Female Entrepreneurs and their Challenges: A Case Study of Gujarat State of India

Abstract

The purpose of this study is to explore the diverse challenges and opportunities faced by female entrepreneurs in urban Gujarat, India, with a specific focus on access to finance, innovation capabilities, business growth, and work-life balance. The primary objective is to investigate how access to finance influences these dimensions of entrepreneurial success among women in a dynamic economic landscape. Methodologically, the study employed a purposive sampling technique to survey 95 female entrepreneurs across various industries and geographical locations within urban Gujarat. Data were collected through structured surveys that addressed access to financial resources, innovation efforts, business growth metrics, and perceptions of work-life balance. Statistical methods included descriptive statistics, Cronbach's Alpha for evaluating reliability, and multiple regression models to explore the correlations between access to finance and the dependent variables. The findings underscored the pivotal role of financial support and investment in facilitating business growth, enhancing innovation capabilities, and improving work-life balance for female entrepreneurs. Demographic insights revealed that a significant proportion of respondents were aged between 25-35 years, predominantly graduates, engaged in technology and service sectors, and mostly married. In conclusion, the study advocates for tailored financial products and supportive policies that address the unique needs of female entrepreneurs in urban settings. It suggests avenues for future research to delve deeper into sector-specific challenges, longitudinal impacts, and qualitative insights to foster a more inclusive and supportive entrepreneurial ecosystem. By addressing these critical areas, stakeholders can better support female entrepreneurs, ultimately contributing to economic growth and gender equity in the entrepreneurial landscape of urban Gujarat.