A study of women business owners and the importance of selected entrepreneurial competencies related to educational programs.

Abstract

Retail entrepreneurs indicated a greater desire for education stressing entrepreneurial competencies than did service owners. Service entrepreneurs had a greater frequency of past attendance in entrepreneurial education than did retail owners.

The chi-square test identified 11 significant differences at the .05 level of significance between the service and retail areas; the median test revealed 8 significant differences.

The three competencies perceived as most important were: (1) knowledge of customers' needs, (2) ability to use oral and written communication skills, and (3) general knowledge of the total business or industry which is being entered.

A survey instrument containing 56 entrepreneurial competencies was completed by 106 self-employed women in service and retail industires in Kansas. The competencies were ranked by the respondents as very important, important, somewhat important, little importance, or no importance. The respondents also noted past attendance in educational programs and the demand for education stressing each of the competencies. The study was confined to the service and retail areas because statistics indicate that 75 percent of women entrepreneurs are clustered in these areas.

The problem of the study was to determine the selected entrepreneurial competencies most needed by women for successful business management of small businesses. A related problem was to ascertain the demand for educational programs in developing needed entrepreneurial competencies.

The primary objective of the study was to form a meaningful basis from which educational materials could be developed based on actual needs and desires of female entrepreneurs. The specific questions considered were: (1) Are there differences between service and retail industries in the importance of entrepreneurial competencies? (2) What entrepreneurial competencies are perceived as most important by women for success in business ownership? (3) What is the demand for educational programs emphasizing entrepreneurial competencies in retail and service industries? (4) What is the frequency of participation in past educational programs stressing entrepreneurial competencies?

Statistical means were used to rank the importance of the competencies by three groups--service, retail, and service and retail combined. Means were reported in rank order in five categories--General Competencies, Managerial Competencies, Marketing and Sales Competencies, Accounting and Financial Competencies, and Combined Entrepreneurial Competencies.