Year of Graduation
Motivational Factors for Female Entrepreneurs
Currently, a lot of women across different countries consider entrepreneurship a possible career choice and have a desire to start a new business. Although the number of such women is increasing, a significant gap in studying particular factors that motivate women to choose an entrepreneurial career. Nonetheless, the female entrepreneurship rate is remarkably lower than that of men. This paper investigates women’s rationale in order to strengthen entrepreneurs’ input to national economic growth, social life and worldwide development. It also aims to classify drivers of two types of early-stage entrepreneurial activities: opportunity Total Entrepreneurial Activity (TEA) and necessity TEA. Received classification is compared to elements found to be influential in the case of male total early stage-entrepreneurial activities. Using GEM APS Global Individual Level Data for the year 2015, Total Early-Stage Entrepreneurial activities of various types (opportunity and necessity) were regressed on socio-demographic factors and factors characterizing attitudes, perceptions, and intentions (i.e. preference for similar standard of living in the country, personal knowledge of someone who started a firm in the past two years, etc.). It was found out that female gender is negatively associated with opportunity TEA and positively associated with necessity TEA, which supported previous studies findings. It was also found out that fear of failure negatively affects both male and female perception of entrepreneurship as a good career choice. Besides that, disclosure of such motivating factors as necessary skills possession and entrepreneurship endorsement in society might direct policy-makers and other state bodies, that aim to promote entrepreneurship and create a favorable business ecosystem.