Factors Affecting the Male and Female Entrepreneurial Success in India
Main Article Content
Abstract
Purpose: The current study aims to explore the antecedents of entrepreneurial success in India by examining the impact of digital transformation, dynamic capabilities, classical factors, personal factors, and gender differences on firm performance and sustainability performance.
Design/Methodology/Approach: A quantitative approach was adopted, utilizing a cross-sectional survey method. Data were collected from 450 entrepreneurs in Uttarakhand, India, using a structured questionnaire. Structural Equation Modelling (SEM) and Confirmatory Factor Analysis (CFA) were employed to test the hypotheses and validate the measurement model respectively.
Findings: The study found that digital transformation and dynamic capabilities significantly enhance both firm performance and sustainability performance. Classical factors, including socio-economic and cultural factors, along with personal factors such as entrepreneurial education and orientation, also positively impact entrepreneurial success. Gender differences did not significantly moderate these relationships, indicating similar benefits for male and female entrepreneurs.
Research Limitations/Implications: The study is limited by its cross-sectional design and the focus on a specific geographical area. Future research should adopt longitudinal approaches and explore different cultural and economic contexts. The findings suggest that policymakers should invest in ICT infrastructure, create a supportive socio-economic environment, and promote entrepreneurial education to enhance entrepreneurial ecosystems.
Practical Implications: Businesses should prioritize digital transformation and develop dynamic capabilities to remain competitive and sustainable. Integrating sustainable practices and fostering an entrepreneurial orientation among employees can further enhance firm performance. Gender-specific support programs can address unique challenges faced by female entrepreneurs.
Originality/Value: This study provides a comprehensive framework for understanding the factors influencing entrepreneurial success in India, with a specific focus on digital transformation, dynamic capabilities, and gender differences. The findings offer valuable insights for policymakers, industry actors, and educators aiming to support and promote entrepreneurship.