Women Entrepreneurship: A Theoretical and Policy-Oriented Perspective on Inclusive Economic Development

The growing importance of women entrepreneurship in the academic, policy, and development discourse is linked to its high contribution to economic growth, creation of employment, and inclusion within the society. Theoretically speaking, the female entrepreneurship overlaps with several different frameworks, such as the theory of human capital, feminist economics, and institutional theory, which can all be used to interpret gender-based entrepreneurship participation. Although, there is an increased focus on policies and encouragement on the topic of women entrepreneurs, women entrepreneurs are still facing systemic obstacles in access to finance, education, markets, and institutional support. The article is based on the theoretical and policy-grounded perspective to investigate women entrepreneurship as a tool of inclusive and sustainable development. The current paper relies on developed theories and policy literature to analyse the structural factors influencing the entrepreneurial activity of women and determine how the public policy, the institutional structure, and the process of governance could facilitate or inhibit the development of women-led businesses. The article also emphasizes the necessity of gender responsive entrepreneurial ecosystems and coordinated policy interventions covering both economic as well as the socio-cultural aspects. This article, by combination of theoretical knowledge and policy implications, adds to the knowledge about women entrepreneurship as a not a personal economic action, but a developmental and institutional phenomenon.