Determinants influencing the entrepreneurial success of MSMEs in emerging economies: a study of Indian women entrepreneurs

This study examines the influence of internal and external factors on the success of women entrepreneurs who own and manage Micro, Small, and Medium Enterprises (MSMEs) in India. A structured questionnaire was used to collect data from 700 women entrepreneurs using a simple random sampling technique to achieve the objectives. This research uses quantitative research methods to analyse data using the partial least squares (PLS) structural equation modeling (SEM) method. The study found that the need for achievement, risk-taking, self-confidence, financial, and socio-cultural factors significantly and positively influence the success of women entrepreneurs. Research on the factors influencing the success of women entrepreneurs is crucial for developing nations, particularly India. This study aims to address existing gaps in the literature by identifying new factors that contribute to the success of women entrepreneurship in emerging countries like India. The findings will be of use to policymakers and industry experts in designing appropriate policies and strategies to promote the untapped potential among women entrepreneurs in India.This study provides valuable insights into the key factors influencing the success of women entrepreneurs managing Micro, Small, and Medium Enterprises (MSMEs) in India. By examining both internal and external drivers—such as the need for achievement, risk-taking, self-confidence, financial resources, and socio-cultural factors—this research contributes to a deeper understanding of how these elements collectively shape the entrepreneurial outcomes for women in emerging economies. The findings underscore the importance of targeted support systems, policies, and strategies that empower women entrepreneurs and foster a conducive environment for their growth and success. This research also addresses existing gaps in literature, offering new perspectives on the unique challenges and opportunities faced by women entrepreneurs in India. The results will serve as a critical resource for policymakers, industry experts, and stakeholders looking to leverage the untapped potential of women entrepreneurs in India, thus driving economic growth, promoting gender equality, and enhancing the overall entrepreneurial ecosystem. By highlighting these success factors, the study advocates for a more inclusive and supportive framework for women entrepreneurship, ensuring that they can contribute more effectively to the economic development of India.