbying, advocacy and organization of change, to have access to and
manage information, both in terms of institutionalizing management as well as in terms of
transparency and accountability.
Hypothesis 8: Moderate variable Innovativeness in Marketing has a significant
impact on Women Entrepreneurs Performance (WEP).

3.5 Conclusion
The research and technique utilized to investigate the role of business support in empowering
women entrepreneurs in Bangladesh were described in this chapter. Skill and address key
topics relating to qualitative investigations. The selection and the selection of participants for
the study provided a justification. The role of the researcher and the subjectivity of the
researcher in analyzing the entrepreneurial performance. The data sources and procedures
used in this investigation were also explained in this chapter. There was also an explanation
of how data were analyzed and how validity and reliability of this study were demonstrated.

51
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