12Department of Banking and Finance, Faculty of Business Studies and Finance, Wayamba University of Sri Lanka, Kuliyapitiya, Sri Lanka
In terms of the population that is economically active, Sri Lanka has one of the lowest proportions of women. Women entrepreneurs are individuals who put their own unique ideas into practice, coordinate and integrate numerous production factors, and run their companies while accepting the related risk. Women can increase their engagement in the labor force by being encouraged to become entrepreneurs and launch their own enterprises. Although they make up a small share of all employers today, women make up a tiny portion of those starting or running new businesses. Although there have been numerous studies conducted to examine the entrepreneurial intentions of academics, graduates, and students, little is known about the entrepreneurial intentions of women in the Sri Lankan environment. Further research is needed to address the issue of women being underutilized resources and to identify the elements that influence women’s entrepreneurial intentions. As a result, the current study was conducted to identify the variables influencing women’s entrepreneurial intentions in Sri Lanka in order to address the issue of the lack of female employers. The study was quantitative and cross-sectional in nature. 200 women were picked using a convenience selection method, and each received a structured questionnaire. The SPSS 23 tool was used to do a multiple regression analysis and calculate the Pearson correlation coefficient on the data set. Results revealed a significant inverse association between age, family background, and entrepreneurial inclination. The findings also showed a substantial positive association between women’s ambition to start their own business and business experience, the need for more money, the want for security, the desire for status, self-efficacy, the inclination to take risks, and cultural attitudes. Women’s entrepreneurial ambition was not shown to be statistically related to education, need for achievement, locus of control, inventiveness, social network, economic status, political procedures, or perceived amount of support. It can be concluded that, when women own their own businesses or work for themselves, their income levels are greater, which gives them more freedom to make their own decisions and A woman might have business goals without being a relative of an entrepreneur.
Keywords: Entrepreneurial Intention (EI), Women, Personality Traits, Contextual Factors, Motivational Factors