The Influence of Perceived Motivational Factors on Success of Women-Driven Ventures and Their Contribution in Economic Development

Abstract

Entrepreneurs are significant contributors in the economic growth of a nation. Generally, economic growth of any country is largely determined by the financial and social development of the women entrepreneurs. The objective of the study is to analyse the influence of perceived motivational independent variables on anticipated success of female venture holders. The existing literature arouse the need of significant study in the field of perceived motivation factors of women entrepreneurs, specifically in Madhya Pradesh, and an understanding of women’s participation in economic development of the state. A self-designed structured questionnaire was administered personally among female entrepreneurs engaged in small-scale businesses in different regions of Madhya Pradesh. The compilation of findings was done on the basis of empirical analysis of the explored motivational and the anticipated success factors. Accordingly, the hypotheses were framed and an eight-dimensional model making use of regression analysis is developed for identifying a meaningful relationship between explored inspirational and success accomplishment factors. The results of analysis state that the factors financial freedom and professional competency have greatest influence on the overall success of the venture followed by entrepreneurial attitude and supportive environment. Variables like prosperity and receptiveness are the least motivating factor towards the success of the venture.

Keywords

Economic Growth Motivational Success Financial Freedom Receptiveness Venture

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