ISSN : 2663-2187

Causal factors influencing the success of business management of women entrepreneurs of small and medium- sized enterprise in the central region

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Thitiya Assawajindawat, Dr. Rachada Fongtanakit, Dr. Pornkul Suksod
ยป doi: 10.48047/AFJBS.6.8.2024.3133-3144

Abstract

Most women entrepreneurs operate small and medium-sized enterprises. The ratio of women entrepreneurs is lower than male entrepreneurs. Promoting women entrepreneurs to succeed in business helps motivate more women to become entrepreneur. The objectives of this research were to: 1) study the level of entrepreneur characteristics, management skills, financial support, business environment and business management successful of women entrepreneurs of small and medium-sized enterprises in the central; 2) examine the influence of causal factors, i.e., entrepreneur characteristics, management skill, financial support, and business environment on business management success of women entrepreneurs, in small and medium enterprises in the central region; and 3) propose a promoting guideline for women entrepreneurs in small and medium enterprises to become successfully. This was a mixed-methods study. For quantitative component, the sample of 320 women entrepreneurs from small and medium enterprises was selected by using the multi-stage randomization technique. For the qualitative component, in-depth interviews were conducted with 16 key informants, comprising of: 1) four public and private sector executives, 2) four women entrepreneurs who have received outstanding women executive award and 3) eight women entrepreneurs The results indicated that: 1) entrepreneur characteristics, financial support, business environment and business management success of women entrepreneurs of small and medium enterprises in the central region were at high levels except for management skill was at a moderate level. The business environment has the highest average score; 2) financial support, management skills, entrepreneur characteristics, and business environment have an overall influence on business management success of women entrepreneurs in small and medium enterprises in the central region at a statistically significant level of 0.05 with impact values of 0.92, 0.88, 0.45 and 0.18 respectively and 3) a guideline for promoting women entrepreneurs in small and medium enterprises to become success were as follows: (1) financial institutions of the government and private sectors establish concrete measures regarding financial support for women entrepreneurs; (2) promoting and supporting women entrepreneurs with information, knowledge, and training to enhance their management skills and business knowledge; (3) encouraging women entrepreneurs to adopt technology in their operations; (4) encouraging women entrepreneurs to create business networks to strengthen and grow their businesses; and (5) the public and private sectors providing opportunities for women entrepreneurs to bring their products and services to new markets, both domestically and internationally. Therefore, the government and private sectors should systematically support, promote, and develop women entrepreneurs to ensure their success in business operations

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