Role of women entrepreneurs in establishing a “sustainable development in Sri Lanka

Abstract

Given its potential to spur economic growth, advance gender equality, inspire innovation, have a positive social impact, and support diversity and inclusivity, women's entrepreneurship is an important field of research and practice. Women entrepreneurs contribute significantly to the growth of the economy by generating money, boosting productivity, and creating new jobs. Women's entrepreneurship therefore can empower individuals, improve rura! women, and address other societal issues. To achieve sustainablc development, women entrepreneurs can be well-positioned to play a significant role in promoting sustainable practices in the economy, social system, and ecosystem. In this study, it is examined how social, economic, and environmental practices are modified in business operations to influence the role of female entrepreneurs in sustainable development. Two hundred and fifty women entrepreneurs were chosen as the sample for this study, which is followed by a descriptive research study. Investigation of study variables was extended, using interviews also as a research instrument. The researcher's conclusion for the study by noting that women's entrepreneurship has a strong impact on the economy and development and how it can help developing countries advance sustainable business practices. Presently women are participating in entrepreneurship on a larger scale than in the past. They better educated and are knowledgeable about the subject. In an effort towards sustainable development, they currently facing a new set of obstacles. These businesses are economically sound, environmentally friendly, and socially responsible, which helps them in achieving their objectives. These companies emphasize doing business with the underprivileged, assisting the community to develop of skills and abilities, paying fair prices and receiving fair payments, supporting fair treatment of all employees, and promoting environmentally responsible business practices.