This article is an attempt to trace the actual state of academic research on female entrepreneurship. Reviewing and summarizing the trends emerging from the findings of previous studies on women's presence in the entrepreneurial activity during the last decade, and presenting them according to Gartner's (1985) new venture creation framework. It involves the individual characteristics of the entrepreneur, the nature of women-owned business, the process by which the new business is started, and the environment surrounding the new venture. We present for each of these dimensions emerging trends, future research and implications are proposed.
The female-entrepreneurship is having a greater importance within economies, according to the GEM (2005) estimates that about 73 million people are active entrepreneurs in the 34 nations, of those 40,54% are women. Female entrepreneurship can be considered a very broad and recent field of study, where several theories can be linked to the study of this phenomenon, such as gender theories, managerial theories, public policy, etc. that is probably the reasons why most of research in the area are empirical and not properly theory development. The papers reviewed utilize the feminist theories of social and liberal feminism as the most frequently used theories. In relation to the individual dimension, the entrepreneur, it could be said not major differences exist between male and female entrepreneur, both utilize a common entrepreneur profile; except for experience in professional activities. But, special attention should be paid to the most recent studies that explore a genetic basis for special attributes of women in social ability and empathy , which could implie a better performance of companies created and run by women because of a better communication with their employees, suppliers and customers. And with regard to the social feminism theory should be further studied to determine how the societal experience of women influences their entrepreneurial activity. It would result very interesting to focus on these theories since most authors conclude women and men use common personal characteristics as entrepreneurs. So, it will worth to look in new theories that point on new aspects of skills and personality.
Related to the organization created by women, future studies should draw special attention to the sector or industries in which the venture created by women is situated. And very small quantity of research was dedicated to the analysis of strategic and structural forms of organizations run by women. Most of research focus to the performance of their companies against male-owned business. But, what we have observed in the studies are differences on performance measurements and then, different conclusions have been produced. Most performance studies only consider the economic elements (tangible) and not deal for instance, with levels of satisfaction (intangible); which should be specially taking into account in women-owned businesses, since women consider them as very important factors, even more than economics factors.
In the field of female entrepreneurship, the venture creation process dimension is the level least studied. Very few papers have been written on the subject, therefore making it still necessary to explore and identify critical variables as well as specific activities women engage in to create a new business, giving special attention to networking and social capital roles.
Concerning the environment dimension, it was showed entrepreneurship is a contextual field, and for women sociocultural aspects have a great influence. The family support, sex roles, society's perceptions of, or attitudes toward venture creation and the image of women entrepreneurs are very influencing in their career choice decision to become an entrepreneur. Even though these significant indicators were identified within the empirical studies reviewed, few studies had focused on them. And women entrepreneurs are increasing their presence in all kind of societies (developed countries and developing countries).
In general, results important to mention the limited existence of comparative studies, and studies involving developing countries. Very little research pertaining to developing countries has been carried out, according to the studies reviewed here, it is mentioned differences in women entrepreneurs from one society to another exist. Then, more comparative studies that include developing countries should be carried out and the influence of situational environment on venture creation by women should be further studied.
As far we can see there exist a lot of factors to explore in this very attractive area of study, since women are increasing their presence in the business arena. We as researchers and managers have to understand how operate these important players with special and great potential in our economies.
Journals reviewed: Frontiers of Entrepreneurship, Journal of Business Venturing, Entrepreneurship, and Theory & Practice. Maika Valencia (2005), ESADE working paper, “The female-entrepreneurship field: 1990- 2004” .
For instance, the book of Baron-Cohen, S. (2003). “The essential difference: male and female brain”
© Leadership 2008. Todos los derechos reservados.