Financial availability and government support for women entrepreneurs in transitional economies

Abstract

Purpose -This paper studies female entrepreneurship in two post-Soviet countries -Russia and Ukraine. Employing institutional theory, the research aims to investigate the entrepreneurial environment, particularly government support programmes and the availability of financial resources, with a focus on women entrepreneurs. Design/methodology/approach -This research is a qualitative investigation that comprises 60 interviews with Russian and Ukrainian entrepreneurs, bank officers and representatives of government organisations supporting the development of entrepreneurship. Findings -The investigation provides evidence that these countries have overcome the transition from a command to a market economy and local people are gradually adjusting to the new environment. Concentrating on macro/meso and money elements from the 5M model suggested by Brush et al., the authors suggest an additional construct -"motherland" -to embed a context in a new model. Research limitations/implications -Only two factors of Brush et al.'s 5M model were considered -i.e. macro/meso environment and money (availability of financial resources). Discussion of management, marketing and motherhood is beyond the scope of the present paper. Practical implications -The study reveals a broad range of managerial information and empirical data on the development of female entrepreneurship in contemporary Russia and Ukraine. The findings are helpful for policymakers engaged with these two countries. Originality/value -The study is an attempt to capture the context dependency of research on female entrepreneurs, and suggests a new dimension for inclusion in Brush et al.'s 5M model -"motherland".

The Effect of Business Environment and Entrepreneurs’ Gender on Perception of Financial Risk in The Smes Sector

“…Also according to Iakovleva, Solesvik and Trifilova (2013) there are no gender differences in bank financing found in Russia and Ukraine. Authors found that being a woman is not a disadvantage to get bank loans; both men and women are getting the same priority for bank finance.…”

“…The findings of the research of Iakovleva, Solesvik and Trifilova (2013) find that in Russia and Ukraine most of the women entrepreneurs in both countries are not even aware of any kind of financial support from the government to start an enterprise. There are some entrepreneurs who were aware of the government support but they did not apply due to too much legislative regulations of the funds.…”

Women-owned family businesses in transitional economies: key influences on firm innovativeness and sustainability

“…Brush et al (2009) argued that motherhood or family/household contexts might have a larger impact on women than men, while Welter and Smallbone (2010) illustrated that this context might be very different depending on the country of operation. For example, in a recent study of entrepreneurial intentions in two developed and two developing countries, it was found that the highest barrier for starting a business is indeed risk related (Iakovleva et al 2013). However, that was not the case for developing countries, where risk barrier was ranked second or third.…”

“…Nearly 10 years later a new wave targeting small business began, and today banks offer a wide range of services, including loans, for the SME sector. However, the interest rate for loans is quite high, and many start-ups chose to use other, informal, sources of funding (Iakovleva et al 2013). Although few in number, there are programs to support entrepreneurs with venture capital, mortgages, or business incubation.…”

Equity Issuance and Corporate Dividend Policy in Emerging Economy Context

“…Additional share issuance can be a source of significant amount of resources for enterprise development [Iakovleva et al 2013, Solesvik 2012, Sonenshein 2014. Equity issuance and corporate dividend policy should meet the interests of shareholders, including minority ones, and create conditions for sustainable corporate development.…”