Role of socio-cultural factors in shaping entrepreneurial decision and behavior: An Indian perspective

This study examines the role of personal and socio-cultural factors on entrepreneurial decisions and performance of women-owned small businesses in India. Using an interpretative approach, we explored the entrepreneurial journey of twenty women entrepreneurs. While the need for flexibility, family orientation, and work-family integration emerged as important personal factors shaping women’s decision to pursue entrepreneurship, family support emerged as a crucial factor for the survival and performance of the business. Gender discrimination and stereotype emerged as societal challenges, and the inadequacy of financial resources and limited institutional support posed as structural challenges. Strong motivation, risk-taking attitude, and persistence are the personal attributes that helped in nurturing the desire to pursue entrepreneurship. Apart from the evidence of Hofstede’s cultural dimensions, strong gender role ideology emerged as a deep-rooted cultural dimension affecting the attitude and behavior of women entrepreneurs. The findings will aid in the development of programs and policies to promote women entrepreneurship.