Factors and Challenges Affecting the Success of Women Entrepreneurship; A Study in Bakery Products Industry in Northwestern Province of Sri Lanka

Abstract

Introduction: It is frequently recognized that economic growth and wealth are dependent on entrepreneurship and that the number of women entrepreneurs worldwide has significantly increased. The modern world views entrepreneurship as a potent force that promotes productivity, job creation, and economic expansion. This study aims to determine the critical elements and obstacles that impact the performance of female entrepreneurs in Sri Lanka and their ability to manage their businesses and to provide recommendations for the most effective course of action. The primary goal of this study is to identify and analyse the variables and obstacles that could affect how well women entrepreneurs succeed. Methodology: This research followed the social constructivism philosophy to examine the real, and this research is conducted as qualitative research in which data, words, images or objects were collected through the methods of interviews, field notes and participant observations in the evaluations. Also, this study is also associated with the inductive approach. In this research, I used the purposive sampling method. The population is Sri Lankan women business owners who have been active in the bakery products industry in the northwestern province of Sri Lanka for over three years. I identified 10 Sri Lankan women business owners active in the Bakery products industry in the northwestern province of Sri Lanka as a sample. The data collection method is conducting interviews. I could identify four main success factors as main themes, and the findings of challenges are detailed as 20 sub-themes from the interviews conducted. Conclusion: This study goes a step further and explains the factors that influence the success or failure of women entrepreneurs. Hence, it will help women entrepreneurs across Sri Lanka and all stakeholders, like the government, customers, employees, and investors, to make appropriate decisions.