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The IUP Journal of Entrepreneurship Development

Examining Women Entrepreneurs' Attitude Towards Informal Funding Sources and Their Empowerment in Tamil Nadu: An SEM Analysis

Article Details

Pub. Date	: Dec, 2023
Product Name	: The IUP Journal of Entrepreneurship Development
Product Type	: Article
Product Code	: IJED041223
Author Name	: Toopalli Sirisha and Nalla Bala Kalyan
Availability	: YES
Subject/Domain	: Management Journals
Download Format	: PDF Format
No. of Pages	: 13

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Abstract

The main objective of the study is to examine women entrepreneurs' attitude towards informal sources of funding and its impact on their empowerment in Kanchipuram district of Tamil Nadu, India. The study uses structural equation modeling (SEM) for analysis by adopting quota sampling with convenient sampling technique. The respondents were selected from three segments- agriculture-related, dairy and weaving businesses. The results show that the five factors used in the study-loan procedure and processing time, loan amount and interest rate, repayment schedule, flexibility in terms and conditions and easy collection method-have a significant impact on women entrepreneurs' attitude towards informal sources of funding, leading to their economic and social empowerment.

Introduction

An enterprise is the focused activity of an individual or a collection of associated individuals to initiate, continue, or classify a profit-oriented business unit for the production or movement of economic services and goods, according to Cole (1959), characterized entrepreneurship as "the capacity of viewing production opportunity and investment, sorting out an enterprise to attempt another production process, hiring labor, raising capital, organizing the inventory of raw materials and choosing top managers for the day-to-day activity of the enterprise.

Therefore, one may just view the term entrepreneurship as a way toward inventing, taking decisions, expecting hazard, bearing vulnerability, and making the enterprise a success. Recently, women's involvement in business has increased dramatically in India, following the revolution in development and globalization (Metcalfe and Mutlag, 2011; and Women Matter, 2014). The term 'women entrepreneurship' can be defined as the initiative a woman or a group of women takes to organize and operate a business enterprise (Rashmi, 2016).