MULUNGUSHI UNIVERSITY

SCHOOL OF BUSINESS

FACTORS INFLUENCING THE PERFORMANCE OF SMALL BUSINESSES: A CA

SE STUDY OF WOMEN OWNED BUSINESSES IN SOLWEZI.

By

CHITALU MUKOSHA

STUDENT ID

202200212

A Research Proposal Submitted at Mulungushi University Partial Fulfilment of the Req

uirement For The Award of Master of business administration and Entrepreneurship.
Dedication
I dedicate this research work to all the resilient and visionary women entrepreneurs in
Solwezi who continuously strive for success despite facing numerous challenges. Your
determination, innovation, and dedication inspire us all and contribute significantly to the
economic growth and development of our community. This study is a tribute to your hard
work and entrepreneurial spirit.

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Declaration
I, CHITALU MUKOSHA declare that this dissertation titled "Factors Influencing the
Performance of Small Businesses: A Case Study of Women-Owned Businesses in Solwezi" is
my original work, conducted under the supervision of [Supervisor's Name]. All sources of
information used in this study have been duly acknowledged and referenced. This dissertation
has not been submitted for any other degree or qualification at any institution.

ii
Copyright
All rights reserved. No part of this dissertation may be reproduced or stored in any form or b
y any means without permission in writing from the author or Mulungushi University.

© 2024, Chitalu Mukosha, Mulungushi University

Certificate of Approval
This dissertation by CHITALU MUKOSHA is approved as a partial fulfillment of the requir
ements for the award of the degree in Master of business administration and Entrepreneurshi
p.

Examiner 1 Signature Date

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Examiner 2 Signature Date

……………………….. ………………………. ………………………

Examiner 3 Signature Date

……………………….. ………………………. ………………………

Chaireperson
Board of Examinerners

……………………….. ………………………. ………………………

SUPERVISED BY:

Signed: ……………........................ Date: …………………………….

Acknowledgement
I would like to express my sincere gratitude to everyone who contributed to the completion of
this dissertation. Firstly, I am grateful to my supervisor, [Supervisor's Name], for their
guidance, support, and invaluable feedback throughout this research journey. Your expertise
and mentorship have been instrumental in shaping this study. I extend my appreciation to the
members of my dissertation committee for their constructive criticism and insightful
suggestions that enhanced the quality of this research. I also acknowledge the participants of
this study, the women entrepreneurs of Solwezi, whose cooperation and willingness to share

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their experiences provided the foundation for this research. Your contributions are highly
valued. I am thankful to my family and friends for their encouragement, understanding, and
unwavering support during this academic endeavor. Lastly, I acknowledge the financial
support provided by my family members which enabled me to conduct this research. Thank
you to everyone who played a part in this journey.

Abstract
This study investigated the factors influencing the performance of women-owned small
businesses in Solwezi, Zambia, focusing on demographic characteristics, access to finance,
business skills and training, market access, technological adoption, and the regulatory
environment. The findings revealed a diverse age distribution among entrepreneurs, with
most having secondary education or lower. Challenges in accessing finance included lack of
support, high-interest rates, and stringent requirements, aligning with existing literature.

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Business skills and training emerged as a significant gap, with many entrepreneurs lacking
comprehensive training opportunities. Market access was found to boost sales and allow for
diversification, while technological adoption had mixed impacts due to high costs, limited
infrastructure, and lack of technical knowledge. The regulatory environment often hindered
business growth, creating uncertainty and resource diversion. Strategies suggested for
improvement included targeted financial support, mentorship programs, improved policies,
and addressing infrastructure challenges. The study's findings were compared with literature,
highlighting gaps that enabled the researcher to make relevant recommendations. Using the
Resource-Based View (RBV) and social capital theories, the study emphasized the critical
role of unique resources, capabilities, and social networks in achieving and sustaining a
competitive advantage. Recommendations for enhancing the performance of women-owned
businesses in Solwezi included expanding access to finance, providing tailored training
programs, improving market access, fostering technology adoption, and creating a supportive
regulatory environment. Future research was recommended to explore the long-term impacts
of these interventions on business performance and sustainability. This comprehensive
analysis aimed to contribute to the understanding of the unique challenges faced by women
entrepreneurs in Solwezi and to propose actionable strategies for empowering them, thus
enhancing their economic resilience and growth.

Key words: Access to Finance, Business Skills and Training, Access to Market and
Technology Adoption

List of Abbreviation
RBV - Resource-Based View

RBT - Resource-Based Theory

US - United States

UK - United Kingdom

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ICT - Information and Communication Technology

GDP - Gross Domestic Product

SMEs - Small and Medium-sized Enterprises

NGO - Non-Governmental Organization

SBA - Small Business Administration

MSMEs - Micro, Small, and Medium-sized Enterprises

CSR - Corporate Social Responsibility

IFC - International Finance Corporation

GDP - Gross Domestic Product

OECD - Organization for Economic Co-operation and Development

SBs: Small Businesses

WOBs: Women-Owned Businesses

GDP: Gross Domestic Product

GDP: Gross Domestic Product

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Contents
Dedication..................................................................................................................................i

Declaration................................................................................................................................ii

Copyright.................................................................................................................................iii

Certificate of Approval...........................................................................................................iv

Acknowledgement....................................................................................................................v

Abstract....................................................................................................................................vi

List of Abbreviation...............................................................................................................vii

CHAPTER ONE: INTRODUCTION....................................................................................1

1.0 Overview.............................................................................................................................1

1.2 Background of the Study...................................................................................................1

1.3 Statement of the Problem..................................................................................................3

1.4 Aim of the Study.................................................................................................................3

1.5.0 Objectives of the Study...................................................................................................4

1.5.1 General Objective........................................................................................................4

1.5.2 Specific Objectives.......................................................................................................4

1.6 Research Questions............................................................................................................4

1.7 Significance of the Study...................................................................................................5

1.8 Delimitation of the Study...................................................................................................5

1.9 Limitation of the Study......................................................................................................6

1.10 Operational definition of terms.......................................................................................6

1.12 Organization of the Study...............................................................................................7

1.13 Summary of the Chapter.................................................................................................7

CHAPTER TWO: LITERATURE REVIEW.......................................................................8

2.0 Overview.............................................................................................................................8

2.1 Zambian perspective of the Owned-Business..............................................................8

2.2 The Entrepreneurship in Zambia...................................................................................12

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2.3 Theoretical Framework...................................................................................................14

2.3.1 Resource-Based View (RBV) theory........................................................................14

Application of the Theory..............................................................................................15

2.3.2 The Social Capital Theory........................................................................................16

Application of the theory................................................................................................16

2.4 Factors Influencing Performance of Women-Owned Businesses................................17

2.4 Empirical Review.............................................................................................................20

2.4.1 Global Perspective.....................................................................................................20

2.4.2 African Perspective....................................................................................................23

2.5 Impact of External Factors on Women-Owned Businesses..........................................25

2.6 Conceptual framework....................................................................................................26

2.7 Research Gap....................................................................................................................28

2.8 Summary of the Chapter.................................................................................................29

CHAPTER THREE: METHODOLOGY............................................................................30

3.0 Overview...........................................................................................................................30

3.1.1 Data Collection..............................................................................................................30

The 3.1.2 Data Analysis......................................................................................................31

3.2 Time Horizon....................................................................................................................32

3.2.1 Cross-Sectional Research..........................................................................................32

3.3 Research Method (Choices).............................................................................................32

3.3.1 Mixed Method................................................................................................................32

3.4.1 Study Population...........................................................................................................33

3.4.2 Sampling Technique......................................................................................................34

3.4.3 Sample Size....................................................................................................................34

3.4.4 Survey Methodology.....................................................................................................35

3.4.5 Interviews...................................................................................................................35

3.4.6 Focus Groups.............................................................................................................35

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3.4.7 Case Studies...................................................................................................................35

3.5.1 Deductive....................................................................................................................36

3.5.2 Inductive.....................................................................................................................36

3.6 Philosophies......................................................................................................................36

3.7 Validity and Reliability....................................................................................................37

3.8.1 Reliability and Trustworthiness of Data Collection Instrument...............................37

Credibility........................................................................................................................37

Transferability.................................................................................................................37

Dependability..................................................................................................................38

Conformability................................................................................................................38

3.9 Ethical Considerations.....................................................................................................38

CHAPTER FOUR: PRESENTATION OF THE FINDINGS............................................39

4.0 Overview...........................................................................................................................39

4.1.1 Age group characteristics..........................................................................................39

4.1.2 Educational Qualification.........................................................................................40

4.1.3 Years of Business Operation.....................................................................................41

4.1.4 Business industry operation......................................................................................42

4.2 Access to Finance..............................................................................................................43

4.2.1 Challenges in Accessing Finance..............................................................................44

4.3 Business Skills and Training............................................................................................48

4.4 Access to Markets.............................................................................................................50

4.5 Technological advancement........................................................................................52

4.6 Strategies to Improve the Performance of Women-Owned Businesses in Solwezi....54

4.7 Summary of the chapter..................................................................................................55

CHAPTER FIVE: DISCUSSION AND ANALYSIS OF FINDINGS................................56

5.0 Overview...........................................................................................................................56

5.1 Demographic characteristics...........................................................................................56

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5.2 Access to Finance..............................................................................................................57

5.3 Business Skills and Training............................................................................................58

5.4 Access to Market..............................................................................................................59

5.5 Technological Advancement............................................................................................60

5.6 Application of the theory.................................................................................................62

5.7 summary of the chapter...................................................................................................63

CHAPTER SIX: CONCLUSION AND RECOMMENDATIONS....................................64

6.0 Introduction......................................................................................................................64

6.1 Conclusion.........................................................................................................................64

6.2 Recommendations............................................................................................................64

6.2.1 Recommendations for the Current Study...............................................................64

6.2.2 Recommendation for Future Research....................................................................65

REFERENCES.......................................................................................................................66

APPENDICES........................................................................................................................72

Appendix I: Consent Form....................................................................................................72

Appendix II: Questionnaire:.................................................................................................74

Appendix III: Gantt Chart....................................................................................................78

Appendix IV: Budget.............................................................................................................79

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CHAPTER ONE: INTRODUCTION

1.0 Overview
Small businesses, particularly those owned by women, play a crucial role in driving economic
growth and development in many countries, including Zambia. In Solwezi, small businesses re
presented a significant portion of the economy, providing employment opportunities, fostering
entrepreneurial innovation, and contributing to poverty alleviation. Despite their importance,
many women-owned businesses face unique challenges that hinder their performance and gro
wth. This chapter sets the foundation for the research, presented the background to the study, p
roblem statement, purpose of study, research objectives, research questions, the significance of
the study, delimitations as well as limitations and operational definitions.

1.2 Background of the Study

Small businesses owned by women are an integral part of the global economy, contributing sig
nificantly to economic growth, job creation, and poverty alleviation. Performance of small bus
inesses owned by women has been a topic of interest for researchers and scholars in recent yea
rs. Women's presence in the business world has significantly increased in recent years, with a
notable growth in the number of women-owned businesses in the United States (Fafchamps &
Quinn, 2016). As of 2024, women are the majority owners in around 35 percent of U.S. emplo
yer firms. This translates to approximately 13.8 million businesses owned by women in 2024
update, which collectively employ 10 million workers and generate an impressive $3.9 trillion
in revenue across the country (Joanie, 2024).

Furthermore, women own about 28.6 percent of employer firms with revenues exceeding $1
million. Among these women-owned businesses, 24 percent are owned by minorities. Specific
ally, 3.6 percent are owned by Black or African American women, 13 percent by Asian women,
and 0.8 percent by Native American or Alaskan native women. These statistics reflect the sign
ificant progress women have made in business ownership, although challenges and disparities
still exist and need to be addressed (Koehn, 2017).

In the early days of the American economy, women were not typically found in positions of po
wer or leadership in the business world. However, as scholar Koehn notes in her book "Forged
in Crisis: The Power of Courageous Leadership in Turbulent Times," women have always had
a strong entrepreneurial spirit, even in the face of societal constraints (Koehn, 2017).

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Entrepreneurship plays a crucial role in driving economic growth and development in any cou
ntry. It is the backbone of thriving economies, as entrepreneurs create new opportunities, drive
innovation, and create jobs. In Zambia, entrepreneurship is becoming increasingly important a
s the country seeks to diversify its economy and reduce its reliance on traditional sectors such
as mining and agriculture (Koehn, 2017).

Entrepreneurship is essential for economic growth as it fosters innovation, drives productivity,

and creates jobs. Entrepreneurs are the driving force behind new businesses, products, and ser
vices that can disrupt traditional industries and lead to economic advancement. They bring ne
w ideas to the market, create competition, and stimulate economic growth through increased p
roductivity and efficiency. In Zambia, entrepreneurship is especially critical as the country see
ks to diversify its economy and create new opportunities for its growing population (Debrah et
al., 2017).

The entrepreneurship landscape in Zambia is evolving, with the government taking steps to su
pport and encourage entrepreneurship as a means of driving economic growth. The country ha
s seen an increase in the number of startups and small business ventures in recent years, fueled
by a growing interest in entrepreneurship and a supportive ecosystem for new businesses. The
government has implemented various initiatives to support entrepreneurship, such as the establ
ishment of business development centers, the provision of financing and technical assistance,
and the promotion of entrepreneurship education and training (Koehn, 2017).

Despite these efforts, challenges remain for entrepreneurs in Zambia, including access to finan
ce, regulatory hurdles, and limited market opportunities. The lack of access to finance is a sign
ificant barrier for many entrepreneurs, especially women who often face greater difficulty in o
btaining loans or investment capital. In addition, the regulatory environment can be complex a
nd burdensome, making it difficult for entrepreneurs to start and grow their businesses. Limite
d market opportunities also pose challenges for entrepreneurs in Zambia, as the economy rema
ins heavily reliant on traditional sectors such as mining and agriculture (Fafchamps & Quinn,
2016).

Women entrepreneurs in Zambia face additional challenges in starting and growing their busin
esses, including limited access to finance, social and cultural barriers, and lack of support net
works. Despite these challenges, women entrepreneurs are making significant strides in the co
untry, with many successfully running businesses in a variety of sectors, from agriculture to te

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chnology. Women entrepreneurs are increasingly recognized for their contributions to the econ
omy and their ability to drive innovation and create jobs (Dikova, 2017).

In recent years, the government and various organizations have launched initiatives to support
women entrepreneurs in Zambia, such as the provision of financing and technical assistance, t
he creation of business development centers, and the promotion of women entrepreneurship ed
ucation and training. These efforts have helped to increase the visibility and impact of women
entrepreneurs in the country, leading to greater economic empowerment and development (De
Vos, 2005).

1.3 Statement of the Problem

The performance of women-owned businesses was found to be low, especially in their initial
stages, due to several challenges such as lack of access to finance, gender discrimination,
cultural norms, and restrictions on women’s networking and access to markets. However, the
government had increased Constituency Development Funds (CDF), which partly catered to
women entrepreneurs through grants and loans. Women were encouraged to form cooperatives
and were trained on how to utilize the funds for business purposes. Despite the increasing
recognition of women's entrepreneurship as a catalyst for economic development, there
remained a lack of comprehensive understanding regarding the specific challenges and
opportunities faced by women-owned small businesses in Solwezi. This gap in understanding
was confirmed by a study conducted by the International Labour Organization (ILO, 2018),
which highlighted the multifaceted issues stemming from socio-economic disparities, cultural
norms, institutional barriers, and specific entrepreneurial hurdles that women entrepreneurs in
Solwezi encountered. These challenges included difficulties in accessing finance due to
limited collateral or discriminatory lending practices, cultural expectations restricting women's
networking and market access, and regulatory complexities alongside bureaucratic challenges
that affected women in business. Furthermore, the entrepreneurial landscape in Solwezi often
lacked adequate mentorship opportunities, tailored training programs, and access to modern
technologies, which were crucial for enhancing productivity and competitiveness. This
research identified factors influencing the performance of small women-owned businesses in
Solwezi and brought out the interventions necessary to create a more supportive environment
for women entrepreneurs in Zambia.

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1.4 Aim of the Study
The study aimed to investigate the factors that influenced the performance of women-owned
small businesses in Solwezi. The research focused on access to finance, business skills, market
access, and technology adoption. The findings revealed that access to finance was a significant
challenge for many women entrepreneurs, limiting their ability to expand and invest in their
businesses. Additionally, a lack of adequate business skills was identified as a barrier to
growth and sustainability. Market access was another crucial factor, with some businesses
struggling to reach broader customer bases beyond the local market. Lastly, technology
adoption varied among businesses, with those embracing digital tools experiencing greater
efficiency and competitiveness compared to those with limited technological integration.

1.5.0 Objectives of the Study

This research was guided by the following objectives.

1.5.1 General Objective

i. To investigate the factors influencing the performance of women-owned small
businesses in Solwezi, Zambia.

1.5.2 Specific Objectives

i. To determine the influence of access to finance on the performance of women owned
businesses

ii. To establish the impact of business skills and training on performance of women owned
businesses

iii. To examine the relationship between access to market and performance of women owned
businesses

iv. To investigate the effects on technology adoption on the performance of women owned
businesses.

1.6 Research Questions

Based on the research objectives, the following were research questions.

i. How does access to finance influence the performance of women-owned businesses in S

olwezi?

ii. What impact do business skills and training have on the performance of women-owned
businesses in Solwezi?

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 iii. What is the relationship between access to markets and the performance of women-own
ed businesses in Solwezi?

iv. How does technology adoption affect the performance of women-owned businesses in S
olwezi?

1.7 Significance of the Study

The study significantly contributed to both theory and practice by providing a comprehensive
understanding of the factors that influenced the performance of women-owned small business
es in Solwezi. The research enriched existing literature on women's entrepreneurship by elucid
ating specific socio-economic, cultural, institutional, and entrepreneurial challenges faced by
women entrepreneurs in a developing context.

On the ground, the study found that women entrepreneurs in Solwezi faced significant challen
ges in accessing finance, with limited availability of affordable credit and financial services tai
lored to their needs. Business skills and training were also identified as areas needing improve
ment, as many women lacked access to formal training programs and mentorship opportunitie
s. Market access posed another hurdle, with difficulties in reaching broader markets beyond lo
cal and regional levels. Additionally, technology adoption among women-owned businesses w
as relatively low, impacting their competitiveness and operational efficiency.

Practically, the findings offered actionable insights for policymakers, stakeholders, and suppor
t organizations. Recommendations included the need for targeted interventions to improve acc
ess to finance through microfinance schemes and financial literacy programs. Enhancing busin
ess skills and training opportunities, especially focusing on digital literacy and marketing strat
egies, was also emphasized. Creating platforms for improved market access, such as trade fair
s and networking events, was suggested to help women entrepreneurs expand their customer b
ase. Furthermore, initiatives to promote technology adoption, such as providing access to affor
dable ICT tools and training on their usage, were recommended to boost competitiveness and i
nnovation among women-owned businesses in Solwezi.

1.8 Delimitation of the Study

The study focused on women-owned small businesses in Solwezi, Zambia, examining the fact
ors that influenced their performance. The delimitation of the study included specifically targe
ting women-owned businesses in Solwezi, rather than small businesses owned by men or other
demographic groups. Additionally, the study examined a range of factors influencing performa

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nce, such as access to capital, government policies, market conditions, and entrepreneurial skil
ls, rather than focusing on a single factor. This approach provided a comprehensive understand
ing of the unique challenges and opportunities faced by women-owned businesses in Solwezi,
contributing valuable insights to the existing literature on small business performance.

1.9 Limitation of the Study

The study focused on understanding the factors that influence the performance of women-own
ed businesses in Solwezi, Zambia. It revealed significant challenges faced by women entrepre
neurs, including limited access to financing, a lack of robust business networks, and societal n
orms that discourage female entrepreneurship. These challenges notably impacted the perform
ance of women-owned businesses in Solwezi. The study identified these factors and provided
recommendations to support their success. However, certain limitations were encountered. Th
e small sample size of women-owned businesses in Solwezi limited the generalizability of fin
dings to Zambia's wider population of women entrepreneurs. Additionally, constraints in data
availability and resources affected the depth and scope of the analysis. Biases and subjectivity
in data collection and analysis could have influenced the research outcomes and conclusions.
Nonetheless, the study offered valuable insights into the performance determinants of women-
owned businesses in Solwezi, contributing to future research and policy considerations in this
domain.

1.10 Operational definition of terms

The following were the operational definition of key terms
Factors: In the context of this study, factors refer to various elements or variables that have an
impact on the performance, success, or challenges faced by women-owned businesses in Solw
ezi (Carree, 2002).

Access to Finance: Access to finance refers to the availability and ability of women-owned b
usinesses to obtain financial resources needed for starting, maintaining, and expanding their o
perations (Whalen, 2016).

Business Skills and Training: Business skills and training encompass the knowledge, compet
encies, and practical abilities that women entrepreneurs need to effectively run and grow their
businesses (Minniti, 2001).

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Access to Market: Access to market refers to the ability of women-owned businesses to reach
and engage potential customers and clients. This includes having the necessary information, re
sources, and networks to effectively market their products or services (Brush, 2002).

Technology Adoption: Technology adoption involves the integration and use of modern techn
ologies in business operations to enhance productivity, efficiency, and competitiveness. This in
cludes the use of digital tools, software, and platforms for activities such as online marketing,
e-commerce, financial management, and communication (Verheul, 2005).

1.11 Assumptions of the Study

The study assumes that participants will offer transparent and truthful insights into their busin
esses and experiences as women entrepreneurs in Solwezi. It relies on the integrity and sinceri
ty of participants in sharing their perspectives, challenges, and successes.

1.12 Organization of the Study

This study is organized into five chapters: Introduction, Literature Review, and Research Meth
odology, data analysis and the conclusion and recommendations at the end. Each chapter will
delve deeper into specific aspects related to the factors influencing the performance of wome
n-owned businesses in Solwezi.

1.13 Summary of the Chapter

In this chapter, the focus was on women-owned small businesses in Solwezi, Zambia, highligh
ting their vital role in economic growth. Despite their significance, these businesses faced chal
lenges like limited access to finance, societal norms, and inadequate infrastructure. The study
aimed to identify factors influencing their performance, analyze challenges, examine external i
mpacts, and explore improvement strategies. Research questions delved into internal and exter
nal factors, government policies, market dynamics, and growth strategies. The significance lay
in empowering women entrepreneurs and contributing to economic development. Delimitation
s included focusing solely on women-owned businesses in Solwezi. Limitations arose from th
e sample size, data availability, and potential biases. Operational definitions clarified terms lik
e factors, performance, small businesses, case study, and women-owned businesses.

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 CHAPTER TWO: LITERATURE REVIEW

2.0 Overview
The performance of small businesses was influenced by a multitude of factors, and understand
ing these factors was crucial for the success of entrepreneurial work. Small businesses were re
cognized as a critical component of the global economy, providing employment opportunities
and contributing to economic growth in various regions. However, these businesses were often
faced with numerous challenges that impacted their performance. In Africa, small businesses f
aced unique challenges such as limited access to financing, inadequate infrastructure, and regu
latory hurdles. In Zambia, the small business sector was dominated by women-owned business
es, who faced additional obstacles such as gender discrimination and limited access to resourc
es. In the case of women-owned businesses in Solwezi, it was important to delve deeper into t
he unique challenges and opportunities that these entrepreneurs faced. This literature review e
xplored the various factors that impacted the performance of women-owned businesses, shedd
ing light on the specific barriers and motivators that shaped their success. Through a review of
the literature, the researcher brought out the theoretical framework, conceptual framework, ide
ntified gaps in existing research, and provided a basis for the proposed study.

2.1 Zambian perspective of the Owned-Business

In Zambia like in many other developing countries in the world, small business of women are
perceived to be economic drivers as they reliably create employment providing opportunities f
or low-income poor people. The sector is estimated to account for 97 percent of all businesses
in Zambia; although 9 out of 10 are said to operate in the informal sector. Inevitably both form
al and informal small business in Zambia contribute to the GDP by creating opportunities for f
uture growth and an innovative diversified economy (Mandawa, 2016). Of the 8.1 million adul
ts in Zambia, 1.2 million operate a business accounting for a good portion of their income. In t
his growth pathway, small business of still face challenges and some of these challenges inclu
de unanticipated financial mismatches between their income and expenses (Mumba, 2014).

In recent years, there has been a growing trend of women-owned businesses in Zambia, contri
buting to job creation, poverty reduction, and overall economic empowerment of women. For
example, in Soweto market, the majority of people are the small business especially women.
However, the success and performance of these businesses are influenced by various factors
(Phillip, 2019). One of the factors that influence the performance of women-owned businesses
in Zambia is access to finance. According to Richardson, Howarth & Finnegan (2004), women

8
entrepreneurs in Zambia face challenges in accessing financing due to limited collateral, high-
interest rates, and strict lending criteria. This can hinder the growth and expansion of their bus
inesses, limiting their profitability and sustainability. For example, a study by Kuegah (2018) f
ound that 70% of women-owned businesses in Zambia have difficulty accessing loans from fi
nancial institutions, which hampers their ability to invest in their businesses.

Another factor that influences the performance of women-owned businesses in Zambia is lack
of business skills and knowledge. Many women entrepreneurs lack formal education and traini
ng in business management, marketing, and financial management, which hinder the growth a
nd success of their businesses (Makasa & Hapompwe, 2023). Furthermore, market access and
competition are critical factors that influence the performance of women-owned businesses in
Zambia. Women entrepreneurs often face challenges in accessing new markets, securing contr
acts, and competing with larger businesses. The removal of street vending in cities and towns
possesses more challenge for women especially to access market place. In Lusaka for example,
women-owned businesses face stiff competition from male-dominated industries which limit t
heir market share and profitability (Muchoka, 2020).

In addition, regulatory and policy constraints also impact the performance of women-owned b
usinesses in Zambia. Women entrepreneurs often face bureaucratic hurdles, red tape and corru
ption when trying to register their businesses, obtain licenses and comply with regulations. Thi
s increases the cost of doing business and create barriers to entry for women-owned businesses.
According to Mulenga & Haabazoka, 2024), women entrepreneurs in Zambia are often unawa
re of the regulatory environment and lack the resources to navigate complex legal requirement
s. This lead to fines, penalties, and legal challenges that impact the performance of their busin
esses.

Moreover, access to technology and infrastructure is another critical factor that influences the
performance of women-owned businesses in Zambia. Women entrepreneurs often lack access
to reliable internet, electricity, and transportation, which can hinder their ability to reach custo
mers, communicate with suppliers, and conduct business operations. According to Mandawa
(2016), women-owned businesses in rural areas of Zambia face challenges in accessing techno
logy and infrastructure, which limits their ability to compete with businesses in urban areas. A
dditionally, social and cultural norms can impact the performance of women-owned businesse
s in Zambia. Women entrepreneurs often face discrimination, stereotypes, and gender biases in
the business community, which can limit their access to networks, resources, and opportunities.
According to Richardson, Howarth & Finnegan, (2004), women-owned businesses in Zambia

9
often struggle to gain credibility and trust from investors, customers, and suppliers due to gend
er-based barriers. This can affect their ability to secure partnerships, contracts, and funding, ult
imately affecting the performance of their businesses.

Furthermore, access to networks and support systems is essential for the performance of wome
n-owned businesses in Zambia. Women entrepreneurs often lack access to mentorship, trainin
g, and peer support, which can hinder their growth and development. According to Muhamad,
Ahmad and Ismail (2017), women-owned businesses in Zambia benefit from networking even
ts, business associations, and support groups that provide guidance, resources, and connection
s. Moreover, government policies and initiatives can also influence the performance of wome
n-owned businesses in Zambia. The government plays a crucial role in creating an enabling en
vironment for women entrepreneurs through policies, programs, and incentives. According to
Makasa & Hapompwe (2023), the Zambian government has implemented initiatives such as th
e Youth Empowerment Fund and the National Women's Trust Fund to support women-owned
businesses. This has helped to increase access to finance, training, and markets for women ent
repreneurs. For example, a study by Tukuta (2017) found that women-owned businesses in Za
mbia have benefited from government grants and subsidies to expand their businesses.

Additionally, access to markets and export opportunities can significantly impact the performa
nce of women-owned businesses in Zambia. Women entrepreneurs often struggle to access int
ernational markets, secure contracts, and comply with trade regulations, which can limit their
growth and profitability. According to Mumba (2014), women-owned businesses in Zambia fa
ce challenges in exporting their products and services due to lack of information, resources, an
d expertise. This can hinder their ability to expand beyond domestic markets and compete on a
global scale.

Furthermore, innovation and technology adoption are critical factors that influence the perfor
mance of women-owned businesses in Zambia. Women entrepreneurs often lack access to inn
ovative technologies, tools, and resources that can enhance their products, services, and operat
ions. According to Namakando (2019), women-owned businesses in Zambia struggle to embra
ce digital transformation, automation, and data analytics, which can limit their competitivenes
s and efficiency. Moreover, access to mentorship and role models can significantly impact the
performance of women-owned businesses in Zambia. Women entrepreneurs often lack guidan
ce, advice, and support from experienced mentors and successful business leaders, which can
hinder their growth and development. According to Mulenga & Haabazoka (2024), women-o
wned businesses in Zambia benefit from mentorship programs, coaching sessions, and networ

10
king opportunities that provide valuable insights and connections. Additionally, access to train
ing and capacity building is essential for the performance of women-owned businesses in Zam
bia. Women entrepreneurs often lack skills, knowledge, and expertise in key areas of business
management, marketing, and finance. According to Muchoka (2020), women-owned business
es in Zambia benefit from training workshops, seminars, and online courses that enhance their
capabilities and competencies.

Furthermore, access to information and market intelligence is crucial for the performance of w
omen-owned businesses in Zambia. Women entrepreneurs often lack data, research, and insigh
ts on market trends, consumer preferences, and industry dynamics, which can hinder their deci
sion-making and strategic planning. According to Mumba (2014), women-owned businesses i
n Zambia benefit from access to market reports, industry analysis, and competitor information
that inform their business strategies. Moreover, resilience and adaptability are critical factors t
hat influence the performance of women-owned businesses in Zambia. Women entrepreneurs
often face challenges, setbacks, and uncertainties in running their businesses, which require th
em to be resilient, flexible, and creative. According to Maina (2015), women-owned businesse
s in Zambia benefit from a strong sense of determination, perseverance, and resourcefulness in
overcoming obstacles and seizing opportunities.

Additionally, access to support services and resources is essential for the performance of wom
en-owned businesses in Zambia. Women entrepreneurs often lack access to business developm
ent services, financial assistance, and other resources that can help them succeed. According to
Phillip (2019), women-owned businesses in Zambia benefit from support organizations, such
as business development centers, microfinance institutions, and women's associations that pro
vide guidance and assistance. Additionally, leadership and decision-making skills are critical f
actors that influence the performance of women-owned businesses in Zambia. Women entrepr
eneurs often face challenges in leading their businesses, making strategic decisions, and mana
ging their teams effectively. According to Mulenga & Haabazoka (2024), women-owned busin
esses in Zambia benefit from developing strong leadership skills, communication, and emotio
nal intelligence that inspire and motivate their employees. For example, a study by Mwanawas
a (2019) found that women entrepreneurs who have effective leadership qualities are more lik
ely to build cohesive teams and drive business growth.

11
2.2 The Entrepreneurship in Zambia
Entrepreneurship in Zambia has seen significant growth and development in recent years,
driven by a combination of factors such as government policies, a growing economy, and
increased access to education and technology. One of the key drivers of entrepreneurship in
Zambia is the government's efforts to create a conducive environment for small and medium
enterprises (SMEs) to thrive. The Zambian government has implemented various policies and
initiatives aimed at supporting entrepreneurship, such as the implementation of tax incentives
for SMEs, the establishment of entrepreneurial training programs, and the provision of
financial support through initiatives like the Citizens Economic Empowerment Commission
(CEEC). These measures have helped to create a more favorable environment for
entrepreneurship in the country, enabling aspiring entrepreneurs to start and grow their
businesses (African Development Bank Group, 2019).

Another factor contributing to the growth of entrepreneurship in Zambia is the country's

growing economy. Zambia has experienced steady economic growth in recent years, driven by
sectors such as mining, agriculture, and tourism. This has created opportunities for
entrepreneurs to tap into emerging markets and meet the growing demand for goods and
services. For example, the agricultural sector in Zambia presents significant opportunities for
entrepreneurship, with many farmers turning to agribusiness to diversify their income streams
and increase their productivity (Whalen, 2016).

In addition to government support and economic growth, the increasing access to education
and technology has also played a crucial role in fostering entrepreneurship in Zambia. The rise
of entrepreneurship is attributed to the increased number of educated young people venturing
into entrepreneurship. With the advent of the internet and social media, entrepreneurs in
Zambia are now able to reach a wider audience and market their products and services more
effectively. This has helped to level the playing field for small businesses, allowing them to
compete with larger corporations and expand their reach beyond traditional brick-and-mortar
stores (Global Entrepreneurship Monitor, 2020).

Despite the progress made in fostering entrepreneurship in Zambia, there are still several
challenges that entrepreneurs in the country face. One of the main challenges is access to
finance, with many entrepreneurs struggling to secure funding to start or expand their
businesses. The lack of collateral and high interest rates from banks make it difficult for
entrepreneurs to access the capital they need to grow their businesses. This has led to a rise in
alternative financing options such as peer-to-peer lending and crowdfunding, but more needs

12
to be done to address the financing gap for SMEs in Zambia (African Development Bank
Group, 2019).

Another challenge for entrepreneurs in Zambia is the lack of adequate infrastructure, such as
roads, electricity, and internet connectivity. Poor infrastructure hinders the growth of
businesses, making it difficult for entrepreneurs to transport goods, access markets, or connect
with customers online. Improving infrastructure is essential to unlocking the full potential of
entrepreneurship in Zambia and driving economic growth in the country (Global
Entrepreneurship Monitor, 2020).

Additionally, the regulatory environment in Zambia can be complex and cumbersome, with
many entrepreneurs facing bureaucratic red tape and delays in getting the necessary licenses
and permits to operate their businesses. Streamlining the regulatory framework and reducing
administrative burdens for SMEs can help to encourage more people to start businesses and
contribute to economic development in Zambia (Whalen, 2016).

Even though there are challenges, there are several success stories of entrepreneurship in
Zambia that serve as inspiration for aspiring entrepreneurs. One such example is Mama
Ventures, a company that produces and sells organic beauty products made from locally
sourced ingredients. Founded by a young female entrepreneur, Mama Ventures has tapped into
the growing demand for natural and sustainable products, attracting a loyal customer base both
locally and internationally (Global Entrepreneurship Monitor, 2020).

Another successful entrepreneur in Zambia is Bright Mwape, founder of BongoHive, the

country's first tech and innovation hub. Bongo-Hive provides support and resources for tech
startups and entrepreneurs, helping them to develop their ideas and access funding and
mentorship. The hub has helped to grow the tech ecosystem in Zambia and put the country on
the map as a hub for innovation and entrepreneurship in Africa (African Development Bank
Group, 2019).

Women are the world's largest reservoir of available talent. However, the full use of this reserv
oir remains controversial. In small businesses and entrepreneurship, women's empowerment is
essential to promote gender equality and economic development. Women-owned businesses n
ot only create jobs and drive economic growth, they also have a significant impact on local co
mmunities (Whalen, 2016). In addition, women can become powerful agents of change by con
tributing to a more inclusive and just society when they are given equal opportunities and reso
urces to start and grow their businesses (Carree, 2002).

13
Women have historically been underrepresented in business, but their numbers increased over
the years. According to the Global Entrepreneurship Monitor, women entrepreneurs make up a
bout 42 percent of all entrepreneurs worldwide. Women entrepreneurs play a key role in econo
mic development and contribute to job creation, innovation and social change. Despite the pro
gress made, women entrepreneurs still face significant challenges (Mer & Virdi, 2024).

Despite progress, the global gender gap still exists. It could take 132 years to close the gap, wh
ich has shrunk by 68 percent. These data show that organizations must address gender discrimi
nation and actively encourage women's leadership and decision-making. We can only achieve
a fair and just society by working together. To make matters worse, in 18 countries, husbands
have the legal right to prevent their wives from working abroad. Home. However, closing the
global gender gap could have significant economic benefits, potentially adding $12 trillion to t
he global economy as women begin to reach their full potential in the workforce (Coyne, 201
6).

Women's entrepreneurship is encouraging, but it is important to note that men still outnumber
than women 3:1 when it comes to corporate ownership. Continuing to address these gaps and
challenges at all levels of society is essential to creating true equality and equity for women. T
his is how we can create a fairer and more prosperous world for all (Verheul, 2005).

2.3 Theoretical Framework

Small businesses play a vital role in the economic development of any country. In Zambia, sm
all businesses make up a significant portion of the economy, contributing to job creation and p
overty reduction. Two theories that will be used in this research are the Resource-Based View
(RBV) theory and the social capital theory.

2.3.1 Resource-Based View (RBV) theory

Resource-Based Theory (RBT) was first proposed by Penrose (2009) as a model for effective r
esource management, diversification strategy, and productive opportunities within firms. It co
nceptualizes a firm as a coordinated bundle of resources and addresses how firms can achieve
their goals and strategic behaviour. RBT emerged as a dominant paradigm in strategic manage
ment, focusing on internal organization resources rather than external industry structures.

RBT emphasizes the heterogeneity of firm resources, assuming that firms possess unique reso
urces and capabilities that can lead to sustained competitive advantage (Barney, 1991). The the

14
ory highlights two key assumptions: resource heterogeneity, which suggests that firms possess
different bundles of resources, and resource immobility, which implies that trading resources a
cross firms may not be easy and can create persistence in resource differences.

Resources in RBT encompass a wide range of assets, capabilities, knowledge, and attributes c
ontrolled by a company to implement strategies effectively (Barney, 1991). These resources ca
n be categorized into physical capital, human capital, and organizational capital resources, eac
h playing a role in enhancing a firm's efficiency and effectiveness. The Resource-Based View
(RBV) theory, as explsined by Barney (1991), posits that a firm's performance is determined b
y its unique resources and capabilities, serving as a source of competitive advantage. In the co
ntext of women-owned businesses in Solwezi, RBV can provide insights into how resources s
uch as access to finance, education, and networks influence their business performance.

Application of the Theory

The Resource-Based View (RBV) theory will be applied to understand the factors influencing
the performance of small businesses owned by women in Solwezi by focusing on the unique r
esources and capabilities that women entrepreneurs possess. Firstly, RBV emphasizes the imp
ortance of valuable and rare resources as sources of competitive advantage. In the context of w
omen-owned businesses in Solwezi, this could involve examining the access to finance, netwo
rks, and support systems that women entrepreneurs have. For instance, if women-owned busin
esses have better access to financial resources or are part of strong business networks, they ma
y leverage these resources to innovate, expand their market reach, and enhance their overall pe
rformance compared to businesses with limited access to such resources.

Secondly, RBV highlights the role of organizational capabilities and how they contribute to su
stained competitive advantage. In the case of women-owned businesses in Solwezi, this could
include assessing the business skills, leadership qualities, and strategic capabilities of women
entrepreneurs. For example, if women entrepreneurs demonstrate strong leadership skills, effe
ctive decision-making, and the ability

to adapt to market changes, their businesses are likely to perform better and achieve long-term
success. By applying RBV, researchers can analyze how the unique resources and capabilities
of women entrepreneurs in Solwezi contribute to their business performance and competitive a
dvantage in the local market.

15
2.3.2 The Social Capital Theory
The social capital theory, on the other hand, emphasizes the importance of social relationships
and networks in business success (Burt, 1992). Social capital refers to the networks and social
norms that enable collective action within a community or group. Building networks is crucial
for accumulating social capital, as it fosters social interactions and ties among individuals. Str
ong network ties, typically formed between people with similar backgrounds, are known to re
duce conflict, while loose ties between individuals from diverse backgrounds facilitate innovat
ion, particularly in new product development. Consequently, social capital contributes to the e
nhancement of business networks, which in turn promotes overall business performance. Besi
des strengthening personal and business networks, social capital also enhances trust and prom
otes norms of reciprocity and reputation. Higher social capital among founders leads to increas
ed trust from stakeholders such as auditors, lenders, and investors, fostering a more trustworth
y and trusting environment.

Individuals with greater social capital tend to be perceived as more trustworthy and exhibit hig
her levels of trust towards others. This trust extends to financial markets, where increased trust
encourages greater participation, higher investments, reliance on checks, and improved access
to institutional credit. Regions characterized by high social capital also experience lower crim
e rates, indicating a higher level of honesty and adherence to the law among individuals. Addit
ionally, these regions tend to be more innovative, suggesting that trust among diverse groups p
romotes innovation.

Application of the theory.

Women-owned businesses in Solwezi may benefit from strong social ties within their commun
ities, which can provide access to customers, suppliers, and other resources. By examining the
social capital of women entrepreneurs in Solwezi, we can gain insights into how their social n
etworks impact the performance of their businesses. The social capital theory will help to exa
mine the networks and relationships that women entrepreneurs in Solwezi rely on to grow thei
r businesses. For instance, women entrepreneurs may benefit from strong ties to other business
owners, government officials, or community leaders, which can provide them with valuable in
formation, resources, and opportunities. By investigating the social capital of women entrepre
neurs in Solwezi, we can uncover the ways in which their social networks influence the perfor
mance of their businesses.

16
2.4 Factors Influencing Performance of Women-Owned Businesses
Women-owned businesses play a crucial role in economic development, contributing significa
ntly to job creation and innovation. Despite their potential, these enterprises often face unique
challenges that impact their performance. Factors such as access to finance, business skills and
training, market access, and technology adoption are critical determinants of success

Access to Finance:

Access to finance is a critical factor that determine the success or failure of a small business.
Women-owned businesses often face challenges in accessing capital due to various reasons su
ch as lack of collateral, limited financial literacy, and gender bias. Without adequate funding, t
hese businesses may struggle to grow and expand, hindering their overall performance. Financ
e is essential for various aspects of business operations, including purchasing inventory, invest
ing in technology, hiring skilled employees, and expanding marketing efforts. Without access t
o finance, women-owned businesses may not have the resources to compete in the market and
take advantage of growth opportunities (Chuma, 2024).

Women-owned businesses in Solwezi face several challenges in accessing finance, including li

mited access to formal financial institutions, high interest rates, stringent lending criteria, and l
ack of financial literacy. These challenges can hinder the growth and sustainability of these bu
sinesses, leading to limited profitability and competitiveness. The government of Zambia has i
mplemented various initiatives to support small businesses, including women-owned enterpris
es. These initiatives aim to improve access to finance through the provision of grants, loans, a
nd financial literacy programs. However, more efforts are needed to address the specific challe
nges faced by women-owned businesses in Solwezi (Akpuokwe, Chikwe & Eneh, 2024).

Financial institutions play a crucial role in supporting small businesses by providing access to
various financial products and services. However, many women-owned businesses in Solwezi
struggle to access formal financial institutions due to lack of collateral and credit history. Fina
ncial institutions need to develop tailored financial products to meet the needs of women entre
preneurs. Financial literacy is essential for the success of small businesses, as it helps entrepre
neurs understand financial statements, manage cash flow, and make informed investment decis
ions. Women-owned businesses in Solwezi may benefit from training programs that enhance t
heir financial literacy skills and empower them to access finance more effectively(Mer & Vird
i, 2024).

17
Access to finance can have a significant impact on the performance of women-owned business
es in Solwezi. With adequate funding, these businesses can invest in growth opportunities, exp
and their operations, and create employment opportunities. Improved access to finance can als
o lead to increased profitability and competitiveness in the market (Mer & Virdi, 2024).

Stakeholders, including government agencies, financial institutions, and business support orga
nizations, can collaborate to improve access to finance for women-owned businesses in Solwe
zi. By working together, these stakeholders can develop targeted interventions that address the
specific challenges faced by women entrepreneurs and create a supportive ecosystem for small
business growth (Chuma, 2024).

Business Skills and Training

Business skills and training is another key factor that influences the performance of these smal
l businesses is the level of business skills and training that the women entrepreneurs possess.
Without adequate training and skills development, women may struggle to navigate the compl
exities of running a business effectively, leading to subpar performance and potential failure
(Akpuokwe, Chikwe & Eneh, 2024).

Business skills encompass a wide range of competencies, including financial management, ma

rketing, human resource management, and strategic planning. Women entrepreneurs in Solwez
i may lack access to formal education or training programs that can equip them with these esse
ntial skills. As a result, they may find themselves ill-equipped to make informed decisions abo
ut their business operations, leading to inefficiencies and missed opportunities for growth (Ak
puokwe, Chikwe & Eneh, 2024).

Training programs tailored specifically for women owned businesses in Solwezi can play a cru
cial role in improving their performance. These programs can provide women entrepreneurs w
ith the knowledge and tools they need to effectively manage their businesses and make strategi
c decisions for long-term success. By investing in business skills training, women can enhance
their ability to compete in the market and navigate the challenges of entrepreneurship with con
fidence (Akpuokwe, Chikwe & Eneh, 2024).

Access to Market

Access to markets is a critical factor that can greatly impact the success of a small business.
For women-owned businesses in particular, the ability to reach potential customers can be a
significant challenge. In Solwezi, where the economy is largely driven by mining and

18
agriculture, women entrepreneurs may face additional barriers in accessing markets due to
gender discrimination and limited resources (Mer & Virdi, 2024).

The key ways in which access to markets can be improved for women-owned businesses in
Solwezi is through networking and partnerships. By collaborating with other businesses or
organizations, women entrepreneurs can tap into existing market channels and reach a wider
customer base. Building strong relationships with suppliers, distributors, and potential
customers can also help to create new opportunities for growth and expansion (Ekechi et al., 2
024).

In addition to networking, investing in marketing and promoting their businesses can help
women entrepreneurs in Solwezi to increase their visibility and attract more customers. By
utilizing social media, attending trade fairs, and participating in community events, women-
owned businesses can raise awareness about their products and services and differentiate
themselves from competitors (Mer & Virdi, 2024). Furthermore, government support and
policies that promote gender equality and women's economic empowerment can play a crucial
role in improving access to markets for women-owned businesses in Solwezi. By providing
training, financial assistance, and access to new markets, the government can help women
entrepreneurs to overcome the barriers they face and thrive in the business environment (Akpu
okwe, Chikwe & Eneh, 2024).

Technology Adoption

Technology adoption refers to the process by which businesses incorporate new technologies i
nto their operations in order to improve efficiency, productivity, and overall performance. Tec
hnology adoption has an influence in women-owned businesses in Solwezi is access to new te
chnologies. Many small businesses in developing countries struggle to access the latest techno
logies due to high costs, limited infrastructure, and lack of information. Women-owned busine
sses in Solwezi face similar challenges, which can hinder their ability to adopt and integrate te
chnology into their operations. Without access to modern technologies, these businesses may s
truggle to remain competitive in the market (Chuma, 2024).

Another factor that influences technology adoption in women-owned businesses in Solwezi is

the level of technological literacy among business owners and employees. Many women entre
preneurs in developing countries may not have the technical skills or knowledge to effectively
implement and utilize new technologies. This lack of technological literacy can be a barrier to
technology adoption, as it may prevent businesses from fully realizing the benefits of modern t

19
echnologies. Investing in training and development programs can help bridge this gap and em
power women entrepreneurs to leverage technology for business growth (Ekechi et al., 2024).

Additionally, the availability of technical support and maintenance services can impact technol
ogy adoption in women-owned businesses in Solwezi. Without adequate support systems in pl
ace, businesses may struggle to troubleshoot technical issues, maintain their equipment, and m
aximize the potential of new technologies. By strengthening the technology ecosystem in Sol
wezi and providing businesses with the necessary resources and support, women entrepreneurs
can overcome barriers to technology adoption and drive business performance (Akpuokwe, Ch
ikwe & Eneh, 2024).

Moreover, the regulatory environment and government policies also play a significant role in s
haping technology adoption in women-owned businesses in Solwezi. A conducive regulatory f
ramework that promotes innovation, protects intellectual property rights, and encourages inves
tment in technology infrastructure can incentivize businesses to adopt new technologies. On th
e other hand, restrictive regulations, high import tariffs on technology products, and lack of go
vernment support can impede technology adoption and hinder the growth of women-owned bu
sinesses in Solwezi (Akpuokwe, Chikwe & Eneh, 2024).

2.4 Empirical Review

Small businesses are a critical component of the global economy, providing employment oppo
rtunities and contributing to economic growth in various regions. However, these businesses a
re often faced with numerous challenges that can impact their performance. In Africa, small bu
sinesses face unique challenges such as limited access to financing, inadequate infrastructure,
and regulatory hurdles. In Zambia, the small business sector is dominated by women-owned b
usinesses, who face additional obstacles such as gender discrimination and limited access to re
sources. In this empirical review, the researcher focused on the factors influencing the perform
ance of women-owned businesses globally, Africa and in Zambia. By examining the global, Af
rican, and Zambian contexts, the researcher aimed to gain a better understanding of the challen
ges facing small businesses in this region and identify potential strategies to support their gro
wth and success.

2.4.1 Global Perspective

Women-owned businesses have become a significant contributor to the global economy, playi
ng a crucial role in job creation and economic growth. However, these businesses face various
challenges that influence their performance. The economic environment of a country has a sig

20
nificant impact on the performance of small businesses owned by women. According to a stud
y by Brush et al. (2018), women entrepreneurs in developing countries face challenges due to l
imited access to capital, markets, and resources. For example, in India, women-owned busines
ses struggle to secure funding and face barriers to market entry due to cultural norms that prior
itize male entrepreneurs.

The regulatory environment in which women-owned businesses operate can also influence the
ir performance. A study by Muhamad et al. (2017) found that in Malaysia, women entrepreneu
rs face bureaucratic hurdles when starting and running their businesses, such as complex licen
sing requirements and red tape. These regulatory barriers can hinder the growth and profitabili
ty of women-owned businesses in the country. Access to finance is a critical factor that impact
s the performance of women-owned businesses. In countries such as Brazil, women entreprene
urs face challenges in securing loans and investment capital due to gender bias in the financial
sector. According to a study by Alves et al. (2019), women-owned businesses in Brazil have li
mited access to credit and higher interest rates compared to male-owned businesses, which ne
gatively affects their growth and profitability.

Socio-cultural factors such as gender norms and stereotypes can also influence the performanc
e of women-owned businesses. In Japan, for example, women entrepreneurs face discriminatio
n and lack of support from society due to traditional gender roles. According to a study by Roy
ama et al. (2016), Japanese women-owned businesses struggle to gain credibility and trust fro
m customers and investors, which hinders their success in the market. The level of education a
nd skills of women entrepreneurs can impact the performance of their businesses. In countries
like South Africa, women-owned businesses benefit from government initiatives that provide t
raining and development programs for female entrepreneurs. According to a study by Nkomo
et al. (2018), women entrepreneurs in South Africa who have access to education and skills de
velopment are more likely to succeed and grow their businesses.

Networking and support from peers, mentors, and industry associations can play a crucial role
in the success of women-owned businesses. In countries like the United States, women entrepr
eneurs benefit from networking events, workshops, and support groups that provide access to r
esources and opportunities. According to a study by Greene et al. (2017), women-owned busin
esses in the US who are part of supportive networks are more likely to thrive and overcome th
e challenges they face.

21
The adoption of technology and innovation can drive the performance of women-owned busin
esses in the global economy. In countries like China, women entrepreneurs are leveraging e-co
mmerce platforms and digital marketing to reach a wider audience and grow their businesses.
According to a study by Huang et al. (2020), Chinese women-owned businesses that embrace t
echnology and innovation are able to compete in the market and adapt to changing consumer p
references.

Balancing family responsibilities with running a business can be a challenge for women entrep
reneurs. In countries like Nigeria, women-owned businesses often struggle to manage their fa
mily obligations while growing their enterprises. According to a study by Adesola et al. (2019)
Nigerian women entrepreneurs face challenges in accessing childcare and support services, w
hich can impact their productivity and performance in the business.

Mentorship and coaching programs have a positive impact on the performance of women-own
ed businesses in different countries. In Australia, for example, women entrepreneurs benefit fr
om mentorship programs that provide guidance and advice from experienced business leaders.
According to a study by Wilson et al. (2017), Australian women-owned businesses that partici
pate in mentoring and coaching programs are more likely to succeed and sustain their growth i
n the market.

The level of market competition can influence the performance of women-owned businesses i
n various countries. In countries like the UK, women entrepreneurs face intense competition fr
om larger corporations and male-owned businesses in the market. According to a study by Jon
es et al. (2018), UK women-owned businesses struggle to compete with established players an
d face challenges in gaining market share and visibility, which can affect their performance an
d sustainability. Government policies and programs can have a significant impact on the perfor
mance of women-owned businesses in different countries. In countries like Sweden, women e
ntrepreneurs benefit from gender equality policies and initiatives that promote women’s partici
pation in the economy. According to a study by Lundqvist et al. (2019), Swedish women-owne
d businesses have access to government support programs and funding opportunities that help
them grow and expand their enterprises.

The emphasis on environmental sustainability and social responsibility can influence the perfo
rmance of women-owned businesses in the global market. In countries like Germany, women
entrepreneurs are focusing on sustainable practices and eco-friendly products to meet the dem
ands of environmentally conscious consumers. According to a study by Schneider et al. (2020),

22
German women-owned businesses that prioritize environmental sustainability are able to attra
ct a loyal customer base and differentiate themselves in the market.

2.4.2 African Perspective

Small businesses owned by women in Africa face numerous challenges that can significantly i
mpact their overall performance. These challenges can vary depending on the country in whic
h the business operates, but there are some common factors that tend to influence the performa
nce of women-owned businesses across the continent. One of the factors that influence the per
formance of women-owned businesses in Africa is access to capital. According to Kibuthu and
Njonjo (2016), women often face greater challenges in accessing capital compared to their mal
e counterparts, which can hinder their ability to grow and expand their businesses. This is espe
cially true in countries like Nigeria, where women entrepreneurs often struggle to secure loans
from financial institutions due to discriminatory lending practices.

Another factor that can impact the performance of women-owned businesses in Africa is acces
s to markets. In countries like South Africa, women-owned businesses may face barriers when
trying to access larger markets due to lack of networks and connections (Chiweshe, 2018). Wit
hout access to these markets, women entrepreneurs may struggle to reach a wider customer ba
se and grow their businesses. In addition to access to capital and markets, the regulatory envir
onment in which women-owned businesses operate can also have a significant impact on their
performance. In countries like Kenya, for example, restrictive regulations can hinder the growt
h and success of women-owned businesses (Gichure, 2020). This can include burdensome lice
nsing requirements, high taxes, and complex bureaucracy that can make it difficult for women
entrepreneurs to navigate.

Furthermore, cultural norms and societal expectations can also play a role in influencing the p
erformance of women-owned businesses in Africa. In countries like Ghana, for instance, wom
en may face discrimination and bias in business dealings, which can hinder their ability to suc
ceed (Awaworyi Churchill, 2016). This can include challenges such as lack of support from fa
mily members, cultural beliefs that women should not be in business, and gender-based stereot
ypes.

Education and skills development are also key factors that impact the performance of women-
owned businesses in Africa. Research has shown that women who are more educated and have
access to training and skills development opportunities are more likely to succeed as entrepren
eurs (Fatoki & Luiz, 2015). In countries like Rwanda, where the government has invested in p

23
rograms to support women's education and skills development, women entrepreneurs are more
likely to thrive. Access to information and technology is another factor that can influence the p
erformance of women-owned businesses in Africa. In countries like Uganda, for example, wo
men entrepreneurs face challenges in accessing the internet and technology tools that help the
m grow their businesses (Nawinda & Isabalijja, 2021). Without access to these resources, wo
men entrepreneurs may struggle to compete in the digital economy and reach a wider custome
r base.

Networking and mentorship opportunities also have a significant impact on the performance o
f women-owned businesses in Africa. Research has shown that women who have access to str
ong networks and mentorship are more likely to succeed as entrepreneurs (Mbele & Ndinguri,
2017). In countries like Tanzania, where women entrepreneurs have limited access to networki
ng and mentorship opportunities, they may struggle to overcome challenges and grow their bu
sinesses. Government policies and support programs can also play a role in influencing the per
formance of women-owned businesses in Africa. In countries like Ethiopia, for example, the g
overnment has implemented policies and programs to support women entrepreneurs, such as p
roviding access to finance and training (Assefa & Negasa, 2019). These programs can help wo
men-owned businesses overcome barriers and succeed in competitive markets.

Infrastructure and access to basic services are also important factors that can impact the perfor
mance of women-owned businesses in Africa. In countries like Nigeria, for instance, women e
ntrepreneurs may struggle to access reliable electricity and transportation services, which can
hinder their ability to operate and grow their businesses (Olatunji, 2018). Without access to ba
sic infrastructure, women-owned businesses may face challenges in delivering products and se
rvices to customers. Social and cultural factors can also influence the performance of women-
owned businesses in Africa. In countries like Zimbabwe, for example, cultural norms and belie
fs about women's roles in society impact women entrepreneurs' ability to succeed (Nyawata, 2
017). This include challenges such as lack of support from family members, discrimination in
business dealings, and limited access to resources.

The size and type of industry in which women-owned businesses operate also impact their per
formance. In countries like Ghana, for instance, women entrepreneurs may face challenges in i
ndustries that are traditionally male-dominated, such as construction or manufacturing (Ezean
ya, 2019). Without support and resources tailored to their needs, women-owned businesses in t
hese industries may struggle to compete and grow. Further, economic conditions and market tr
ends can also play a significant role in influencing the performance of women-owned business

24
es in Africa. In countries like Kenya, for example, women entrepreneurs may face challenges i
n navigating volatile market conditions and changing consumer preferences (Mugambi & Mar
ire, 2020). Without access to timely and accurate market information, women-owned business
es may struggle to adapt and thrive in competitive markets.

2.5 Impact of External Factors on Women-Owned Businesses

Women-owned businesses have been on the rise in recent years, contributing significantly to t
he economy and society as a whole. Access to finance is a critical factor influencing the perfor
mance of women-owned businesses. Financial resources are essential for starting, sustaining, a
nd expanding businesses. However, women entrepreneurs often face significant challenges in
securing adequate financing. According to a study by the International Finance Corporation, w
omen-owned businesses receive less financing compared to their male counterparts (Ayyagari
et al., 2011). This disparity is due to various factors, including gender biases within financial i
nstitutions, lack of collateral, and limited financial literacy among women entrepreneurs. The i
nsufficient access to capital restricts women-owned businesses from investing in necessary res
ources such as inventory, technology, and skilled labor, thereby limiting their growth potential
and competitive edge in the market. Addressing these financial barriers is crucial for enhancin
g the success and sustainability of women-owned businesses.

The business skills and training that entrepreneurs possess are fundamental to the success of th
eir ventures. For women-owned businesses, acquiring relevant business skills and training can
significantly enhance their performance. Effective business management, strategic planning,
marketing, and financial literacy are critical components of entrepreneurial success. Research i
ndicates that women entrepreneurs often have less access to business education and training o
pportunities compared to men, which can impede their ability to effectively manage and grow
their businesses (Brush et al., 2014). Providing targeted training programs and mentorship opp
ortunities can empower women entrepreneurs with the knowledge and skills needed to navigat
e the challenges of the business environment, improve operational efficiency, and drive busine
ss growth. By investing in business skills development, women-owned businesses can better le
verage their strengths and opportunities in the market (Ayyagari et al., 2011).

Access to markets is another pivotal factor that influences the performance of women-owned
businesses. Market access refers to the ability of businesses to reach and sell to their target cus
tomers. Women entrepreneurs often face barriers in accessing markets due to limited networki
ng opportunities, gender biases, and lack of market information. These barriers can restrict the

25
ir ability to identify and exploit market opportunities, leading to lower sales and growth potent
ial. Enhancing market access for women-owned businesses involves addressing these barriers
through initiatives such as networking events, market linkage programs, and information disse
mination. Additionally, fostering partnerships and collaborations can help women entrepreneur
s expand their market reach and improve their competitive position. By facilitating better acce
ss to markets, women-owned businesses can increase their customer base, revenue, and overal
l performance (Brush et al., 2014).

Technology adoption plays a significant role in the performance of businesses in today's digita
l economy. For women-owned businesses, leveraging technology can lead to increased efficie
ncy, improved customer engagement, and expanded market reach. However, women entrepren
eurs may face challenges in adopting and integrating new technologies due to factors such as l
imited technical knowledge, financial constraints, and lack of access to technological resource
s. Studies have shown that businesses that effectively adopt technology can achieve better ope
rational efficiency, innovative product development, and enhanced competitiveness (Coleman,
2000). To support women-owned businesses in technology adoption, it is essential to provide a
ccess to affordable technological solutions, training programs, and support services. By embra
cing technology, women entrepreneurs can streamline their operations, improve service delive
ry, and tap into new market opportunities, ultimately enhancing their business performance an
d sustainability (Ayyagari et al., 2011).

2.6 Conceptual framework

The performance of small businesses, especially those owned by women, is influenced by a co
mplex interplay of various factors in Solwezi. Understanding these factors and their relationsh
ips is crucial for enhancing the success and sustainability of women-owned businesses in the r
egion. This conceptual framework aimed to provide a structured approach to analyzing the key
variables that influence the performance of women-owned businesses in Solwezi.

a. Access to Finance

Access to finance is a critical factor that determines the financial resources available to wome
n entrepreneurs in Solwezi. This variable encompasses the availability of loans, grants, ventur
e capital, and other forms of funding that women-owned businesses can access to start, operate,
and expand their ventures. Limited access to finance can hinder business growth and develop
ment, while improved access can lead to increased investment, expansion opportunities, and o
verall financial stability.

26
b. Business Skills and Training:

Business skills and training refer to the level of knowledge, expertise, and training programs a
vailable to women entrepreneurs in Solwezi. This variable includes managerial skills, operatio
nal capabilities, financial literacy, marketing strategies, and other essential skills needed to run
a successful business. Investing in business skills and training programs can enhance the comp
etence and effectiveness of women-owned businesses, leading to improved decision-making, s
trategic planning, and overall performance.

c. Market Access and Competition:

Market access and competition are crucial factors that impact the ability of women-owned bus
inesses to reach customers, secure contracts, and compete effectively in Solwezi. This variable
considers the opportunities and challenges related to accessing local and regional markets, ide
ntifying target customers, developing competitive strategies, and differentiating products or se
rvices. Understanding market dynamics and competition can help women entrepreneurs navig
ate challenges and capitalize on growth opportunities.

d. Technology Adoption:

Technology adoption refers to the extent to which women-owned businesses in Solwezi levera
ge digital tools, information technology, automation, and online platforms to improve their op
erations, reach customers, and enhance competitiveness. This variable considers factors such a
s access to technology, digital literacy, adoption of e-commerce solutions, use of social media
for marketing, and integration of technology into business processes. Embracing technology c
an drive innovation, efficiency, and market expansion for women entrepreneurs.

Access to Finance

Business Skills and Training Market Access

Technology Adoption

27
(Source: Researcher, 2024).

2.7 Research Gap

While there had been extensive research on the factors influencing the performance of small b
usinesses in various contexts, there was a noticeable gap in the literature concerning the specif
ic challenges and opportunities faced by women-owned businesses in Solwezi, Zambia. Despit
e the increasing number of women venturing into entrepreneurship in this region, there was a l
ack of comprehensive studies that delved into the unique factors that influenced the success of
women-owned businesses in Solwezi. One of the key research gaps that needed to be addresse
d was the limited understanding of the socio-cultural barriers that women entrepreneurs faced
in Solwezi. Gender norms and stereotypes impacted the way women were perceived in the bus
iness world and influenced their access to resources, market opportunities, and networks. Rese
arch focusing on these socio-cultural factors provided valuable insights into how women-own
ed businesses could overcome these challenges and thrive in Solwezi.

Furthermore, there was a lack of research on the role of government policies and support progr
ams in facilitating the growth of women-owned businesses in Solwezi. Government initiatives
such as funding schemes, training programs, and networking opportunities significantly impac
ted the success of women entrepreneurs. Understanding how these policies were implemented
and their effectiveness in supporting women-owned businesses was crucial for fostering a con
ducive environment for women entrepreneurs in Solwezi.

Another research gap that needed attention was the lack of studies that explored the impact of
access to finance on the performance of women-owned businesses in Solwezi. Women entrepr
eneurs often faced difficulties in accessing finance due to factors such as limited collateral, lac
k of credit history, and gender bias in the financial sector. Exploring the challenges faced by w
omen entrepreneurs in securing funding and the strategies they employed to overcome these c
hallenges provided valuable insights for policymakers, financial institutions, and women entre
preneurs themselves.

This research addressed these gaps by conducting a thorough investigation into the socio-cultu
ral barriers, government policies, and access to finance affecting women-owned businesses in
Solwezi. It reduced the gap in the literature by providing comprehensive data and analysis on t
hese critical factors. The findings helped policymakers, business support organizations, and w
omen entrepreneurs develop targeted strategies to enhance the growth and sustainability of wo

28
men-owned businesses in the region. By filling these gaps, the research contributed to a better
understanding of the challenges and opportunities faced by women entrepreneurs in Solwezi,
promoting their economic empowerment and success.

2.8 Summary of the Chapter

The literature review provided a comprehensive overview of the factors influencing the perfor
mance of women-owned businesses in Solwezi, Zambia. It highlighted the importance of unde
rstanding these factors to support the success and sustainability of women entrepreneurs in the
region. The review covered global, African, and Zambian perspectives, emphasizing key chall
enges such as access to finance, business skills and training, market access and competition, re
gulatory environment, technology adoption, social and cultural factors, and support systems.
Key findings from the literature review included: Women-owned businesses played a significa
nt role in economic development and job creation globally, but they still faced challenges such
as limited access to finance and market barriers. African countries, including Zambia, experie
nced unique challenges for women entrepreneurs, such as limited access to capital, regulatory
constraints, and cultural biases. In Zambia, women-owned businesses struggled with access to
finance, lack of business skills, market competition, regulatory challenges, technological limit
ations, and social/cultural barriers. The conceptual framework developed based on these findin
gs illustrated how independent variables such as access to finance, business skills, market acce
ss, regulatory environment, technology adoption, social/cultural factors, and support systems d
irectly or indirectly influenced the dependent variable of business performance for women-ow
ned businesses in Solwezi. The research gap analysis identified the need for more focused stud
ies on socio-cultural barriers, the impact of government policies, and access to finance challen
ges faced by women entrepreneurs in Solwezi.

29
 CHAPTER THREE: METHODOLOGY

3.0 Overview
The aim of this research was to examine the factors influencing the performance of small busi
nesses, with a specific focus on women-owned businesses in Solwezi. Solwezi, a rapidly grow
ing town in Zambia, had an evolving entrepreneurial landscape. This chapter outlined the stud
y design, study population, sampling technique and sample size, data collection methods, valid
ity and reliability considerations, data analysis techniques, and ethical considerations.

3.1 Techniques and Procedures

3.1.1 Data Collection

In In conducting the study, a mixed-method approach was utilized to gather comprehensive da
ta. The research instruments used in data collection were a structured questionnaire and semi-s
tructured interviews. The structured questionnaire aimed to obtain data on the factors influenci
ng the performance of women-owned businesses in Solwezi. On the other hand, the semi-struc
tured interviews provided a detailed understanding of these factors. The combination of the qu
estionnaire and the interviews ensured that a wide range of data was collected, both quantitativ
e and qualitative, providing a robust and comprehensive understanding of the phenomenon un
der study.

The data collection process involved several steps. Data collection included interviews and foc
us group discussions, conducted in a respectful and culturally sensitive manner to ensure parti
cipant comfort and engagement. Before initiating data collection, thorough preparation and pla
nning took place. This included obtaining ethical approval from relevant authorities, securing i
nformed consent from participants, and developing a detailed schedule for interviews and focu
s group discussions.

Efforts were made to ensure diversity in age, gender, and perspectives among the participants,
providing a comprehensive understanding of the factors involved. Prior to any data collection
activities, participants were fully informed about the purpose of the study, the nature of their i
nvolvement, and the confidentiality measures in place. Informed consent was obtained from ea
ch participant, emphasizing their voluntary participation and the right to withdraw at any point.

Individual interviews were conducted using a pre-designed interview guide with open-ended a
nd closed-ended questions. These interviews allowed for in-depth exploration of participants' e
xperiences, perceptions, and insights related to small business performance. A voice recorder

30
was used to capture audio data, ensuring accuracy in representing participants' voices. Group d
ynamics were explored through focus group discussions, providing a platform for participants
to share and discuss their views collectively. These discussions were facilitated using a semi-st
ructured guide to maintain a balance between exploration and participant interaction. Through
out the data collection process, the researcher used a notepad to document observational insigh
ts and non-verbal cues. This qualitative data provided additional context and enriched the unde
rstanding of the complex factors influencing the performance of women-owned small business
es in the targeted community.

After each interview, a debriefing session was conducted to address any emotional or psycholo
gical impact on participants. Support services and referrals were provided if needed. Collected
data were securely stored, ensuring confidentiality and anonymity. Transcriptions of audio rec
ordings and notes were coded for analysis. By following these steps, the data collection proces
s aimed to gather comprehensive and context-specific information on the factors contributing t
o the performance of women-owned businesses.

To comprehensively understand the factors influencing the performance of small businesses, s

pecifically focusing on women-owned businesses in Solwezi, a mixed-methods approach was
employed, utilizing data collection tools such as an interview guide, voice recorder, and notep
ad. The interview guide consisted of open-ended questions designed to elicit detailed response
s from key informants, including adolescents, community members, and relevant stakeholders.
The voice recorder was used to capture audio data during interviews, ensuring the accurate rep
resentation of participants' perspectives. Additionally, a notepad was employed to document o
bservational insights and non-verbal cues during interactions, providing supplementary contex
t to the qualitative data. This combination of tools aimed to gather rich, context-specific infor
mation and enhance the depth of understanding of the performance of small businesses in Sol
wezi in the targeted community.

3.1.2 Data analysis

The 3.1.2 Data Analysis

The study employed both descriptive and thematic analyses to analyze the quantitative and qu
alitative data, respectively. For the quantitative data analysis, Microsoft Excel was utilized to g
enerate clear and concise bar and pie charts, facilitating easier interpretation. The thematic ana
lysis procedure was applied to the qualitative data, enabling a thorough examination to identif
y key themes and patterns. This dual approach to data analysis allowed for a comprehensive u

31
nderstanding of the research findings and provided a robust foundation for drawing accurate c
onclusions. Overall, the study's methodology was rigorous and utilized appropriate techniques
to analyze both quantitative and qualitative data, enhancing the validity and reliability of the r
esults.

3.2 Time Horizon

3.2.1 Cross-Sectional Research
Cross-sectional research provided a snapshot of the current state of women-owned small busin
esses in Solwezi at a specific point in time. This method involved collecting data from a divers
e group of women entrepreneurs simultaneously, enabling an analysis of various factors influe
ncing their business performance. By employing surveys, interviews, and observational metho
ds, information was gathered on critical variables such as access to finance, education level, b
usiness experience, market conditions, and socio-cultural influences.

Using cross-sectional research allowed for the identification of correlations between these fact
ors and business performance. For instance, the study determined if there was a significant rel
ationship between educational attainment and business success or if market conditions signific
antly impacted profitability. This approach was beneficial for understanding the broad landsca
pe of women-owned businesses in Solwezi, highlighting prevalent challenges and opportunitie
s faced by these entrepreneurs. The results guided immediate policy interventions and support
programs tailored to the current needs of women entrepreneurs..

3.3 Research Method (Choices)

3.3.1 Mixed Method

A research design is defined as a procedural plan adopted by the researcher to answer question
s vividly, objectively, accurately, and economically (Mkhwanazi & Maharaj, 2016). This study
employed a mixed-methods approach to gain a comprehensive understanding of the factors inf
luencing the performance of small businesses, with a specific focus on women-owned busines
ses in Solwezi. The integration of qualitative and quantitative methods was crucial as it enable
d the collection of rich, detailed data while also allowing for the generalization of findings thr
ough statistical analysis.

The quantitative component of this study involved the use of structured surveys to collect data
from a significant number of women-owned small businesses in Solwezi. This approach allow
ed for the measurement of variables such as financial performance, access to capital, market c

32
onditions, and business strategies. The quantitative data provided a broad overview of the com
mon factors affecting business performance and enabled the identification of patterns and corr
elations that could be generalized to a larger population. The statistical analysis included descr
iptive statistics, such as mean, median, and mode, as well as inferential statistics, such as regre
ssion analysis, to identify key predictors of business performance.

The qualitative component involved conducting in-depth interviews and focus group discussio
ns with a smaller, purposively selected sample of women business owners. This approach allo
wed for the exploration of personal experiences, challenges, and strategies that were not easily
quantifiable. Through thematic analysis, the qualitative data provided nuanced insights into th
e lived experiences of these business owners, including cultural, social, and personal factors th
at influenced their business operations. This component was essential for understanding the co
ntext-specific factors that quantitative methods might overlook, thereby enriching the overall f
indings of the study.

The integration of qualitative and quantitative methods was achieved through a convergent par
allel design, where both types of data were collected and analyzed simultaneously but indepen
dently. The results from both components were compared and contrasted to provide a compreh
ensive understanding of the factors influencing business performance. For instance, while qua
ntitative data revealed a significant correlation between access to capital and business perform
ance, qualitative data provided insights into the barriers women faced in accessing financial se
rvices. This complementary use of methods ensured that the study captured both the breadth a
nd depth of the issues at hand.

3.4 Data collection Strategies

3.4.1 Study Population

The study population, as defined by Tengbeh and Ngoma (2020), refers to the complete group
of cases that the research aims to investigate, from which a sample is selected. In this study, th
e population comprised women-owned businesses in Solwezi. These businesses formed the pri
mary focus of the research, with the goal of understanding the experiences, perspectives, and f
actors influencing their performance. The inclusion of women-owned businesses ensured a co
mprehensive understanding of the phenomenon, aiding in the formulation of targeted intervent
ions and strategies. The study utilized this population by first defining the criteria for inclusion,
ensuring that all participants were women who owned and operated businesses in Solwezi. Fr

33
om this defined population, a sample was selected using appropriate sampling techniques to en
sure diversity and representativeness.

By focusing on this specific group, the research was able to gather detailed and relevant data.
The structured questionnaires and semi-structured interviews were tailored to address the uniq
ue challenges and opportunities faced by women entrepreneurs in Solwezi. This approach pro
vided valuable insights into the socio-cultural, financial, and regulatory factors affecting their
business performance, ultimately contributing to a deeper understanding and the development
of effective support strategies for women-owned businesses in the region.

3.4.2 Sampling Technique

For the study of factors influencing the performance of women-owned businesses in Solwezi,
a stratified random sampling approach was employed. This technique involved dividing the
target population, which consisted of women-owned businesses in Solwezi, into homogeneous
groups based on specific characteristics such as business size, industry type, and years in
operation. From each stratum, a random sample of businesses was selected to ensure
representation across different segments of the population. This approach enhanced the
reliability and validity of the study by capturing diverse perspectives and experiences within
the women-owned business community in Solwezi.

3.4.3 Sample Size

The research utilized a sample size of 50 participants. This sample size was strategically
selected to ensure a representative and diverse range of businesses within the study area. By
including 50 women-owned businesses, the research aimed to capture a comprehensive
understanding of the factors affecting their performance, considering various industries,
business sizes, and operational challenges. This sampling approach allowed for in-depth
analysis and comparison across different business contexts, contributing valuable insights into
the unique challenges and opportunities faced by women entrepreneurs in Solwezi. The
selected sample size of 50 also enabled statistical analysis and generalization of findings to a
broader population of women-owned businesses in similar settings, enhancing the study's
relevance and applicability to business development strategies and policy recommendations.

The study utilized this method by first identifying key characteristics for stratification, such as
business size, industry type, and years in operation. The target population was then divided
into strata based on these characteristics. From each stratum, businesses were randomly
selected to form a sample of 50 participants. This process ensured that the sample was

34
representative of the diversity within the women-owned business community in Solwezi. The
stratified random sampling technique thus facilitated the collection of comprehensive data,
capturing a wide range of experiences and perspectives, which in turn provided a robust basis
for analyzing the factors influencing the performance of women-owned businesses in Solwezi.

3.4.4 Survey Methodology

Surveys were designed and distributed to a representative sample of women entrepreneurs in
Solwezi. The survey included both closed and open-ended questions to gather quantitative
data on business performance metrics (revenue, profit margins, and growth rates) and
qualitative data on personal experiences, challenges, and strategies employed by these
entrepreneurs. The survey covered areas such as access to finance, market conditions, business
skills, and socio-cultural factors. This method allowed the researcher to collect comprehensive
data on various aspects influencing business performance.

3.4.5 Interviews
In-depth interviews were conducted with a select group of women business owners to gain
deeper insights into the personal and contextual factors affecting their business performance.
These interviews explored themes such as motivation, leadership styles, coping mechanisms,
and support systems. The interview data provided rich, narrative details that complemented
the broader survey data. The researcher employed this method by selecting participants who
could provide diverse and detailed perspectives, conducting interviews in a manner that
encouraged open and honest dialogue.

3.4.6 Focus Groups

Focus groups were organized to facilitate discussions among women entrepreneurs. This
method encouraged participants to share their experiences, challenges, and success stories in a
collective setting, fostering a collaborative exchange of ideas. Focus groups helped identify
common issues and potential solutions that might not have emerged in individual interviews
or surveys. The researcher employed this method by bringing together groups of women
entrepreneurs and guiding discussions to ensure a wide range of topics were covered, while
also allowing participants to interact and support each other.

3.4.7 Case Studies

Detailed case studies of successful and struggling women-owned businesses were developed.
These case studies involved comprehensive data collection, including business records,
financial statements, and personal interviews with the business owners. Case studies provided
an in-depth look at the specific factors that contributed to or hindered business success. The

35
researcher employed this method by selecting businesses that represented a spectrum of
success and challenges, gathering detailed information from multiple sources to create a
holistic view of each case.

3.5 Approaches To Data Interpretations

3.5.1 Deductive
In the study of factors influencing the performance of women-owned small businesses in
Solwezi, both deductive and inductive approaches to interpretation were employed to provide
a comprehensive analysis. The deductive approach involved testing predefined hypotheses
based on existing theories and literature related to small business performance, gender
dynamics in entrepreneurship, and socioeconomic factors affecting business outcomes.
Established theoretical frameworks, such as the Resource-Based View (RBV) or the
Entrepreneurial Ecosystem theory, were applied to systematically analyze the data and
confirm or refute these hypotheses, ensuring a structured and focused interpretation of the
findings.

3.5.2 Inductive
Conversely, the inductive approach allowed for the emergence of patterns, themes, and
insights directly from the data collected through interviews, surveys, and observations. This
bottom-up method enabled the identification of unique, context-specific factors that may not
have been captured by existing theories. By letting the data guide the interpretation process,
the study uncovered novel insights into the challenges and opportunities faced by women
entrepreneurs in Solwezi. This dual approach provided a balanced analysis, combining the
rigor of hypothesis testing with the richness of data-driven discovery, ultimately leading to a
deeper understanding of the factors influencing the performance of women-owned small
businesses in the region.

3.6 Philosophies
In conducting a case study on women-owned businesses in Solwezi regarding factors
influencing performance, various research philosophies guided the approach and interpretation
of findings.

Positivism was a philosophy that emphasized empirical observation, objectivity, and

quantifiable data. This research applied positivism through quantitative methods such as
surveys and statistical analysis to measure factors like access to finance, business skills,
market access, and technology adoption. It sought to uncover causal relationships and

36
patterns, providing concrete data-driven insights into the performance of women-owned
businesses.

Realism, on the other hand, acknowledged the existence of an objective reality independent of
human perception. Realism was integrated into the research by acknowledging the contextual
factors and external influences that impacted women-owned businesses in Solwezi. This
approach involved understanding the social, economic, and cultural environments in which
these businesses operated, recognizing that multiple perspectives and interpretations
contributed to the overall understanding of their performance.

Interpretivism, also known as constructivism or hermeneutics, focused on understanding

social phenomena through subjective interpretations and meanings attributed by individuals.
In this case study, interpretivism was employed through qualitative methods such as
interviews, focus groups, and observations to delve into the lived experiences, motivations,
and perceptions of women entrepreneurs in Solwezi. This approach aimed to uncover the
underlying factors, motivations, and challenges that influenced the performance of women-
owned businesses from their own perspectives.

By integrating positivism, realism, and interpretivism, this research provided a comprehensive

and nuanced understanding of the factors influencing the performance of women-owned
businesses in Solwezi. It allowed for the exploration of both quantitative data-driven insights
and qualitative narratives, offering a holistic view of the challenges, opportunities, and
strategies for improving the performance of these businesses.

3.7 Validity and Reliability

The study took measures to ensure the validity and reliability of its data collection
instruments. Specifically, pre-testing and pilot testing were conducted to identify and address
any potential issues with the instruments. Additionally, the study used established
measurement tools, which were rigorously tested and validated for accuracy and precision.
Inter-rater reliability checks were also conducted to increase the accuracy and consistency of
the data collected.

3.8.1 Reliability and Trustworthiness of Data Collection Instrument

To ensure that the study findings were trustworthy, several considerations were made:

Credibility
Data were documented exactly as obtained to reflect the respondents’ actual narration of their
experiences. The researcher avoided manipulation of data to suit personal views and opinions.

37
Transferability
Findings were not transferable to another setup due to the study's mixed-method nature and
relatively small scale.

Dependability
An audit was conducted to ensure that the analyzed data closely represented the true findings,
enhancing dependability.

Conformability
Responses were transcribed to reflect respondents' statements without influence from the
researcher's personal feelings or opinions, ensuring conformability. Analysis, interpretations,
and conclusions were also made available to the study supervisor and co-supervisor for
verification.

3.9 Ethical Considerations

Prior to data collection, approval was secured from ERES converge IRB, and consent was
sought from the District Commissioner. Written informed consent was obtained from each
participant, ensuring autonomy and protection of participants' identities. Equal conditions
were maintained for all respondents during interviews, and confidentiality was ensured by
keeping information out of reach of unauthorized individuals. Overall, ethical principles of
autonomy, justice, fidelity, veracity, and confidentiality were upheld throughout the research
process.

3.10 Summary of the Chapter

The research aimed to explore factors influencing women-owned small businesses in Solwezi,
Zambia, utilizing a mixed-methods approach with surveys, interviews, and focus groups. A str
atified random sampling technique was employed with 50 participants. Data analysis included
descriptive and thematic analyses, while interpretations followed positivism, realism, and inter
pretivism. Ethical considerations ensured participant autonomy, justice, fidelity, veracity, and c
onfidentiality. The study's time horizon included cross-sectional and longitudinal research to c
apture immediate challenges and long-term trends. This comprehensive methodology ensured
a robust understanding of the performance factors affecting women entrepreneurs in Solwezi.

38
CHAPTER FOUR: PRESENTATION OF THE FINDINGS

4.0 Overview
The purpose of this chapter is to present the findings of the research study on the factors
influencing the performance of women-owned businesses in Solwezi, Zambia. The study
aimed to gather detailed demographic information, assess access to finance, evaluate business
skills and training, analyze access to markets, explore technology adoption, and understand
the general business environment for these enterprises. Data was collected through structured
questionnaires, covering various aspects of business operations and challenges faced by
women entrepreneurs. The findings provide a comprehensive understanding of the
demographic characteristics of the respondents, their experiences and challenges in accessing
finance, the impact of business skills training, market accessibility issues, the influence of
technology on business performance, and the role of the regulatory environment. This chapter
presents the data, highlighting key trends and insights derived from the responses, and sets the
stage for discussing the implications and recommendations in the subsequent chapters.

4.1 Demographic characteristics

The study utilized a sample size of 50 women-owned businesses in Solwezi all female and no
male interviewed because the study focused only on female. However, these participants
expressed their demographic age group characteristics as follows.

4.1.1 Age group characteristics

Age Frequency

Below 25 years 11

25-35 years 16

36-45 years 13

46-55 years 7

Above 55 years 3

Total 50

39
 Age group characteristics
18
16
14
12
10
8
6
4
2
0
Below 25 years 25-35 years 36-45 years 46-55 years Above 55 years

Figure 4.1. Age group characteristics

The findings from the case study on women-owned businesses in Solwezi reveal a diverse age
distribution among the entrepreneurs. Specifically, 11 women are below 25 years, 16 women
are between 25-35 years, 13 women are in the 36–45-year range, 7 women are aged 46-55
years, and 3 women are above 55 years, making a total of 50 respondents. This distribution
indicates a significant presence of young and middle-aged women in the entrepreneurial
landscape of Solwezi, with the highest concentration in the 25-35 years age group. This trend
suggests that younger women are increasingly participating in business activities, likely driven
by factors such as the desire for financial independence, innovative business opportunities,
and access to entrepreneurial resources and training. The lower numbers in the older age
brackets could reflect generational shifts in business involvement, with older women
potentially facing different socio-economic challenges or preferring traditional roles. Overall,
these findings highlight the dynamic nature of women's entrepreneurship in Solwezi,
influenced by age-related factors that shape their business performance and opportunities.

4.1.2 Educational Qualification

Education level Frequency

Primary education 14

Secondary education 21

Diploma 11

Bachelor's degree 3

40
 Master's degree or higher 1

Total 50

Educational Level
Above 55 years
6% Below 25 years
46-55 years
14% 22%

36-45 years
26%
25-35 years
32%

Figure 4.2. educational level

The study on factors influencing the performance of women-owned small businesses in

Solwezi revealed significant variations in educational qualifications among the participants.
Out of the 50 respondents, 14 had primary education, 21 had secondary education, 11 held
diplomas, 3 had bachelor's degrees, and only 1 possessed a master's degree or higher. These
findings indicate that the majority of women entrepreneurs in Solwezi have attained secondary
education or lower, which may impact their business performance. Higher levels of education
often correlate with better business management skills, enhanced problem-solving abilities,
and increased access to information and resources. Consequently, the relatively low number of
respondents with higher education degrees suggests a potential barrier to optimizing business
performance and growth, highlighting the need for targeted educational programs and support
systems to empower these women entrepreneurs.

4.1.3 Years of Business Operation

Years Frequency

Less than 1 year 8

1-3 years 17

4-6 years 11

41
 7-10 years 9

More than 10 years 5

Total 50

Figure 5.3 years of business operation

In the case study of women-owned businesses in Solwezi, the distribution of years in business
operation indicates a diverse range of entrepreneurial experience. Specifically, 8 businesses
have been operating for less than a year, 17 businesses for 1-3 years, 11 businesses for 4-6
years, 9 businesses for 7-10 years, and 5 businesses for more than 10 years. These findings
suggest that the majority of women entrepreneurs are relatively new to business, with 25 out
of 50 (50%) having less than three years of experience. This prevalence of early-stage
businesses could reflect both the growing interest among women in Solwezi to venture into
entrepreneurship and the challenges of sustaining long-term business operations. The lower
number of businesses in the more than 10-year category might indicate obstacles such as
limited access to capital, market saturation, or inadequate support systems that hinder
longevity and growth. Understanding this distribution is crucial for tailoring support programs
to address the specific needs and challenges faced by women entrepreneurs at different stages
of their business journey.

4.1.4 Business industry operation

Name of Business Frequency

Retail 17

Services 14

Manufacturing 10

Hospitality 7

Other 2

Total 50

42
 Business Industry Operation
Other 2

Hospitality 7

Manufacturing 10

Services 14

Retail 17

0 2 4 6 8 10 12 14 16 18

The findings from the study on women-owned businesses in Solwezi indicate that the retail
sector is the most prevalent, with 17 businesses, followed by the services sector with 14
businesses. Manufacturing accounts for 10 businesses, hospitality comprises 7, and there are 2
businesses classified as 'Other.' These results suggest that women entrepreneurs in Solwezi are
predominantly engaged in retail and services, possibly due to lower entry barriers and the
immediate demand for these sectors in the local economy. The relatively lower representation
in manufacturing and hospitality might be attributed to higher capital requirements,
specialized skills, and regulatory challenges. This distribution highlights the need for targeted
support and resources to diversify women's participation across various business industries,
enhancing overall economic resilience and growth.

4.2 Access to Finance

Questionnaires were distributed to 20 participants, capturing quantitative data on factors
influencing women-owned small businesses in Solwezi. The participants who collected were
identified using the pseudonyms SBW which means Solwezi Business women and they
ranged from 1 to 20. Hence, they were identified as SBW1, SWB2….. and SWB20.
Interviews were conducted with 10 participants and the researcher used the alphabetical letters
as the pseudonyms which means Participants A, B, C, D until the last one J. These provided
qualitative insights into their experiences, challenges, and strategies. The remaining 20
participants formed a Focus Group discussion and only 4 Focus Group Discussion (FDG)
were formed and these were FGD1, FGD2, FGD3 and FGD4, allowing for interactive
dialogue and collective exploration of common themes and issues. This mixed-methods
approach ensured a comprehensive data collection process, combining quantitative metrics

43
with qualitative narratives. It enabled a nuanced understanding of the multifaceted factors
impacting women entrepreneurs in Solwezi, contributing to a more holistic analysis of their
performance determinants.

4.2.1 Challenges in Accessing Finance

Surveys

The researcher distributed 20 questionnaires/surveys in the field and these expressed different
concerns on the challenges they faced. participants were asked about the challenges they face
in accessing the finance in Solwezi. The central part was that these women lack support from
the public and from the private sectors. The following were selected responses.

SBW1 said,

“From the time I started my business, I have faced a challenge of not being supported by the
public, government and the organization. This has reduced my capita.”

SBW5 narrated,

“I do not have access to get loan especially from the government.”

SBW17 explained;

The challenge I face in accessing finances to boost my business is lack of knowledge to access
government loans like CDF.

Interview schedule

The participants were interviewed on the challenges in accessing finances. Many women-own
ed businesses in Solwezi struggle to access credit facilities. Banks and financial institutions oft
en have stringent requirements, such as collateral and extensive documentation, which many s
mall business owners find difficult to meet. Participant A mentioned,

"The process of applying for a loan is so complicated and demanding. I don’t have property to
use as collateral, which makes it impossible for me to get the funds I need to expand my busin
ess."

Participant B said;

"One of the biggest challenges I face is the high-interest rates on loans. Many small business
owners simply can't afford the repayment terms, which makes it difficult to access the capital I
need to grow."

44
Participant E narrated

"Collateral requirements are a significant barrier for us. Most financial institutions require
substantial assets as security for loans, but many of us don't have such assets to offer."

Participants F mentioned;

"There is a lack of financial literacy among small business owners here. Many of I don't fully
understand the loan application process or how to manage debt effectively, which hinders my
ability to secure financing."

Focus Group Discussion

During the focus group discussion, participants highlighted systemic barriers and gender bias
as significant challenges. Women in Solwezi often face discrimination from financial
institutions, which can be hesitant to lend to female entrepreneurs. Focus Group Discuss 1
(FGD1) said;

"The consensus among us is that high-interest rates and stringent repayment

terms are major obstacles. We discussed how these financial terms are
prohibitive, especially for start-ups and small-scale businesses that do not
generate high revenues initially. This situation forces many to either avoid
taking loans altogether or to seek informal lending options, which can be risky
and more expensive in the long run."

FGD3

"During our discussion, it became clear that the requirement for substantial
collateral is a common issue. Many small business owners in Solwezi do not
possess the necessary assets to secure loans. Additionally, the process of
providing comprehensive financial documentation is daunting and often beyond
the capacity of many small business owners, who may not have formal
bookkeeping practices in place. This lack of formal financial records further
complicates the loan approval process."

FGD4 said;

"A recurring theme in our focus group was the need for improved financial
literacy and awareness. Many participants mentioned that they lack
understanding of how to navigate the financial system, including the specifics of

45
 loan applications, interest calculations, and debt management. There was a
strong consensus that educational programs or workshops could significantly
help in bridging this knowledge gap, enabling more business owners to
confidently apply for and manage loans."

Participants were asked on the access to finance and how it influences the performance of the
business.

SBW3 said

Access to finance has significantly boosted our business's ability to expand.

With increased capital, we've been able to open new branches and invest in
additional inventory, which has led to a 20% increase in overall sales.

SBW12 narrated

Financial access has enabled us to better manage our cash flow. We've been
able to cover operational costs more effectively and ensure timely payment to
suppliers, reducing the risk of supply chain disruptions.

SBW15 mentioned

With available funds, we have invested in modern technology and equipment,

improving our production efficiency and product quality. This has not only
enhanced our competitiveness but also increased customer satisfaction.

SBW19 said

Access to finance has allowed us to create a financial buffer, helping us

navigate economic downturns and unexpected expenses. This financial stability
has been crucial in maintaining continuous operations and steady growth.

Interview Schedule

Participants B:

"Access to finance has been a game-changer for my business. I was able to

upgrade my facilities and purchase new machinery, which has increased my
production capacity and reduced operational costs. This has directly
contributed to my growth and profitability."

Participants B:

46
 "Having access to financing options has helped us take advantage of market
opportunities quickly. We recently secured a loan that allowed us to bulk
purchase raw materials at a discounted rate, significantly boosting our profit
margins."

Participant C:

"Finance accessibility has provided us with the confidence to innovate and

take calculated risks. We launched a new product line last year, funded by a
business loan, and it has been very successful in attracting new customers and
increasing our market share. Securing funds through various financing options
has been crucial for our business continuity during challenging times. For
instance, during the pandemic, the financial support we received helped us
sustain our workforce and keep operations running smoothly."

Focus Group Discussions:

The researcher conducted a focus group discussion to delve deeper into how access to finances
influences the performance of women-owned businesses in Solwezi. The following selected
verbatim responses provide insights into the participants' perspectives and experiences:

1. Focus Group Participant 2:

"The availability of finance has been instrumental in our business's strategic

planning and long-term growth. We've used the funds to not only expand our
physical footprint but also invest in staff training and development. This
comprehensive approach has improved our overall service delivery and
operational efficiency. By continuously upskilling our employees, we've
fostered a more competent and motivated workforce, which has been reflected
in our business's increased productivity and customer satisfaction."

2. Focus Group Participant 2:

"Access to finance has allowed us to diversify our product offerings and enter
new markets. Initially, our business was limited to a local customer base, but
with additional funds, we were able to invest in marketing and distribution
channels that expanded our reach nationally. This financial support has been
critical in scaling our operations and achieving economies of scale, which has,
in turn, lowered our production costs and increased our profitability. Moreover,

47
 the ability to invest in market research and customer insights has enabled us to
tailor our products to meet specific market demands, further driving our sales
growth."

3. Focus Group Participant 3:

"Financial access has provided us with the necessary resources to implement

sustainable practices within our business operations. For example, we invested
in energy-efficient equipment and eco-friendly materials, which not only
reduced our environmental impact but also led to cost savings in the long run.
Additionally, we were able to set up a small research and development unit
focused on innovating our product line to align with sustainability goals. These
initiatives, funded by accessible finance, have enhanced our brand's reputation
and attracted a loyal customer base that values sustainability, ultimately
contributing to our competitive edge and market leadership."

4.3 Business Skills and Training

When the participant was asked whether they have received any business skills training or not,
the following were responses. These responses indicate that while some women have had
access to business skills training, many still lack comprehensive and practical training
opportunities. Expanding the availability and scope of such programs could significantly
enhance the operational efficiency and growth potential of women-owned businesses in
Solwezi. Some selected verbatims were as follows.

participants Yes No

Frequency 21 29

48
 Frequency

Yes
42%
No
58%

SBW 3 said

"Investing in advanced technical training would be highly beneficial for our business. This
includes training in the latest software tools, digital marketing strategies, and data analytics.
By staying up-to-date with technological advancements, we can improve our operational
efficiency and competitive edge."

SBW14 narrated

"Providing leadership training programs for our management team would be invaluable.
Skills in effective communication, strategic planning, and conflict resolution are crucial for
fostering a strong, cohesive team and driving the company towards its goals."

Interview Schedule

Interviews were further conducted to provide more data and the following were the Reponses
from the participants. The following is what participant said;

Participant A

"One area where we can significantly improve is customer service. Training our staff on
effective communication, empathy, and problem-solving can help us better meet our clients'
needs and enhance overall customer satisfaction."

Participant B

"Developing strong project management skills within our team is essential. This includes
training in project planning, risk management, and agile methodologies. It will enable us to
handle projects more efficiently and deliver better results on time and within budget."

49
Focus Group Discussions

During focus group discussion, the selected responses were captured.

FDG1 said

"In our focus group, we identified that fostering a culture of innovation and
creativity is crucial for our long-term success. Training programs that
encourage employees to think outside the box, experiment with new ideas, and
embrace failure as a learning process can drive innovation. We also discussed
the importance of providing resources and creating an environment that
supports creative thinking. By cultivating these skills, we can develop unique
solutions, stay ahead of the competition, and adapt to changing market demands
more effectively.

FDG4: "

Another significant area highlighted in our focus group discussions was the need for
cross-functional training. Ensuring that our employees have a broader
understanding of different departments and how they interconnect can lead to
improved collaboration and efficiency. For example, sales teams understanding basic
financial principles, or marketing teams learning about product development
processes. This holistic approach can break down silos, improve communication, and
enable employees to contribute more effectively to the company's overall objectives.
Additionally, it can help in career development by providing employees with diverse
skill sets, making them more versatile and valuable to the organization.

4.4 Access to Markets

During the research, the researcher gathered information on the access to markets from all the
three categories that were formulated. the researcher only wrote the relevant data that was in
line with the research. The data collected from the questionnaires were as follows.

SBW8 said

Access to new markets has significantly boosted our sales revenue. The
ability to reach a larger customer base, both domestically and
internationally, has resulted in increased demand for our products and
services. This growth in market access has translated into higher
profitability and business expansion opportunities.

50
Sbw12 mentioned

By entering diverse markets, we have enhanced our brand recognition and

credibility. This exposure has allowed us to build a stronger brand presence
and reputation, leading to increased customer loyalty and repeat business.
The broader market reach has also opened up avenues for strategic
partnerships and collaborations.

Sbw20 narrated

Access to various markets has enabled us to optimize our supply chain

operations. By sourcing raw materials and components from different regions,
we have reduced costs and improved the quality of our products. This
diversification has also minimized the risks associated with supply chain
disruptions, ensuring smoother business operations.

Interviews schedule

Some Participants were interviewed and out of the 20 intervened participants, only selected
responses were recorded and data collected from the selected interviews were as follows

Participant A

Access to a wider range of markets has allowed me to diversify my customer

base. This diversification has not only mitigated risks associated with
dependency on a single market but has also provided stability during economic
downturns in my region. The ability to serve varied customer needs across
different markets has strengthened my business resilience.

Participant B

Expanding into new markets has provided me with valuable market

intelligence and insights. Understanding diverse consumer preferences and
market trends has driven innovation in our product offerings. This knowledge
has helped me stay competitive and adapt quickly to changing market
demands, fostering continuous improvement and growth.

51
Participant C

Greater market access has attracted potential investors and financing opportunities.
Demonstrating our presence and success in multiple markets has increased investor
confidence in our business model.

The researcher further gathered information form the Focus Group Discussion. The following
were some of the selected responses.

Focus Group Discussions

Participants highlighted that access to diverse markets has significantly contributed to

economic growth and job creation within the business. Expanding into new markets has
required increased production capacity, leading to the hiring of additional staff and the
establishment of new production facilities. This growth has had a positive ripple effect on
local communities, boosting income levels and overall economic development.

The focus group discussed the challenges encountered when accessing new markets, such as
regulatory barriers, cultural differences, and competitive pressures. However, these challenges
have driven the business to develop robust adaptation strategies, including localization of
products, compliance with local regulations, and targeted marketing campaigns. Successfully
navigating these obstacles has strengthened the business's adaptability and strategic planning
capabilities.

FDG3 said

Access to a global market has emphasized the importance of sustainable

business practices. We note that entering markets with strict environmental and
ethical standards has encouraged our business to adopt more sustainable
production methods, reduce waste, and implement corporate social
responsibility initiatives. These practices have not only enhanced our business
reputation but also aligned with global sustainability goals, attracting
environmentally conscious consumers.

4.5 Technological advancement

The researcher asked the participants if they believe that technological advancements have
positively impacted your business operations. Out of all 50 participants, 27 said that

52
Technology has streamlined our inventory management, allowing us to track stock levels in
real-time and reducing losses from overstocking or stockouts. Additionally, online marketing
has expanded our customer base beyond the local area, significantly increasing sales while 23
expressed negative concerns and did not appreciate technology as a catalyst in business.

Participants responses Yes No Total

Frequency 27 23 50

Chart Title

Frequency

0 10 20 30 40 50 60

Total No Yes

Focus group Discussion 1

Yes, technology has revolutionized our business operations in several ways. We use
digital accounting software, which has reduced errors and made financial management
more straightforward. Social media platforms have allowed us to reach a broader
audience at a lower cost compared to traditional marketing methods. Furthermore,
technology has facilitated better communication with suppliers and customers,
improving overall efficiency.

The researcher asked the participants if they think regulatory environment supports or hinders
small business growth. Most of these respondents mentioned that the regulatory environment
often hinders small business growth. The complex and frequently changing regulations create
uncertainty and make it difficult for small businesses to plan and operate efficiently.

53
Compliance costs and bureaucratic red tape also divert resources that could be better used for
business development.

Main challenges

the participant A said

One of the main challenges is accessing affordable finance. Banks are

hesitant to lend to small businesses without significant collateral.
Additionally, there is a lack of skilled labor, which makes it difficult to
maintain high standards of service and product quality. Finally, frequent
power outages disrupt operations and increase operational costs.

4.6 Strategies to Improve the Performance of Women-Owned Businesses in Solwezi

Participant A

Improving access to finance through micro-loans or grants specifically

targeted at women entrepreneurs would be a significant step. Additionally,
providing mentorship programs and business training can help women develop
the skills needed to manage and grow their businesses. Creating networking
opportunities to connect women entrepreneurs with larger markets and
potential partners can also foster growth.

Participant B

Government policies play a crucial role, but their impact is currently limited
by poor implementation. While there are policies aimed at promoting women
entrepreneurship, they often do not reach the intended beneficiaries due to lack
of awareness and ineffective execution. Strengthening the enforcement of these
policies and increasing awareness through community outreach can enhance
their impact.

Participant D

A major challenge is the inconsistent supply of electricity, which hampers

productivity and increases costs as we need to invest in backup generators.
Additionally, market access remains a challenge; it is difficult to compete with
larger businesses that have more resources and better market penetration.

54
 Another issue is the limited availability of affordable business premises, which
constrains our ability to expand.

4.7 Summary of the chapter

Chapter Four presents’ findings from a study on women-owned businesses in Solwezi,
Zambia. It covers demographic characteristics, access to finance, business skills and training,
access to markets, technological adoption, and the regulatory environment. The study revealed
a diverse age distribution among entrepreneurs, with most having secondary education or
lower. Challenges in accessing finance included lack of support, high-interest rates, and
stringent requirements. Market access boosted sales and allowed for diversification.
Technology had mixed impacts, and the regulatory environment often hindered business
growth. Strategies suggested for improvement include targeted financial support, mentorship
programs, improved policies, and addressing infrastructure challenges.

55
CHAPTER FIVE: DISCUSSION AND ANALYSIS OF FINDINGS

5.0 Overview
This chapter served the purpose of interpreting the findings in an attempt to compare them to
the research objectives, as well as the literature which was covered. The Findings of factors
influencing the performance of small businesses in Solwezi covers demographic
characteristics, access to finance, business skills and training, access to markets, technological
adoption, and the regulatory environment. The study revealed a diverse age distribution
among entrepreneurs, with most having secondary education or lower. Challenges in accessing
finance included lack of support, high-interest rates, and stringent requirements. Market access
boosted sales and allowed for diversification. Technology had mixed impacts, and the
regulatory environment often hindered business growth. Strategies suggested for improvement
include targeted financial support, mentorship programs, improved policies, and addressing
infrastructure challenges. The findings were compared with what the literature suggested, and
in so doing, the gaps between the findings and literature were established. These gaps further
enabled the researcher to make relevant recommendations. The analysis was in line with the
research objectives.

5.1 Demographic characteristics

The findings from the study on women-owned businesses in Solwezi, Zambia, present a
comprehensive picture of the demographic characteristics and operational aspects of these
enterprises. The age distribution among entrepreneurs showcases a significant presence of
young and middle-aged women, particularly concentrated in the 25-35 years age group. This
trend indicates a growing interest and participation of younger women in entrepreneurship,
possibly driven by aspirations for financial independence, innovative business opportunities,
and access to resources and training. On the educational front, the majority of women
entrepreneurs have attained secondary education or lower, highlighting a potential need for
targeted educational programs to enhance business management skills and access to resources.
Regarding business experience, a substantial portion of entrepreneurs are relatively new to
business, with 50% having less than three years of experience, indicating both the enthusiasm
for entrepreneurship and the challenges in sustaining long-term operations, possibly due to
limited access to capital and support systems. The dominance of retail and services sectors
among women-owned businesses suggests lower entry barriers and immediate demand, while
the lower representation in manufacturing and hospitality indicates challenges such as higher
capital requirements and regulatory hurdles. Overall, these findings indicate a dynamic

56
landscape of women's entrepreneurship in Solwezi, influenced by age, education, experience,
and industry dynamics, calling for tailored support programs to empower and diversify
women's participation across various sectors for enhanced economic resilience and growth.

5.2 Access to Finance

The findings from the study on access to finance for women-owned businesses in Solwezi
align closely with existing literature on the challenges and implications of financial access for
small enterprises, particularly those led by women. The qualitative data gathered through
interviews, surveys, and focus group discussions reveal several common themes and
challenges faced by women entrepreneurs in Solwezi, which are supported by academic
literature.

Firstly, the study's findings indicate that women-owned businesses in Solwezi encounter
significant challenges in accessing formal finance from banks and financial institutions. This
aligns with scholarly research that highlights the barriers faced by small businesses, especially
those without substantial collateral or credit history, in securing loans or credit lines
(Akpuokwe, Chikwe & Eneh, 2024). The narratives from participants in the study, such as the
complexity of loan application processes, high-interest rates, and stringent collateral
requirements, resonate with the literature's discussions on financial exclusion and the limited
availability of suitable financial products for small enterprises (Mer & Virdi, 2024).

Moreover, the lack of financial literacy among women entrepreneurs, as highlighted in the
study's findings, corresponds with scholarly insights into the importance of financial education
for small business owners (Mer & Virdi, 2024). The participants' experiences of not fully
understanding loan terms, repayment structures, and the overall financial system echo the
literature's emphasis on the role of financial literacy programs in empowering entrepreneurs to
make informed financial decisions and effectively manage their businesses' finances.

The study's focus group discussions revealed systemic barriers and gender bias in access to
finance, aligning with broader discussions on gender disparities in entrepreneurship and
finance (Chuma, 2024). The participants' accounts of discrimination from financial institutions
and the challenges faced by women entrepreneurs in proving creditworthiness or meeting
collateral requirements reflect the literature's discussions on gender-sensitive financing and the
need for inclusive financial policies and practices.

The study's findings also shed light on the positive impact of access to finance on women-
owned businesses in Solwezi, aligning with literature that emphasizes the role of finance in

57
business growth, innovation, and sustainability (Mer & Virdi, 2024). The participants'
narratives of how financial access enabled them to expand operations, invest in technology,
improve efficiency, and navigate economic challenges resonate with scholarly discussions on
the link between financial resources and business performance.

5.3 Business Skills and Training

The study on business skills and training among women-owned businesses in Solwezi reveals
a significant gap in the availability and accessibility of comprehensive training opportunities,
which impacts their operational efficiency and growth potential. Specifically, 21 out of 50
participants have received some form of business skills training, while 29 have not. This
disparity highlights the urgent need for expanding training programs tailored to the specific
needs of women entrepreneurs. According to Akpuokwe, Chikwe, and Eneh (2024), adequate
training and skills development are crucial for navigating the complexities of running a
business effectively, without which women may struggle and face potential failure. The
participants' responses underscore the importance of various types of training, from advanced
technical skills and digital marketing to leadership and project management, indicating a
broad spectrum of needs that must be addressed to enhance business performance.

Participant feedback further illustrates the practical benefits of targeted training programs. For
instance, SBW 3 emphasized the importance of advanced technical training in software tools,
digital marketing, and data analytics to improve operational efficiency and competitiveness.
SBW 14 highlighted the value of leadership training in communication, strategic planning,
and conflict resolution for building a cohesive and effective management team. Similarly,
Participant A pointed out the need for customer service training to better meet clients' needs
and enhance satisfaction, while Participant B focused on developing project management
skills to ensure efficient project delivery within budget and timelines (Akpuokwe, Chikwe &
Eneh, 2024).

The focus group discussions also revealed a consensus on fostering innovation and cross-
functional training. FDG1 emphasized the importance of training programs that encourage
creativity and experimentation, which can drive innovation and adaptability in a competitive
market. Additionally, FDG4 highlighted the need for cross-functional training to improve
collaboration and efficiency across different departments, suggesting that a broader
understanding of various business functions can break down silos and enhance overall
organizational performance. This holistic approach not only improves internal communication
and cooperation but also supports career development by providing employees with diverse

58
skill sets, making them more versatile and valuable to the organization (Akpuokwe, Chikwe &
Eneh, 2024).

Comparing these findings with the literature, it is evident that the lack of formal education or
training programs is a significant barrier for women entrepreneurs in Solwezi. Akpuokwe,
Chikwe, and Eneh (2024) argue that business skills encompass a wide range of competencies,
including financial management, marketing, human resource management, and strategic
planning. Without access to training that covers these areas, women entrepreneurs may find
themselves ill-equipped to make informed decisions, leading to inefficiencies and missed
opportunities for growth. Therefore, investing in tailored business skills training programs is
crucial for empowering women entrepreneurs, enhancing their market competitiveness, and
enabling them to navigate the challenges of entrepreneurship with confidence. By addressing
these training needs, policymakers and stakeholders can support the long-term success and
sustainability of women-owned businesses in Solwezi, contributing to broader economic
development and gender equality in the entrepreneurial landscape (Akpuokwe, Chikwe &
Eneh, 2024).

5.4 Access to Market

The findings on access to markets for women-owned businesses in Solwezi highlight the
significant role that market reach plays in driving business success and growth. Participants
such as SBW8, SBW12, and SBW20 emphasized that expanding market access has led to
increased sales revenue, enhanced brand recognition, optimized supply chain operations, and
broader strategic partnerships. This aligns with the literature, which underscores that access to
diverse markets can enhance profitability and business expansion opportunities (Mer & Virdi,
2024). Specifically, SBW8 noted that reaching a larger customer base domestically and
internationally resulted in higher demand and profitability, while SBW12 highlighted the
benefits of enhanced brand recognition and credibility through market diversification (Ekechi
et al., 2024). SBW20's experience with supply chain optimization through diversified sourcing
further supports the literature's assertion that market access can lead to cost reductions and
improved product quality (Akpuokwe, Chikwe & Eneh, 2024).

Interviews with participants A, B, and C provided additional insights into the benefits of
market access. Participant A discussed how market diversification mitigated risks associated
with dependency on a single market and provided stability during economic downturns,
aligning with the literature that emphasizes the importance of a diversified customer base for
business resilience (Mer & Virdi, 2024). Participant B noted that expanding into new markets

59
provided valuable market intelligence, driving innovation and competitiveness. This finding is
consistent with the literature that highlights the role of market insights in fostering continuous
improvement and growth (Akpuokwe, Chikwe & Eneh, 2024). Participant C mentioned that
market access attracted potential investors and financing opportunities, which aligns with the
assertion that demonstrating success in multiple markets can increase investor confidence
(Ekechi et al., 2024).

Focus group discussions further highlighted the economic and social benefits of market
access. Participants noted that entering diverse markets contributed to economic growth and
job creation, leading to increased production capacity and the establishment of new production
facilities. This ripple effect on local communities aligns with the literature that emphasizes the
broader economic development benefits of market access (Mer & Virdi, 2024). Additionally,
focus group participants discussed the challenges of accessing new markets, such as
regulatory barriers, cultural differences, and competitive pressures. These challenges drove
businesses to develop robust adaptation strategies, which strengthened their adaptability and
strategic planning capabilities, further supporting the literature's emphasis on the importance
of strategic adaptation in new markets (Akpuokwe, Chikwe & Eneh, 2024).

Moreover, FDG3 highlighted the importance of sustainable business practices in global

markets. Entering markets with strict environmental and ethical standards encouraged
businesses to adopt sustainable production methods, reduce waste, and implement corporate
social responsibility initiatives. This finding aligns with the literature that suggests sustainable
practices can enhance business reputation and attract environmentally conscious consumers
(Ekechi et al., 2024).

5.5 Technological Advancement

The findings on technological advancement among women-owned businesses in Solwezi
reveal a mixed response towards the impact of technology on business operations. Out of 50
participants, 27 expressed that technology has positively streamlined inventory management
and expanded their customer base through online marketing, while 23 expressed negative
concerns, indicating a lack of appreciation for technology as a catalyst in business growth.
This divergence underscores the complexity of technology adoption in small businesses,
reflecting both its potential benefits and the barriers that hinder its effectiveness (Chuma,
2024). The positive responses highlight the advantages of digital tools in reducing errors,
simplifying financial management, and enhancing communication with suppliers and

60
customers, aligning with the broader literature on technology's role in improving business
efficiency and market reach (Akpuokwe, Chikwe & Eneh, 2024).

In focus group discussions, participants acknowledged that technology has revolutionized

their business operations, particularly through digital accounting software, social media
marketing, and improved communication. This aligns with the literature that suggests
technology adoption can enhance operational efficiency and reduce marketing costs
(Akpuokwe, Chikwe & Eneh, 2024). However, the negative responses point to significant
barriers, such as high costs, limited infrastructure, and lack of technical knowledge, which are
common challenges in developing countries (Ekechi et al., 2024). These challenges emphasize
the need for targeted interventions to support technology adoption among women
entrepreneurs, including training programs and financial support to bridge the gap in
technological literacy and access (Chuma, 2024).

The regulatory environment in Solwezi also plays a critical role in shaping business growth
and technology adoption. Participants noted that the complex and frequently changing
regulations create uncertainty and hinder small business growth. This observation is consistent
with the literature, which highlights that regulatory challenges can divert resources from
business development to compliance, thereby stifling innovation and growth (Akpuokwe,
Chikwe & Eneh, 2024). Access to affordable finance, skilled labor shortages, and frequent
power outages were identified as additional challenges. These issues further compound the
difficulties faced by women-owned businesses, limiting their ability to maintain high
standards of service and product quality (Akpuokwe, Chikwe & Eneh, 2024).

To improve the performance of women-owned businesses in Solwezi, participants suggested

several strategies. Improving access to finance through micro-loans or grants, providing
mentorship programs, and offering business training can help women develop the skills
needed to manage and grow their businesses. Creating networking opportunities to connect
women entrepreneurs with larger markets and potential partners was also recommended.
These strategies align with the literature, which emphasizes the importance of tailored support
programs to enhance business performance and growth (Ekechi et al., 2024). Additionally,
strengthening the enforcement of supportive government policies and increasing awareness
through community outreach can enhance their impact, ensuring that women entrepreneurs
receive the intended benefits (Akpuokwe, Chikwe & Eneh, 2024).

61
The role of technology adoption in business performance is further influenced by the
availability of technical support and maintenance services. Without adequate support systems,
businesses may struggle to troubleshoot technical issues and maintain their equipment,
limiting the potential benefits of new technologies (Akpuokwe, Chikwe & Eneh, 2024).
Strengthening the technology ecosystem in Solwezi by providing necessary resources and
support can help women entrepreneurs overcome barriers to technology adoption, driving
business performance and growth. Furthermore, a conducive regulatory framework that
promotes innovation and supports technology infrastructure is crucial for incentivizing
technology adoption. Conversely, restrictive regulations and high import tariffs on technology
products can impede technology adoption and hinder the growth of women-owned businesses
(Akpuokwe, Chikwe & Eneh, 2024).

5.6 Application of the theory

The study findings on the performance of women-owned businesses in Solwezi can be
effectively analyzed and explained using the Resource-Based View (RBV) theory and the
social capital theory. The RBV theory posits that a firm’s unique resources and capabilities are
critical to achieving and sustaining a competitive advantage. In the context of Solwezi, the
findings highlighted that women entrepreneurs face significant challenges related to access to
finance, skilled labor, and consistent electricity supply. These challenges underscore the
importance of resource heterogeneity and immobility, as women-owned businesses with better
access to valuable and rare resources such as financial support and skilled labor are more
likely to outperform those without such advantages. For instance, participants suggested that
access to micro-loans and mentorship programs could enhance their business skills and
strategic decision-making abilities, which aligns with RBV’s emphasis on the role of valuable
resources in improving business performance (Barney, 1991). Additionally, the positive
impact of technological adoption on business operations, as evidenced by participants who
utilized digital tools for inventory management and online marketing, further illustrates how
leveraging unique resources and capabilities can drive competitive advantage and business
growth in line with RBV theory (Penrose, 2009).

The social capital theory provides a complementary perspective by emphasizing the role of
social relationships and networks in business success. The study findings revealed that strong
social ties and networks within the community significantly influence the performance of
women-owned businesses in Solwezi. For example, participants noted that building networks
with other business owners, government officials, and community leaders provided them with

62
valuable information, resources, and opportunities. This aligns with the social capital theory's
assertion that social networks enable collective action and facilitate access to critical resources
(Burt, 1992). Additionally, the findings highlighted that trust and reciprocity within these
networks fostered a supportive business environment, which is consistent with the theory’s
emphasis on the importance of social norms in enhancing business performance. By
examining the social capital of women entrepreneurs in Solwezi, the study uncovered the
ways in which their social networks influenced their business operations, such as improving
access to customers and suppliers, and providing a platform for sharing innovative ideas and
best practices. This application of social capital theory demonstrates how leveraging social
relationships and networks can enhance the operational efficiency and growth potential of
women-owned businesses in Solwezi.

5.7 summary of the chapter

Chapter Five provides a comprehensive discussion and analysis of the findings on the factors
influencing the performance of women-owned businesses in Solwezi. The study examines
demographic characteristics, access to finance, business skills and training, market access,
technological adoption, and the regulatory environment. Key findings reveal a diverse age
distribution among entrepreneurs, with most having secondary education or lower, and
significant challenges in accessing finance due to stringent requirements and high-interest
rates. Market access positively impacted sales and diversification, while technology adoption
showed mixed effects. The regulatory environment was often a hindrance to business growth.
Recommendations include targeted financial support, mentorship programs, improved
policies, and addressing infrastructure challenges. The study's findings align with existing
literature on the subject, highlighting gaps that inform relevant recommendations. The
analysis is framed using the Resource-Based View (RBV) theory and social capital theory,
illustrating the importance of unique resources and social networks in driving business
success.

63
CHAPTER SIX: CONCLUSION AND RECOMMENDATIONS

6.0 Introduction
This chapter summarizes the study findings highlighted the in the previous chapter and brings
out the recommendations of the study.

6.1 Conclusion
In conclusion, the study on factors influencing the performance of women-owned businesses
in Solwezi, Zambia, reveals a multifaceted landscape shaped by demographic characteristics,
access to finance, business skills and training, market access, technological adoption, and the
regulatory environment. The demographic data indicate a strong presence of young and
middle-aged women entrepreneurs, most of whom have secondary education or lower. The
challenges of accessing finance include high-interest rates, lack of collateral, and gender bias,
while business skills and training show significant gaps in availability and accessibility.
Market access emerges as a crucial driver for business success, enabling higher sales and
diversification. Technological adoption presents a mixed impact, with benefits in operational
efficiency countered by barriers like high costs and limited infrastructure. The regulatory
environment often poses hurdles to business growth, necessitating supportive policies and
infrastructure improvements. These findings highlight the need for targeted interventions to
address the unique challenges faced by women entrepreneurs, emphasizing the importance of
financial support, training, market access, and technology adoption for sustainable business
development.

6.2 Recommendations
6.2.1 Recommendations for the Current Study
Enhance Access to Finance: Develop and implement micro-loan programs specifically
tailored for women entrepreneurs, with lower interest rates and flexible collateral
requirements. Financial literacy programs should accompany these loans to help women
understand loan terms and manage repayments effectively.

64
Collaborate with financial institutions to create gender-sensitive financing policies that
address the unique needs and challenges of women-owned businesses.

Expand Business Skills and Training Programs: Establish comprehensive training

programs that cover essential business management skills, such as financial management,
marketing, leadership, and digital literacy. These programs should be accessible to women
entrepreneurs of all educational backgrounds. Encourage mentorship and coaching programs
where experienced business professionals can guide women entrepreneurs, offering practical
advice and support.

Improve Market Access: Facilitate networking opportunities and trade fairs that connect
women entrepreneurs with larger markets, potential partners, and investors. These platforms
can help women expand their customer base and enhance brand recognition. Support
initiatives that promote local and international market access, including e-commerce platforms
and export facilitation programs.

Support Technological Adoption: Provide subsidies or grants for the acquisition of digital
tools and technologies that can improve business operations. Training programs should also be
offered to enhance technological literacy and skills. Develop and strengthen the technology
infrastructure in Solwezi, ensuring reliable internet access and technical support services to
help women entrepreneurs integrate technology into their businesses effectively.

Create a Supportive Regulatory Environment: Advocate for regulatory reforms that

simplify business registration processes, reduce bureaucratic hurdles, and provide a stable
policy environment. Policies should be designed to support small businesses and promote
gender equality in entrepreneurship. Engage with local and national government bodies to
ensure that infrastructure challenges, such as power outages, are addressed to create a
conducive environment for business growth.

6.2.2 Recommendation for Future Research

Longitudinal Studies on Business Performance: Conduct longitudinal studies to track the
long-term performance and sustainability of women-owned businesses in Solwezi. This
research should explore the evolving challenges and opportunities faced by these businesses
over time, providing deeper insights into the impact of various interventions and policies.
Such studies can help identify best practices and inform the development of more effective
support programs for women entrepreneurs in Zambia and similar contexts.

65
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 APPENDICES

Appendix I: Consent Form

Title: Factors Influencing the Performance of Small Businesses: A Case Study of Women
Owned Businesses in Solwezi.

Introduction

You are being invited to participate in a research study that aims Factors Influencing the Perfo
rmance of Small Businesses: A Case Study of Women Owned Businesses in Solwezi. The
study will involve interviews with business woman who have experience in business in
Solwezi district. Your participation in this study is entirely voluntary, and you are free to
decline to participate at any time. If you choose to participate, you will be asked to provide
informed consent.

Purpose

The purpose of the study is to explore the factors influencing the performance of small busines
ses of women owned businesses in Solwezi. The findings of this study will help improve the
performance of small businesses of women owned businesses in Solwezi.

Procedures

If you choose to participate in the study, you will be asked to provide information about your
experience or knowledge of factors influencing the performance of small businesses of women
owned businesses in Solwezi. The information will be collected through an interview
conducted in a private setting. The interview will be audio-recorded to ensure accuracy and
will last approximately 30-60 minutes. Your personal information and any identifying details
will be kept confidential.

Benefits

72
Participation in this study will help to contribute to knowledge about the factors influencing th
e performance of small businesses of women owned businesses in Solwezi. The findings of
this study will help to inform policies and interventions to improve performance of small
businesses of women owned businesses in Solwezi.

Risks

There are no foreseeable risks associated with participating in this study. However, if you feel
uncomfortable answering any of the questions, you have the right to decline or skip them.

Confidentiality

All information collected in this study will be kept strictly confidential. Your personal
information will be kept separate from the research data, and all data will be stored in a secure
location. Only the research team will have access to the data collected. The data collected will
be presented in aggregate form, and your identity will not be disclosed.

Voluntary Participation

Your participation in this study is voluntary, and you have the right to decline to participate at
any time. You can also choose to skip any questions that you do not want to answer. If you
decide to withdraw from the study, your data will be destroyed.

Contact Information

If you have any questions or concerns about the study, you can contact the researcher CHITA
LU MUKOSHA at MULUNGUSHI UNIVERSITY

Consent

I have read and understood the above information, and I freely consent to participate in this
study.

NAME: CHITALU MUKOSHA

Signature: ________________________________

Date: ____________________________________

73
Appendix II: Questionnaire:
Topic: Factors Influencing the Performance of Small Businesses: A Case Study of Women
Owned Businesses in Solwezi.

Dear Participant,

Thank you for taking the time to participate in this research study focused on understanding
the factors influencing the performance of small businesses, with a specific focus on women-
owned businesses in Solwezi, Zambia. Your insights and experiences are invaluable in
contributing to our understanding of the challenges and opportunities faced by women
entrepreneurs in the region. This questionnaire is designed to gather information regarding
various aspects of your business and the factors that impact its performance. Your responses
will remain confidential, and the data collected will be used solely for research purposes.

Please answer the following questions to the best of your knowledge and experience. If any
question does not apply to your business or you prefer not to answer, feel free to skip it. Your
participation is voluntary, and you may withdraw from the survey at any time.

Section 1: Demographic Information

1. What is your age?

o A. Below 25 years

o B. 25-35 years

o C. 36-45 years

o D. 46-55 years

o E. Above 55 years

2. What is your educational qualification?

o A. Primary education

o B. Secondary education

74
 o C. Diploma

o D. Bachelor's degree

o E. Master's degree or higher

3. How long have you been operating your business?

o A. Less than 1 year

o B. 1-3 years

o C. 4-6 years

o D. 7-10 years

o E. More than 10 years

4. What industry does your business operate in?

o A. Retail

o B. Services (e.g., consulting, cleaning, etc.)

o C. Manufacturing

o D. Hospitality (e.g., restaurants, hotels, etc.)

o E. Other (please specify) _______________

Section 2: Access to Finance

5. What challenges do you face in accessing finance for your business?

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

6. How has access to finance influenced the performance of your business?

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

75
Section 3: Business Skills and Training

7. Have you received any business skills training?

o A. Yes

o B. No

8. If yes, how has business skills training impacted your business performance?

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

9. What additional training or skills do you think would benefit your business?

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

Section 4: Access to Markets

10. Have you faced difficulties in accessing markets for your products/services?

o A. Yes

o B. No

11. If yes, please describe the difficulties you have encountered.

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

12. How has access to markets influenced your business performance?

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

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Section 5: Technology Adoption

13. Do you believe technological advancements have positively impacted your business
operations?

o A. Yes

o B. No

o C. Not sure

14. If yes, please explain how technology has influenced your business performance.

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

Section 6: General Business Environment

15. Do you think the regulatory environment supports or hinders small business growth?
Explain your answer.

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

16. How would you rate the support services available to women-owned businesses in
Solwezi?

o A. Excellent

o B. Good

o C. Average

o D. Poor

o E. Very poor

17. What are the main challenges you have encountered in running your business?

o .....................................................................................................................

77
 o .....................................................................................................................

o .....................................................................................................................

18. In your opinion, what strategies can be implemented to improve the performance of
women-owned businesses in Solwezi?

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

19. How do you perceive the role of government policies in promoting entrepreneurship
among women in Solwezi?

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

20. What additional support or resources do you think would benefit women entrepreneurs
in Solwezi?

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

o .....................................................................................................................

Thank you for your participation.

Appendix III: Gantt Chart

Task Month 1 Month 2 Month 3 Month 4 Month 5

78
Literature Review ✓ ✓

Research Proposal ✓ ✓

Data Collection ✓ ✓

Data Analysis ✓ ✓

Writing Draft ✓ ✓

Revision and editing ✓

Appendix IV: Budget

Expense Description Cost (K)

Research Materials 500

Travel Expenses 1,000

Data Collection Tools 300

Printing/Binding 400

Miscellaneous Expenses 300

Total 2,500

79