Discuss about the Cultural Factors and Entrepreneurial Intention.
The world has seen a significant growth in the entrepreneurship among women and it has widely established the importance of entrepreneurial activities in the economic wealth and growth. Despite these facts, it can be seen that women’s participation in entrepreneurial activities is comparatively lower as that of the men’s at almost all the societies. The phenomena get adequate attraction of the scholars from a diversified disciplines and each of them is interested in the profile of the female entrepreneurs as well as their success rate in the business. Huarng, Mas-Tur and Yu (2012) stated that there are various isolated factors that have both positive as well as negative effects on the entrepreneurial procedure, mainly for the women entrepreneurs. However, it is important to encourage them, which will not only lead to the economic prosperity but also improve their living standards.
The report mainly throws light on the factors which highly influence the success of women entrepreneurships in Australia. For this study, various factors in relation with the women entrepreneurship are being studied in a detailed way. Various literatures are being reviewed in order to gain a detailed understanding of the factors affecting women entrepreneurial success. The most common factors are the internal levels, human capital, experience and education along with the effects on the opportunities’ identification stage, accessibility to the resources, opportunity recognition, entrepreneurial performance and its stages and lastly the resources acquired. In addition to this, there are other factors as well regarding the use of technology, family support, quality assurance and risk encountering.
The main objective of the research paper is to examine the skills that women entrepreneurs possess. It also discusses about the relation that exists between the skills and their motivational factors, performance and barriers. Several journals are being reviewed, which are related to the overall skills required by the business owners. It also includes the educational level, occupational experiences, management skills and prior business expertise. The overall analysis shows that the women entrepreneurs lack certain educational and managerial skills, which are regarded as the two most important variables on understanding the difficulties and motivations faced by them. The risk factors are family support, risk encountering, quality assurance and others.
According to Brush and Cooper (2012), a project scope can be defined as the part of planning a project, which involves documenting and determining the lists of specific goals of the project, features, deliverables, functionalities, tasks, ultimate costs and finally the deadlines. In simpler terms, it can be considered as what needs to be achieved in the project work and what needs to be done in order to deliver the complete assignment. The scope of the project is gaining an understanding regarding the success rate of women entrepreneurs in Australia. Several literatures will be reviewed in this project and presented in the most ethical form, in order to give an overview of the success rate of women entrepreneurs in Australia.
In the year 2011, there were more than 590,000 women entrepreneurs in Australia, which is second to the United States of America, as per female TEA (Total Entrepreneurial Activity) rate. According to Akehurst, Simarro and Mas?Tur (2012), women’s contribution to the business has changed a lot in the recent times. They seek for more independent as well flexible approach in order to combine their life and work. The primary motivation for the women to enter the entrepreneurial world has been evolving since the past decade, from necessity to opportunity. Personal fulfillment and independency is becoming more important than profit and financial gain.
Most of the researchers investigate this concept of entrepreneurship as someone who is self employed. However, according to Lisetchi and Brancu (2014), entrepreneurship is a multifaceted conception. It includes starting up or owning a small business and managing it alone, or in a group or say, in some other corporation. The entrepreneurs act as business leaders and are innovative in nature, along with some profitable objectives. They seek for several opportunities so that they can utilize them in order to encourage stability in the current market economy. Moreover, an entrepreneur is regarded as a self employed individual who has already established a business with some primary motives for realizing personal satisfaction as well as creating motives.
Female entrepreneurs are the ones where women are operating their own businesses and operating it. In the year 2013, Dell published an article on global and gender focused entrepreneurship in the Global Entrepreneurship and Development Index (GEDI). As per there reports, high potential women entrepreneurs can be referred as, ‘innovative, export and market expansion oriented factor’ (Dell.com 2018). According to Rauth Bhardwaj (2014), the women entrepreneurs from Australia are earning more and also employing more employees ever than before. The firms and companies owned by females tend to be smaller in size as compared to male operated businesses.
Van Hulten (2012) also examined that the female owned companies tend to be more concentrated into the highly competitive sectors like retail or personal services. This is however, reflected in the disparities between genders in relation to the wealth and wages along with the divisions of the domestic duties. Women, even in the modern day society, have been always perceived as the domestic caretakers. However, in the past years women were only seen working at their homes, performing their household chores. They would only work outside their homes out of need and were also asked to take care of their household duties and children.
As per Jussila’s (2014) opinion, the working conditions of the women have always been unequal to that of men’s. They have protested for their equal rights, better working conditions, equal amount of wages and freedom. During the First World War in 1914-1918, majority of the men fought the battles for life, which opened several opportunities for women and they started taking their partners’ places at the workforce. By the end of the Second World War, involvement of women in the work life exponentially increased and they started receiving their perception of independency. In the early twentieth century the women’s entrepreneurship and education have increased in a remarkable manner.
There has been a proportionate increase in the overall number of the women entrepreneurs in Australia, along with the increase in the number of women into workforces. Women started owning their own businesses as they had to support their families, financially. They started to work at more respectable positions. However, majority of the women still faced some difficulties and challenges while sourcing financial help for establishing their businesses or start ups. Even in modern days, women are actually assumed to perform their household activities and roles in their families (House 2014). This concept is changing slowly and the participation of the men in domestic as well as childcare duties is increasing. On the contrary, the women are busy building their careers in their related fields.
According to the GEM, in the year 2011, around 10.5% of the adults at Australia were strictly involved into starting up a new business (Lisetchi and Brancu 2014). Some of them were already established and operated successfully. The Total Entrepreneurial Activity rate (TEA) for the Australian women was around 8.4%. This meant that around forty percent of the Australian entrepreneurs were females (Kelley, Singer and Herrington 2012). According to the Australian Bureau Statistics, in the year 2011, the female entrepreneurs owned around 33% of the all businesses at Australia. The overall rate had risen from the 2010, by almost 2.7% among the economies which are driven by economies (Abs.gov.au 2018).
Australia is driven by innovation along with high development levels in terms of economy, where various start ups are most likely to occur by opportunities than necessities. Around 30% of the Australian new businesses or start ups offer their consumers with innovative products as well as services, which are totally new to them (Kelley, Singer and Herrington 2012). The attitude of the Australians towards entrepreneurial activities has always been positive and they have always seen it in the higher position. According to the Global Entrepreneurship Monitor (GEM), above 50% of the Australian people see entrepreneurship as an innovative and a great choice of the careers. They place this particular occupation high up in the societal status.
Australia’s almost half of the total population have a positivity towards the capabilities and opportunities to become entrepreneurs. As per the Global Entrepreneurial Monitor (GEM), there were more than 350 million new entrepreneurs, in the year 2011. Most importantly, around 42% of these individuals were women. According to the women’s report in the year 2012, around 126 million women were running businesses or starting new ones in more than 60 economies all across the world (Jussila 2014). In addition to this, more than 90 million women entrepreneurs were already operating established businesses (Akehurst, Simarro and Mas?Tur 2012). Therefore, it is evident from the fact that along with the household activities, women are successfully running their businesses and they have great skills of becoming successful entrepreneurs.
According to McGowan et al. (2012), entrepreneurship has grown quiet significantly and exponentially in the recent times. The entrepreneurs create new businesses and these new businesses have the potential of creating new and innovative jobs. In the words of Solesvik, Westhead and Matlay (2014), higher activities of entrepreneurship are being connected frequently with the higher growth of economy. The motivating factors for creating entrepreneurial activities are ambiguous. Thus, there can be various opinions regarding the reasons, which encourage entrepreneurship of self employment. The reasons are not well defined; however, it is usually a composition of the opposing factors brought together.
However, Gottschalk and Niefert (2013) mentioned that there has been no proof yet, that an individual having certain personality traits or skills are more successful or active entrepreneurs than others. As per Ismail’s (2014) opinion, the individuals who have a positive attitude towards self employment or independency are most likely to choose this option of entrepreneurship. He also mentioned that there are several risk factors associated with the entrepreneurial activities as well, especially for women. It is revealed that how some successful entrepreneurs are inspired regarding establishment of their own businesses. Starting up a business is not that easy as it seems. It requires huge amount of research work as well as financial support.
Several sources have stated the fact that there are mainly two factors of motivation for the individuals, especially women, which helps them in starting their own ventures. According to Jayawarna, Rouse and Kitching (2013), most of the factors have resulted from the two factors that are ‘pull’ as well as ‘push’ influences. These are also acknowledged as the opportunities of necessity factors. The ‘pull’ factors are completely based upon the opportunities, whereas the ‘push’ factors are entirely forced by the necessities.
The pull factors are generally seen as the primary motivator which impacts individuals to start a new venture. Ismail, Shamsudin and Chowdhury (2012) examined that majority of the women entrepreneurs are being influenced by the ‘pull’ factor. The individuals who enter the entrepreneurial sector by preference, have seen more chances for working in better conditions, anticipated positions and self expressions. The opportunities for creation of a new business and the overall chance to set up a new market opportunity or idea are considered to be some of the ‘pull’ factors. These factors attract the women entrepreneurs to start up their own businesses. The opportunity entrepreneurship has seen a significant effect on the overall economic development by assisting in creation of new jobs.
According to Dawson and Henley (2012), women with more positive attitudes and behaviors towards leading an independent lifestyle, has higher value in the career choices, rather than risks. The major reasons for the individuals to start their own ventures vary to a large extent. They need to prove themselves and have the entrepreneurial passion in them. Women entrepreneurs need to discover as well as understand the need for their new product or services and convey this need into a business idea. The overall desire to share these positive experiences is entirely related to one’s personal hobby or interest. The opportunities for a new venture often take place through changes in the new products or services.
The push factors are seen as the required factors and they can be regarded as the negative enthusiasm for the business start ups. Some individuals may be forced into the entrepreneurial activities due to job redundancy or dissatisfaction. The entrepreneurship can be seen as a solitary career opportunity, which occurs after a redundancy and when there are no options left. At the time, when the economic rate is slow, individuals tend to start their new businesses or ventures. According to Lahti (2013), a slow economy can create the necessity of starting up a new business or venture. Therefore, it can be said that the businesses which are being start from the necessity have no major impact on the overall economic growth.
Del Mar Alonso Almeida (2013) opined that traditionally, the women were most likely to get ‘pushed’ into the small business ownership rather than being ‘pulled’. Many of them had to perform their household chores and manage their kids. Now a day, the concept has changed to some extent, mainly in developed countries. Women are no longer lacking behind than their male counterparts. Many of them even pursue business studies and entrepreneurial based educations. They prefer joining courses on entrepreneurship and succeed as a strong businesswoman. Some of them have a business mind and some may get pushed into the entrepreneurial world due to redundancy.
Conclusion
To conclude, the study has explored various aspects of motivational facts for the women, which influences them in becoming successful entrepreneurs in Australian. The women entrepreneurship can be considered as a global phenomenon, and the women who are participating in entrepreneurial activities are rapidly growing. The study throws light on the essential factors which motivates women to start their own businesses and succeed. The pull factor is regarded as the opportunity and the push factor is being regarded as the necessity. The push factor can be considered as a danger as the individuals are being forced to open a new business due to redundancy in their work lives. Those businesses may not succeed on the long run as the entrepreneur lack certain qualities and skills, required to manage a business.
The study also highlights the challenges or difficulties that women encounter while trying to enhance their business opportunities. Some scholars mentioned that due to lack of marketing and mentoring knowledge, women often fail to establish their business on the long run. Therefore, it can be said that there is a requirement for developing and improving education regarding business start ups for women. The key factor of motivation for which the Australian women enter the world of entrepreneurship is the independency. This, in turn, provides them with flexibility for combining the family life along with a successful, yet satisfying career. Lastly, the report has presented the factors which influence the success of the women entrepreneurs in Australia, in a detailed manner.
References
Abs.gov.au (2018). [online] Available at: https://www.abs.gov.au/ausstats/[email protected]/Lookup/by%20Subject/4125.0~Feb%202016~Media%20Release~Gender%20equality%20–%20are%20we%20there%20yet%3F%20(Media%20Release)~1 [Accessed 19 Apr. 2018].
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Brush, C.G. and Cooper, S.Y., 2012. Female entrepreneurship and economic development: An international perspective. Entrepreneurship & Regional Development, 24(1-2), pp.1-6.
Dawson, C. and Henley, A., 2012. “Push” versus “pull” entrepreneurship: an ambiguous distinction?. International Journal of Entrepreneurial Behavior & Research, 18(6), pp.697-719.
Del Mar Alonso Almeida, M., 2013. Influence of gender and financing on tourist company growth. Journal of Business Research, 66(5), pp.621-631.
Dell.com (2018). [online] Available at: https://www.dell.com/learn/ie/en/iecorp1/women-powering-business [Accessed 19 Apr. 2018].
Gottschalk, S. and Niefert, M., 2013. Gender differences in business success of German start-up firms. International Journal of Entrepreneurship and Small Business, 18(1), pp.15-46.
House, F., 2014. Freedom in the world 2014: The annual survey of political rights and civil liberties. Rowman & Littlefield.
Huarng, K.H., Mas-Tur, A. and Yu, T.H.K., 2012. Factors affecting the success of women entrepreneurs. International Entrepreneurship and Management Journal, 8(4), pp.487-497.
Ismail, H.C., Shamsudin, F.M. and Chowdhury, M.S., 2012. An exploratory study of motivational factors on women entrepreneurship venturing in Australia. Business and Economic Research, 2(1).
Ismail, V.Y., 2014. The comparison of entrepreneurial competency in woman micro-, Small-, and Medium-scale Entrepreneurs. Procedia-Social and Behavioral Sciences, 115, pp.175-187.
Jayawarna, D., Rouse, J. and Kitching, J., 2013. Entrepreneur motivations and life course. International small business journal, 31(1), pp.34-56.
Jussila, M., 2014. A Survey of Female Entrepreneurs in Australia: Investigating the factors motivating women to become entrepreneurs.
Kelley, D.J., Singer, S. and Herrington, M., 2012. The global entrepreneurship monitor. 2011 Global Report, GEM 2011, 7.
Lahti, E., 2013. Women and leadership: factors that influence women’s career success: female leaders’ reflections on their career development and leadership.
Lisetchi, M. and Brancu, L., 2014. The entrepreneurship concept as a subject of social innovation. Procedia-Social and Behavioral Sciences, 124, pp.87-92.
McGowan, P., Redeker, C.L., Cooper, S.Y. and Greenan, K., 2012. Female entrepreneurship and the management of business and domestic roles: Motivations, expectations and realities. Entrepreneurship & Regional Development, 24(1-2), pp.53-72.
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Solesvik, M., Westhead, P. and Matlay, H., 2014. Cultural factors and entrepreneurial intention: The role of entrepreneurship education. Education+ Training, 56(8/9), pp.680-696.
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