Impact and Role of Family and Social Factors in the Success of Women Entrepreneurs: An Empircal Study of Selected Small Women Entrepreneurs

Abstract

Women entrepreneurship has been increasing with a rapid pace in India. Women in Indian society have more responsibilities as compared with men and that is why they need social and family support if they wish to start their own venture. This paper discusses about a variety of family and social factors that affect the success of women entrepreneurs. The study also presents that how level of education affects the impact of family and social factors on success of women entrepreneurship. Overall, the study focuses on the pivotal role of the family and society in the entrepreneurship journey of a woman and how they can act as a push factor for success for businesses run by women.A sample of 214 respondents has been considered by a “structured questionnaire” created on five-point interval scale. It was found from the study that more educated women have less impact of their family and society on their success as an entrepreneur. Further, there is a good level of encouragement and motivation from family to women entrepreneurs. However, financial support from husband is limited and social encouragement is less. At the same time, it is difficult for women to manage the work life.