Predictors of Female Entrepreneurial Performance in an Emerging Market: A Theoretical Validation Approach

Abstract

This study examined the predictors of female entrepreneurial performance in small scale businesses in Enugu, Nigeria using a theoretical validation approach. The study specifically investigated the relationship between family background, level of education, social stereotypes, and business growth, customer retention, and spirit of industry among female entrepreneurs. Descriptive research design was used on a sample of 369 female entrepreneurs. The research instrument was a structured questionnaire, and data were analyzed with Spearman Rank Order Correlation analysis. The study found that family background of female entrepreneurs was a significant predictor of business growth of small scale businesses (r=.934; p<.05), indicating that females from entrepreneurial families were more likely to excel in the industry. Level of education was also found to be a significant predictor of customer retention in female-run small scale enterprises in Enugu, Nigeria (r=.949; p<.05), suggesting that higher levels of education among female entrepreneurs led to better customer satisfaction and loyalty. Moreover, social stereotypes was a significant predictor of spirit of industry among female entrepreneurs in Enugu, Nigeria (r=.927; p<0.05), implying that societal perceptions of female entrepreneurs influenced their motivation and drive to succeed in the industry. The findings have significant implications for policymakers, educators, and practitioners who seek to promote female entrepreneurship in emerging markets.

Keywords: Emerging market, Female entrepreneurship, Predictors of performance, Theoretical validation, government policy.

DOI: 10.7176/EJBM/15-18-05

Publication date: November 30^th 2023