Creation of Successful Women Entrepreneurs in Sri Lanka in the SME Sector—An Examine Towards the Learning of Entrepreneurship Theories at a Micro Level by the Women Entrepreneurs in the Non-traditional Industries of Sri Lanka

Abstract

Women have embarked on their own business ventures in unprecedented numbers in recent years. They give up lucrative jobs in the corporate sector to establish their own new businesses. This could be due to various reasons, such as frustration at hitting the “glass ceiling”, dissatisfaction with slow career advancement and unmet career expectations, and corporate downsizing. They are also fulfilling personal dreams of entrepreneurship, being their own boss, and achieving success in business. Over the years it has been men who have been at the forefront of the corporate business world. However, this trend has been challenged by several successful women entrepreneurs who have made their mark with their own success stories. Women starting their own business ventures have grown so large, so it is important now to understand whether their experiences are different from those of their male counterparts. Consequently, we are learning much more about the women who are piloting their ventures in the turbulent seas of the current economic climate. The study is concerned on understanding what theories can be applicable for the creation of women entrepreneurs to analyze the salient features for such successful creations. The research area is still in its exploratory stages, and empirical research and other relevant literature are limited. Based on the available literature, the researcher has identified three main factors that influence creation of entrepreneurs, which are mainly economic, socio-cultural, and physiological approach. The research was conducted identifying 10 successful women entrepreneurs, whose businesses are based on the non-traditional industries. They were interviewed based on the discussion guide that was developed by the researcher and the findings were analyzed using thematic network analysis. It was seen that theories like marginalization theory, theory of entrepreneurial profit, and theory of occupational uncertainty have moved out from the current context of creation of entrepreneurs