The Sustainability Analysis of Women-owned Businesses Examined Through the Impact of Selected Variables on Dimensions of Innovation Capacity

Abstract

Based on the assumption that today's market is an arena where only the best survive, this study examines the sustainability of women-owned businesses by exploring the level of influence of selected variables on specific dimensions of companies' innovation capacities. Using two commonly applied methodologies for assessing innovation potential, the IMP³rove methodology and the Innovate methodology, a questionnaire was constructed and a survey was conducted on a sample of 104 companies from various industries and financial capabilities. The obtained results revealed that women entrepreneurs are aware that competitiveness depends on their ability to enhance innovation capacities, regardless of their annual income. However, those who have better business networking and measure the time from product introduction to profit achievement generate the highest overall revenue. The study also demonstrated significant differences in innovation capacities across different business sectors and highlighted the impact of growth expectations on specific dimensions of innovation capacities. Accordingly, female entrepreneurs in sectors with high growth expectations (IT, media and communications, industry, education, and science) invest the most in employee training, collaboration with the academic community, and seeking external advice.