Abstract:
Women entrepreneurship is a subject of much interest and significance in the
world. Recently it has been gaining higher importance in Sri Lanka with the
economic changes and globalization. Legislations have been created with laws
and by-laws to support motivating entrepreneurship, encouraging education
and training for potential entrepreneurs; which in return has contributed
towards the empowerment of women. Literature confirms that there are many
successful stories of female business entrepreneurs in Sri Lanka. As observed
in countries like Japan and Spain, the development and nurturing of women
entrepreneurs would be a value addition to the development and prosperity of
the whole country. Many women leave their respective employment for
various reasons. Such women can be encouraged to be entrepreneurs who will
contribute to the income of their family as well as the development of the
country. This will even construct a significant shift in the demographic
characteristics of business and economic growth of Sri Lanka. Women
entrepreneurs provide a strong, empathetic and supportive role in the society.
All these reasons, created the motivation for the researcher to study this area.
This article intends to identify the various issues and challenges faced by
women entrepreneurs of Sri Lanka, the competencies they exercise to
overcome them and to find out whether the women entrepreneurs have made
an impact on the development of Sri Lanka. This research was undertaken
using qualitative methodology in a chosen sample of 22 women entrepreneurs.
In conclusion the outcomes identified that the women entrepreneurs were
highly capable in motivating employees, retaining customers, creating job
opportunities and they invested most of their earnings for the betterment of
their family. The study will reemphasise the importance of women
entrepreneurs who transform families and society, while making contributions
to the business development of Sri Lanka.
