The Success Of Women Entrepreneurs In Australia Essay

Discuss about the factors which influence the success of women entrepreneurs in Australia.

Answer:

Introduction:

The current era of Australia has witnessed the rise of women entrepreneurship significantly. Further, it is widely known that it is vital for economy and growth. Participation of women in entrepreneurship has been lesser than that of men in Australia. These factors have been getting attention of scholars from various disciplines regarding profile and behavior of female entrepreneurs and business success rate.

In the following report the project scopes and objectives are identified keeping in mind the different factors influencing success of women entrepreneurs in Australia. Next a literature review is conducted, along with answering various research questions. Then the research methodology and design are described using both qualitative and quantitative research. Then, the research limitations and time schedule for the research plan is demonstrated.

Project Objectives:

At present Australian women have been entering into different job situations. They have also been emerging as executives and professionals in various fields. Having this background, the entry of women to fiercely competitive business scenario has been a huge challenge. In this way, women entrepreneurs have highlighted their problems and status in specific.

The objectives include the following.

  • To know the effect of economic factors on women entrepreneurship
  • To what extent women entrepreneurs are already successful
  • To know the problems faced in women entrepreneurs in Australia
  • To what extent economic and other helps provided by Australian government is helpful for women entrepreneurs

Project Scope:

The scopes of the study are analyzed below.

  • These findings would make women aware about benefits gained by entrepreneurs.
  • It will make them understand the women rights and labor laws.
  • Challenges faced by women employees would be resolved with better communication
  • Percentage of women employment would reduce

This research has been useful for government officials, and various governmental and non-governmental Australian agencies that have been engaged in developing women entrepreneurship. Further, it has been helpful for policy making. It has been useful for women entrepreneurs to develop their business towards a successful enterprise.

Literature Review:

There have been various researches conducted in past years. These are examined through reasons and motivations of men to undertake projects. However, lesser studies are conducted that involves women entrepreneurs like factors making women leaving corporate world to become entrepreneurs. This also includes boundaries, limitations as faced by women entrepreneurs as they decide to begin their own business as shown by Nikina, Shelton and LeLoarne (2015). This also includes patterns of ICT usage taking place women entrepreneurs. Here, most women has been starting their individual business for providing extra feasibility and balance to manage their conventional riles as basic caretaker of their children and wife (Wach, Stephan and Gorgievski 2016). With the help of constant battles and struggles, there have been various stories of success that most of the women entrepreneurs have been making that to make big in the current world of business. In this way, it has been the time to determine factors that has been influencing success of women entrepreneurs under Australia’s small business. As per as Ahl and Nelson (2015), the success has been always defined by the intrinsic criteria including freedom, managing people’s future and be one’s own boss. On the other hand, extrinsic outcomes have been raising personal income, wealth and financial returns. Research by De Vita, Mari and Poggesi (2014) found that success of business has been commonly defined as per as financial or economic measures including return of survival rates, employees, profits and resources and various non-pecuniary measures like personal achievement, personal development and customer satisfaction.


In the same way, Allen and Truman (2016) also stated that the performance of business has been generally ensured through financial perspectives of growth under employees and sales, and with the rise in profits. Since, most of the people have been equating profits and money at the best way possible to measure business success and individuals, many have not been viewing most of the women-owned Australia’s business as successful. This is because it has been smaller in amount and very slow in terms of growth.

Thus some women have been defining business success from financial point of view. Welsh et al. highlighted that, many handfuls of women enterprises has been measuring success as and when they can determine that has been a financially valuable resource (Wach, Stephan and Gorgievski 2016). It has been to say that as they have felt they have been creating huge income and contributing to family, they never feel that have gained some more measures of success. Here, a research done by Inman (2016) showed that the gross receipts and sales of businesses owned by women has been remaining lower than of men-owned business. This has been as per as factors that have been contributing to the success of entrepreneurs under small business has been varied.

Welsh, Memili and Kaciak (2016) described that most of the critical factors that has been contributing to success of business has been good management skills. This also includes access to satisfactory government, personal qualities and access to financing support. Laukhuf and Malone (2015) studied that Australian business owners reported that they have been considering the marketing factor to be the most important element in terms of success of business. Instrumental support and emotion of family has been one of the important factors for various women entrepreneurs. Goffee and Scase (2015) showed the conflict of work-family at Australia and found that support from family members and other reduces conflict of women entrepreneurs. Apart from this owning of business by female instead of interfering by family has been of higher success in business. Apart from this, careers of women have been depending on decision of spouses instead of the other way around. Study of Australian women business owners done by Godwyn and Stoddard (2017) showed that large self-concept has been regarding their role in commitment and business to business helping women to e more successful entrepreneurs. In has also showed that the entrepreneurial success has been depending on various psychological factors like managerial and self-concept competence.

Apart from this Agarwal and Lenka (2015) discussed that women has been successful in any project as they have been under positive view of mind. Chinomona and Maziriri (2015) on the other hand suggested that different socially constructed obstacles have been liable to inhibit progressions of women. As per the study of Bade (2015), social support has been adversely related to stress. Again findings from the research of Eddleston (2016) also indicated that the moderates of social support have been affecting the work stressors. Apart from this, strong ties under business world have been helping women to gain success in business. Research from Tlaiss (2015) denoted that female entrepreneurs at Australia have used networking for business development. Various other factors like internal motivation have been the element that contributed to success in business. Thus the role of extended family has been supplying providing capital for new challenges and facilitating the apprentice training of their members. It has been important for success of various prospective entrepreneurs. At last, innovation in business via ICT or Information Communication Technology has been playing a vital role to support women entrepreneurs on business through achieving low cost structure and gaining larger returns for every customer (Wach, Stephan and Gorgievski 2016).

Factors affecting growth of women-owned SMEs:

Till recently very few studies on entrepreneurship on women have concentrated on women in high growth enterprises. Most of the research has been investigating growth of women-owned firms considering the motivation of women for starting any business and how those motivations have affected the approaches of growth (Wach, Stephan and Gorgievski 2016). It has also affected the size, sector and location on business performance. Further, there have been institutional and cultural factors that have affected decision of women to start and grow business.

After reviewing the literature and social feminist perspective it can be said that there have been differences lying between ambitious and high growth and low growth or “status quo” of various entrepreneurs under their approaches to growth, management practices and characteristics. Here the differences have needed to be tested further under the context of women-owned quick growth SMEs. This has been the attempt for developing models of growth capturing various paths of development of women entrepreneurs. Further, as proposed by Chinomona and Maziriri (2015), various growth models have been linked towards characteristics, experiences, perceptions and attitudes for external and internal environment.

Research questions or hypothesis:

The research questions are identified below.

Primary question:

What are the opportunities and problems for women entrepreneurs at Australia to run the business?

Secondary question:

  • How to ascertain production, marketing and financial constraints as faced by various women entrepreneurs in their business?
  • What are the various remedial measures for helping and accelerating various women entrepreneurs for running business successfully?

The research hypotheses are discussed hereafter.

Hypothesis 1: There is no vital difference in economic factors that has been influencing improvement of chosen women entrepreneurs at Australia.

Hypothesis 2: There is no notable difference to influence education on chosen women entrepreneurs are engaged in Australian business.

Hypothesis 3: There is no difference to the extent to which success of women is engaged in business of Australia.

Hypothesis 4: There has been no vital difference to influence of training of chosen women entrepreneurs in Austrian business.

Research Design and Methodology:

Qualitative research:

For this research more detailed data about work experiences of female entrepreneurs are retrieved through interviews. These are done at various women entrepreneur customers of different Australian Banks. Interviews are done to complement data gained through more limited reviews in quantitative research. In qualitative research the research interviews and participants are asked about experiences while setting up business. It has been reflecting benefits and drawbacks to become a woman entrepreneur concentrating on feelings, perceptions and thoughts.

Quantitative research:

Here, the women entrepreneur at the Banks was interviewed and visited. The research was done at 16 cities through random sampling covering from the time period of January 2018 to April 2018. Here the legal and actual initiatives of women were conducted through products of banks intensified. A those selected cities, total 300 women entrepreneurs were been chosen to interviewed. Here the research questionnaire involved individual questions about the stages to start up, manage and grow business. Further, the personal characteristics of women considered along with their problems and support they have been receiving were found out.

Research Limitations:

The first limitation from the study suggests that outcomes of the research have not been interpreted with caution. Here the primary problem is the non-random self-selection of participants. This also indicates that ot has not been possible to control business age.

Besides, it has been unclear that to what extent the younger and older fast growing companies have been likely differing as per as management practices that are adopted by owners.

Next, the access to finance has not been prioritized as the challenge for the sample of female in developing organizations. Further, the relationship among the access to growth and finance has not been particularly investigated in this research.

Time Schedule (Research plan):

WBS

Task Name

Duration

Start

Finish

Predecessors

0

Time schedule for conducting research on influence the success of women entrepreneurs in Australia

78 days

Mon 1/8/18

Wed 4/25/18

1

Conducting mail survey from women entrepreneurs at Australia

17 days

Mon 1/8/18

Tue 1/30/18

2

Interviewing all the individuals who have responeded in the survey

12 days

Wed 1/31/18

Thu 2/15/18

1

3

Finding demographic profile of respondents

2 days

Fri 2/16/18

Mon 2/19/18

2

4

Testing underlying assumptions for multiple regression

6 days

Tue 2/20/18

Tue 2/27/18

3

5

Finding results of multiple regressions

15 days

Wed 2/28/18

Tue 3/20/18

4

6

Listing the findings from the above steps

4 days

Thu 3/22/18

Tue 3/27/18

5

7

Analyzing future scopes

10 days

Thu 4/12/18

Wed 4/25/18

6

Figure 1: “Gantt Chart showing time schedule for conducting research on influence the success of women entrepreneurs in Australia”

(Source: Created by Author)

Conclusion:

The current age of globalization has changed the role of opposite genders drastically under the world of business. The findings from the above research showed that the orientation of growth of women entrepreneurs has been a complicated phenomenon. The study has shown that the large growth in women entrepreneurs has been differing how they have been viewing themselves, projects and wider environments where they have been finding themselves. As per as the future research is concerned, it has been interesting fetch the findings presented could be replicated in various other cultural scenarios. Further, future research has considered the longitudinal approach in investigating how decisions of women entrepreneurs have been pursuing the growth as the deliberate change in choice change in due time. This has been also interesting to undertake cross-sectional growth that is oriented towards women-owned agencies. It has been needed to model various projects as pet as growth patterns, business types and business rates are concerned. Future research can be conducted to verify outcomes of the above exploratory report. That must be done through more empirical cross-national and cross-cultural studies in various parts of this world.

References:

Agarwal, S. and Lenka, U., 2015. Study on work-life balance of women entrepreneurs–review and research agenda. Industrial and Commercial Training, 47(7), pp.356-362.

Ahl, H. and Nelson, T., 2015. How policy positions women entrepreneurs: A comparative analysis of state discourse in Sweden and the United States. Journal of Business Venturing, 30(2), pp.273-291.

Allen, S. and Truman, C., 2016. Women in business: Perspectives on women entrepreneurs. Routledge.

Bade, U.R., 2015. A Critical Study on Motivational Factors Influencing Development of Women Entrepreneurs in SME’s in India. ADVANCES IN GLOBAL BUSINESS RESEARCH Vol. 12, No. 1, ISSN: 1549-9332, p.1140.

Chinomona, E. and Maziriri, E.T., 2015. Women in action: Challenges facing women entrepreneurs in the Gauteng Province of South Africa. The International Business & Economics Research Journal (Online), 14(6), p.835.

De Vita, L., Mari, M. and Poggesi, S., 2014. Women entrepreneurs in and from developing countries: Evidences from the literature. European Management Journal, 32(3), pp.451-460.

Eddleston, K.A., Ladge, J.J., Mitteness, C. and Balachandra, L., 2016. Do you see what I see? Signaling effects of gender and firm characteristics on financing entrepreneurial ventures. Entrepreneurship Theory and Practice, 40(3), pp.489-514.

Godwyn, M. and Stoddard, D., 2017. Minority women entrepreneurs: How outsider status can lead to better business practices. Routledge.

Goffee, R. and Scase, R., 2015. Women in Charge (routledge Revivals): The Experiences of Female Entrepreneurs. Routledge.

Inman, K., 2016. Women's resources in business start-up: A study of black and white women entrepreneurs. Routledge.

Laukhuf, R.L. and Malone, T.A., 2015. Women entrepreneurs need mentors. International Journal of Evidence Based Coaching and Mentoring, 13(1), p.70.

Nikina, A., Shelton, L.M. and LeLoarne, S., 2015. An examination of how husbands, as key stakeholders, impact the success of women entrepreneurs. Journal of small business and enterprise development, 22(1), pp.38-62.

Tlaiss, H.A., 2015. How Islamic business ethics impact women entrepreneurs: Insights from four Arab Middle Eastern countries. Journal of Business Ethics, 129(4), pp.859-877.

Wach, D., Stephan, U. and Gorgievski, M., 2016. More than money: Developing an integrative multi-factorial measure of entrepreneurial success. International Small Business Journal, 34(8), pp.1098-1121.

Welsh, D.H., Memili, E. and Kaciak, E., 2016. An empirical analysis of the impact of family moral support on Turkish women entrepreneurs. Journal of Innovation & Knowledge, 1(1), pp.3-12.

Welsh, D.H., Memili, E., Kaciak, E. and Al Sadoon, A., 2014. Saudi women entrepreneurs: A growing economic segment. Journal of Business Research, 67(5), pp.758-762.

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