A growth model for understanding female-owned enterprises

Oyedele Ogundana, Amon Simba, Leo-Paul Dana and Eric Liguori

Journal of the International Council for Small Business, 2024, vol. 5, issue 2, 85-94

Abstract: Numerous policy initiatives designed to support the growth of female-owned enterprises in the developing economies have repeatedly failed to achieve their objectives. Research recognizes the lack of contextualized growth models for defining female-owned enterprises in such contexts as the main issue. Thus, and drawing from our qualitative data, we propose a growth model to account for the business development activities of female-owned enterprises from a developing economy perspective. Through analyzing our qualitative data, it emerged that money (access and utilization), management (nonformal education and experience), and market (customer intelligence) were direct determinants of the growth trajectories of female-owned enterprises. Motherhood (household and family), meso- (membership of professional networks and social learning), and macro-environment (sociocultural and economic issues) indirectly influenced their growth by mediating women’s access and utilization of the aforementioned direct determinants. From that, we offer recommendations for practitioners including public authorities and key actors within the entrepreneurial ecosystem that provide the support infrastructure for female-owned enterprises in a developing economy.

Date: 2024
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DOI: 10.1080/26437015.2022.2100296

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