Determinants and Challenges Influencing Women Entrepreneurs Business Success: A Case Study in Naval, Biliran

Women entrepreneurs are significant contributors to the economic development of any country and their role becomes more vital in improving the economic condition of developing countries. This highlights the important role of women-owned small and medium enterprises (SMEs) and their entrepreneurial success. This study investigates the factors influencing the success of women entrepreneurs in Naval, Biliran, and the challenges they face. A total of 258 women entrepreneurs were randomly selected to participate using a modified standardized questionnaire. Employing a quantitative approach with a descriptive-correlational design, the study utilized Spearman’s correlation to assess relationships between entrepreneurial traits and business success. Results revealed that the need for achievement, self-confidence, and risk-taking significantly contribute to business success, while legal constraints were not perceived as major barriers. However, participants reported considerable challenges such as limited training and education, lack of social and cultural support, restricted access to financial resources, and difficulties in balancing work and family roles. Notably, a significant positive correlation between educational attainment and the ability to overcome socio-cultural barriers was identified, suggesting that higher education enables women to better navigate societal expectations and limitations. These findings underscore the need for targeted interventions, including training programs, accessible funding, and family-inclusive strategies, to support the growth and success of women-owned businesses. The results offer valuable insights for policymakers and development agencies aiming to create a more supportive entrepreneurial ecosystem for women in the region.