Navigating Financial and Marketing Hurdles: Key Skills Women Entrepreneurs Need to Thrive

Abstract

Women entrepreneurs face several challenges in doing business, as they are required to balance dual roles involving both family responsibilities and entrepreneurial activities. Family obligations such as child upbringing and the care of parents and in-laws significantly affect their ability to devote time and energy to business operations. In addition, many women entrepreneurs experience limited financial and familial support, persistent gender bias in the business environment, restricted networking opportunities and reduced social engagement. To overcome these challenges, women entrepreneurs must demonstrate courage and self-confidence. They require essential skills such as capital acquisition and fund management, marketing competencies to promote and sell products, financial and digital literacy. Furthermore, soft skills including leadership, problem solving ability, decision making, adaptability and resilience are critical for sustaining and growing their enterprises. This study analyses the demographic variables of women entrepreneurs. A descriptive research design is adopted, and data are collected using a random sampling technique. The Analysis of Variance (ANOVA) statistical tool is employed to identify differences among various categories of women entrepreneurs and variations within groups. The findings of the study highlight the key skill sets required for entrepreneurial success and identify areas where women entrepreneurs need further skill development. The study also examines strategies for achieving work life balance and evaluates the impact of skill enhancement in overcoming business hurdles and achieving long term business success.