FEMALE ENTREPRENEURS - A REVIEW OF THE LITERATURE AND PROPOSED CONCEPTUAL FRAMEWORK

This is journal is about female entrepreneurship. Female entrepreneurship has long been associated with concepts such as female empowerment and emancipation. Increasingly, it has also been marketed as crucial for increasing the quality of life of women in the developing world. The purpose of this research is to facilitate th            e discussion on how best to empower women using entrepreneurship. There are the different aspects of the model which are from motivation by push & pull theory, personal, social factors, financial factors and professional work environment also from family upbringing & networking, local governmental, financial & not-for-profit institutions, international development programs and management style & personal attributes by personal, financial, social & cultural, family and environment. Motivation is about personal factors like self fulfillment and achievement are motivational factors for females across the global. One significant factor contributing to this is the status of females in society, especially in the developing world. According to Nadgrodkiewicz, (2011), in lower-income classes, female entrepreneurship may be due to the need to meet family expenses, while among middle-income groups it can be attributed to the desire to raise the standard of living. International development programs on female entrepreneurship involve all the efforts made by developed nations, world financial institutions and other organizations working world-wide. They include financial & technical aid, assistance to managerial skills and other opportunities to grow business. According to Langowitz and Minniti, (2007) the role of females in the development of a country cannot be neglected or underestimated as it not only provides a platform for women to prove themselves and according to Eddleston and Powell, (2008) but also contributes to the welfare of the overall economy. Governments worldwide are taking steps to promote female entrepreneurial activities. The managerial approach of female entrepreneurs is more democratic than their male counterpart they build trust among their workers through transformational and interactive management style. Families play an important role in female entrepreneurship; recent studies reveal two opposing pictures in this respect. There is a dire need to understand the issues in the lives of female entrepreneurs so that they can be solved in a manner that will encourage other females to also think about entrepreneurship.