Determinants of Profitability of the Microenterprises led by Women Micro Entrepreneurs: Evidence from Mumbai Slums

Establishing a relationship with these business owners is important as it relates to the profit and growth of the various concepts in the financial acquisition that involve participants. The overviews of these financial documents pertain to profitability that demonstrates the methodological triangulation of women-owned businesses in Florida. The study can help women-owned business to expand by using the knowledge on financial strategies to increase their business profit while improving on job growth in Florida.

(Business Management: a contemporary compilation). The Growing interest in the area of Entrepreneurship has developed in changing roles of small businesses. Small Entrepreneurship has great potential in developing countries. Due to Statistics and analysis of several countries, it is shown that Small Industries have grown faster than large industries. Large Industries lost jobs as Small Industries created workplaces. The Focus is on Small Industries which led to the main source of employment in the country.

Small businesses are mighty minnows, reflecting the competitive spirit that a market economy needs for efficiency; they provide an outlet for entrepreneurial talents, a wider range of consumer goods and services, a check to monopoly inefficiency a source of innovation, and a seedbed for new industries; they allow an economy to be more adaptable to structural change through continuous initiatives embodying new technologies, skills, processes, or products (Ibielski 1997, p. 1).

This chapter assesses the different literatures written in the areas of entrepreneurship, women entrepreneurs, women entrepreneurs in SMEs, Women entrepreneurs in SMEs in Mauritius, the factors influencing the performance of women entrepreneurs in SMEs and the supports given by institutions to SMEs.

The accessibility of businesses through social media and the web have made many entrepreneurs able to reach consumers throughout the world they would otherwise not be able to do business with. Women have often found themselves underperforming in the workforce and as traditional small business owners in comparison to similarly employed or self-employed men (Huarng et al., 2012). However, there has been little research investigating the extent to which these new social media, web, and digital marketing technologies and their strategies benefit women entrepreneurs of already profitable small businesses in comparison to men who employ similar strategies. A descriptive quantitative study is needed to investigate the use of social media, web, and digital marketing technologies in the businesses of successful women entrepreneurs in comparison to similarly successful men entrepreneurs by studying the effects of their digital strategy by concentrating on their digital analytical data on similar digital and social media platforms and measuring that data. This study plans to provide data that will help determine whether profitable small businesses are effected by gender on the Web 2.0 and help close the gender gap.

This paper examines managerial economics and practices of women-owned small business (WOSB) firm that is located in the Washington Metropolitan Area that I was previously employed. It provides brief description of the firm’s organizational structure; discusses some agency problems and how those problems might be controlled; describes the job dimensions with an eye towards improvement designs; and describes the firm’s compensation packet for executives and employees. Finally, the name of the firm will not be identified, however, a fictive name will be used and the company will be identified as Company X for narrative purposes.

Profile of Companies An online survey was conducted in July 2009 with the CEOs or Heads of Sales at small- and medium-sized enterprises serving low-income customers in developing countries. The majority of respondents (31 of 42) have fewer than 100 employees and 69% percent have less than $1 million in annual revenues. The age distribution of survey responders is fairly even with 21% of companies in their first year of operations, 31% with two

A small business will employ less than 250 employees as it is a company that is independently owned and “is not dominant in its field of operation” (Bovée and Thill, 2008). There are three aspects: micro, small and medium. A microbusiness will have a turnover of less than or equal to £2 million and will employ between 1-9 employees (see appendix 2). On the other hand, a small business will have a turnover of less than or equal to £10 million and will employ from 10 – 49 employees and lastly a medium business will employ from 50-249 people and have a turnover of less than or equal to £50 million (BMG Research, 2013). Small businesses have been defined as such due to their annual revenue and/or number of employees which was defined by the SBA (U.S Small business administration).

WASHINGTON - The Senate Committee on Small Business and Entrepreneurship met last Thursday to discuss legislative ways to strengthen the entrepreneurial ecosystem for women in the United States.

Micro² is a kind of business that was created by people who are self-employed. Micro² usually is not creative, in which means I just have to follow some traditional business mode, that is not risky and low-cost, of the field I want to do. What I need to do is to find a good place where customers have a big enough demand of my product or service and ensure my business is competitive enough in that area. Besides, the most common way for Micro² to advertise their business is to use the word of mouth and some inexpensive flyers or advertisements in newspaper etc.. However, I do not think my financial service business fits into Micro², since my rough plan is to start my financial service around 10 Speare Place, and there are 14,196 finance companies in this area, which is not a big number compared to other fields, such as real estate and technical service. In addition, individual proprietorships

Majority of the women entrepreneurs belong to Middle age category (age category 31 to 40 years). Middle age group actually dominates women entrepreneurship in the slum because most of these women have school going children. It gives them free time to initiate a business. Followed by the age group of 40-50 years.

• Number of people employed: The number of people varies from country to country. In Uganda the figure is put to between 5-50. In India, the figure is that between 30-100. In the United States, small enterprises are those which employ less than 500 people. In Kenya business with 10 or fewer workers are called micro enterprises.

The Malawi financial scoping survey on micro, small, and medium enterprises (2012) shows that Malawi has close to 760, 000 small business owners generating annual revenue of about US$2billion, but 60 per cent of whom do not use financial services. The small business owners in Malawi are relatively young with an average age of 31 years, with 70 per cent of them having just primary education. The MSME sector creates employment for just over a million people. The 2012 MSME survey established that 59% of MSMEs were excluded from financial services, as opposed to 31% that are formally served by some sort of financial system, with the balance relying on informal services. Only 22% are banked. Over three quarters do not borrow funds, primarily because they doubt their ability to repay loans. Of those who borrow, informal credit systems tend to be the primary source of credit. The survey establishes that the smaller the business in terms of number of employees the less likely that the owner has or uses banking services to manage the finances of their business. In recognition of the role that SMEs play in the economy, the Government of Malawi has made the development of SMEs a priority MSME policy (2007).

Theysaid that the government must seek to develop programmes to target small and microenterprises. They wish that the government would design a realistic, practical andtransparent regime of incentive and training in order to give momentum to small businessdevelopment. They stress that the ministry must not comprise probity, transparency andissues relating to standard, and quality in its effort to emphasize small businessfacilitation. They suggested that the country needs to educational implementations in place because you cannot put uneducated people to operate business. The graph belowwas gathered at the interview by the authorized officials.

The importance of small and Micro Enterprises (SMEs) in the economy of any country cannot be overlooked. In fact for nearly 15 years, most researchers dealing with economic planning have highlighted the significance of these enterprises stating that they are a key player in realizing any country’s economic goals. As such, governments as well as other organizations with interest in development are laying plans and strategies to promote the establishment of Small and Micro Enterprises. This is seen as a move to ensure that there is full participation of SMEs in the country’s economy. The Small and Micro Enterprises have been known to contribute to a large extend as a source of innovation, entrepreneurial skills as well as source of employment. For example, statistics in 25countries of the European Union show that 99% of the jobs provided to its citizens come from the micro, small and medium-sized enterprises. Rowe (2008) points out that the British economy relies heavily on the participation of SMEs. On the other hand, 99% of the UK’s economy is composed of small and micro enterprises.