Abstract:
Although contemporary economies take women entrepreneurship seriously,
the uptake of entrepreneurship activities by women remains low in Sri Lanka;
the involvement of women-run businesses in economic development is
minimal. Using a quantitative research methodology that involved the filling
in of objective questionnaires by female entrepreneurs, the study sought to
establish the challenges faced by women entrepreneurs in Sri Lanka, identify
contributing factors to these challenges and consider the roles played by
different stakeholders in promoting women entrepreneurship. The study
revealed that most women who are actively engaged in business are aged
between 30 to 49. Because of the power of education, these women believe
that they are capable of running successful businesses. However, some women
feel that they are weak and marginalized. All the study participants have less
than 10 years of experience in the business. There is inadequate Government
support and most of the women lack knowledge about where they could get
support. Despite having legislation that supports women’s participation in
economic development and the business interests of women, women remain
underrepresented in national economic activities. Significant challenges faced
by women in business in Sri Lanka are related to cultural factors, funding and
lack of information. More research-based strategies are required to create
awareness of the business opportunities available for women entrepreneurs in
Sri Lanka. The study concluded that women entrepreneurs is fairly new in Sri
Lanka hence there is a need for further research on women entrepreneurs and
how it benefits different stakeholders. Gender justice based socio-cultural
reorientation in Sri Lanka could allow more women to explore their potential
in business without fear of victimization and marginalization.
