Challenges faced by female entrepreneurs of small businesses in a small island state. A grounded theory study

Abstract

This paper aims to determine the challenges encountered by female owners of small businesses in a small island state. The primary objective of this grounded theory study is to identify and assess these challenges. The outcome of this study will contribute to implementing Sustainable Development Goals 2030, specifically relating to poverty and education, with a focus on female entrepreneurs. Grounded Theory is the methodological stance adopted by the researcher for this research study. Grounded Theory consists of a series of systematic and iterative steps for sampling, data collection and analysis, coding, creating a coding schema, memoing and reflexivity. This process leads to the construction of an initial conceptual model. This study was based on the participation of eighteen female entrepreneurs in a small island state. The researcher conducted in-depth, semi-structured interviews to elicit rich insights from the participants on the research area. The researcher conducted a four-stage coding process using the qualitative software MAXQDA. Constant comparison of data was implemented throughout the data analysis. Constructs were placed in a hierarchical structure using Corbin and Strauss’s Conditional Matrix coding paradigm. Preliminary results show that challenges of female entrepreneurship may vary from business-related matters, and financial challenges, to personal and family-related issues. The personal characteristics of ambition, determination and perseverance are crucial for success. Exposure to business and enterprise education plays a crucial role in enabling entrepreneurs to enhance organizational performance. Knowledge of IT skills and eagerness to learn about accounting software programs, use of digital marketing and having an entrepreneurial mindset are effective contributors to success stories. The conclusions of this research study highlight the need for diverse educational programs and forms of support to overcome the challenges faced by female entrepreneurs in small businesses. Such educational programs include business and enterprise education, IT skills and digital marketing.