INTERRELATIONSHIP BETWEEN THE SECOND GLASS CEILING (FINANCIAL CHALLENGE), ENTREPRENEURIAL EFFICACY, AND ENTREPRENEURIAL SUCCESS AMONG MALDIVIAN WOMEN ENTREPRENEURS IN THE INFORMAL SECTOR
DOI:
https://doie.org/10.0712/AS.2024148916Keywords:
Second Glass Ceiling, Women Entrepreneurs, Financial Challenge, Resilience, Entrepreneurial SuccessAbstract
Entrepreneurship stands as a keystone in driving a nation's economy forward and fostering societal development. However, the representation of women entrepreneurs remains disproportionately low compared to male entrepreneurs. Thus, this research endeavors to explore whether financial challenge act as obstacles to the success of Maldivian women entrepreneurs operating within the informal sector, while also exploring the potential mediating role of self-efficacy in this dynamic. Drawing upon a sample of 100 women entrepreneurs from the informal economy of the Maldives, this research emphasizes that financial challenge acts as a barrier to entrepreneurial success. Additionally, it also uncovered the influence of self-efficacy on the success of women entrepreneurs, serving as a mediator amid financial challenges. These findings underscore the necessity for a reassessment of present policies, which appear inadequate and ineffective for catering to the needs of women entrepreneurs. It is crucial to adopt a more proactive and tailored approach to support women entrepreneurs in realizing their full potential.