Abstract:
Entrepreneurship has been considered as a male-dominated vicinity for many years, but in
today's society there are many women running their respective businesses as outstanding and
inspirational entrepreneurs. With the economic changes and globalization, women
entrepreneurship has been gaining higher importance in Sri Lanka. Legislations have been
created with laws and by-laws to support motivating entrepreneurship, encouraging education
and training for potential entrepreneurs. Literature confirms that there are many successful
stories of female business entrepreneurs in Sri Lanka. As observed in countries like Japan and
Spain, the development and nurturing of women entrepreneurs would be a value addition to the
development and prosperity of the whole country. Many women leave their respective
employment for various reasons. Such women can be encouraged to be entrepreneurs who will
contribute to the income of their family as well as the development of the country. Women
entrepreneurs provide a strong, empathetic and supportive role in the society while
demonstrating unique characteristics when faced with challenges in running their businesses.
All these reasons, created the motivation for the researcher to study this area. This article intends
to identify the various issues and challenges faced by women entrepreneurs of Sri Lanka and
the competencies they exercise to overcome them. This research was undertaken using
qualitative methodology in a chosen sample of 24 women entrepreneurs based in Colombo, Sri
Lanka. In conclusion the outcomes identified the challenges and issues faced by the women
entrepreneurs along with the unique ways they faced and overcame these obstacles. It was
further reiterated that these women entrepreneurs were highly capable in motivating employees,
retaining customers, creating job opportunities and they invested most of their earnings for the
betterment of their family and country.
