It is quite often argued that most women in developing countries possess abilities which are believed to be contradictory to the standards required to take charge of a business organization in any industry. They are considered to be more compliant and unselfish unlike their male equivalents in the business world who tend to be more fierce and hostile. Such women are said to be more affectionate, which in turn, is overlooked and shows that they are inactive. Even though studies indicate the increasing momentum at which many women in developing countries are establishing their own businesses is quite remarkable, it can also be seen that women entrepreneurial activities are still quite consistently lower when compared to those carried out by their male counterparts. The approach made by many women in developing countries is influenced by their ethnic customs, the concepts of their religion, the amount of training received and their ability to cope with gender bias.
Most women residing in developing countries are not even being treated properly in accordance to basic human rights, leaving their treatment in the business world worse off. The sexism implanted within the boundaries of the society restricts numerous women to approach and initiate their own activities as the entrepreneur of their own business. The area of study pursued by both men and women is done in accordance to the views of their respective cultures and the perspective of the society, according to which women are assumed to play supportive roles in an organization. In addition, the shortage of idols for women entrepreneurs in developing countries and being looked down upon by their male counterparts in their workspaces give inadequate amount of courage to women to start up their own business ventures and face further challenges, making them discontinue their career in the business world permanently. Examples of such cases occur in Japan and Malaysia, where the social attitude and norms of their respective cultures limit the advancement of innumerable women in contributing towards the economy.
In many cases, the principles of religion have restricted the activities carried out by many women entrepreneurs in developing countries. The activities carried out by most women entrepreneurs are highly determined by religion, in most cases the principles being followed belonging to the religion of Islam or Confucianism. The use of Confucianism by women entrepreneurs can be seen in Vietnam, where the women are characterized to maintain social ties and a high regard for their folklore while making sure to have a perception of shame. Another example of this appears in Thailand, where the principles of Buddhism are followed and according to one of its concepts, men are assumed to take the top positions in business organizations. Even after laws have been implemented in the Thai constitution, an innumerable number of women face discrimination in their particular workspaces. On the other hand, following principles of one’s religion has helped quite a few women advance towards building and running a successful business on their own. Most women in Malaysia gain the qualities of self-confidence and believe that every man and women should attempt to be triumphant in achieving their goals by following the principles of Islam.
The cultural traditions women in developing countries have to comply within their respective countries have a significant effect on their social lives, almost disabling them to carry out activities required to start up and manage their own businesses. One of the examples regarding the matter is visible in Thailand, where most women are assumed to take up the traditional roles of a housewife rather than strive to prosper on their own in the business world. Most women in Turkey are also tied by responsibilities of their social life and their household due to the culture followed by most of the populace in Turkey. Moreover, it is considered that most women residing in Turkey are considered to be dependent on men. Business organizations run by women entrepreneurs in developing countries are more unlikely to face difficulties if located in urban cities as most women residing in rural areas are affected by the tradition followed by the population to a greater extent when compared to women inhabiting in urban areas.
Most women entrepreneurs often lack the resources or the skillset required to run a business organization and as a result, they are not able to raise sufficient amounts of finance to initiate their business. In developing countries, most women do not receive an adequate amount of training and are able to offer only a meager amount of human capital when starting up an organization on their own. On the other hand, banks and other financial institutions do not deem most women entrepreneurs in developing countries worthy to be invested in with the same amount of finances which are usually allocated to male entrepreneurs in the same industry. It is required by law for women in the Middle East to obtain a signature from their husband or their father when taking out a loan from any financial institution, which further shows how such institutions are reluctant to lend money to most women. These financial barriers lead to the business organizations established by women entrepreneurs in developing countries to be under-capitalized, making it quite difficult for such businesses to prosper according to their potential.
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