Chapter 11: Conclusion
Over the last several decades, women entrepreneurs have made significant progress across industries and sectors. As the number of women entrepreneurs has increased dramatically worldwide, the research on women entrepreneurs has risen steadily during the same period. It has been increasingly recognized that entrepreneurship plays a crucial role in successful economies (Djankov et al., 2006a). The Schumpeterian approach to growth advances the view that entrepreneurial dynamism is the key to innovation and growth. A growing body of policy work emphasizes the important role of entrepreneurs in economic development (World Bank, 2011). Alleviating women’s poverty levels is key to uplifting a nation and its citizens. Entrepreneurship development has become recognized as a functional means of tackling various countries’ socioeconomic challenges of slow growth rates, rapidly increasing unemployment and racially inequitable distribution of income (Ahwireng-Obeng, 1993). Though the three major stages in the entrepreneurial process – of creating, nurturing and nourishing – are the same for men and women, there are, in practice, problems faced by women which are of different dimensions and magnitudes, owing to social and cultural reasons. A focus on the entrepreneurial class to elevate the economy is important since various studies are recognizing the impact of entrepreneurs and especially women entrepreneurs on a country’s GDP (Gross Domestic Product) and thus economic growth (Center for Women’s Business Research, 2009).
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