The Challenges and Performance of Female-Owned Entrepreneurial Firms and Management Strategies

Abstract

In India, society has set some unsaid rules. Some find it difficult to accept women in a work environment because of the patriarchy. Hence it becomes difficult for a woman to break the stigma and establish her own firm. The paper aims to look at the number of threats and challenges that female entrepreneurs face from both micro and macro perspectives. Covid has bought both temporary change (workplace change) and permanent change (shutting down a service/facility) in an organisation. A small new rising firm would not have the capacity to sustain during this time, and females who try to set up small businesses to run their families are mentally affected. This article is an extensive review from earlier works to understand the challenges faced by female owned entrepreneurial firms and their performance during the change brought by COVID times. This article explores the factors influencing the development of female entrepreneurs as well as measures required to enhance the scenario. This paper also aims to explore the psychosocial aspect of changes brought by female owned entrepreneurial firms.