ENTREPRENEURIAL CHALLENGES AND CRITICAL SUCCESS FACTOR: A CASE STUDY FROM SRI LANKAN MUSLIM WOMEN ENTREPRENEURS

Abstract

Women entrepreneurship is demanded as a vital element to stimulate growth of most countries. It is also postulated that female entrepreneurs took part and played a vital role in the socio-economic development by means of stabilizing the economy particularly during the economic recession periods. Thus, this paper attempts to explore the success factors of Muslim women entrepreneurs in Sri Lanka, one of the developing countries in Asia. In addition, it also examines the challenges faced by these women in conducting their businesses. Interviews were conducted with ten successful Muslim female entrepreneurs. The interview results appear to indicate that psychological factors, human capital, support from family members as well as non-familial affiliations are important and contribute to the sustainability of their businesses. In addition, their access to resources as well as cultural factors contribute to their business success. This study provides information to the regulators and government agencies about the training, support and financial resources needed by this group of Muslim women entrepreneurs.