Strategic Tactics for Sustainable Business Performance in Women Entrepreneur-Led Enterprises: A Multivariate Analysis

Abstract

Regarding social and financial sustainability, it seems to surpass asserting that female entrepreneurs in the Virudhunagar district fall short of male entrepreneurs. Over 60% of all firms in the Virudhunagar district are held and managed by women, according to research; however, this is still a small percentage in contrast to the proportion of women in the entire nation. The number of women starting new Small and Medium-Sized Enterprises has expanded dramatically over the previous several years, which has a grip on leadership and socioeconomic conditions both at work and at home. Therefore, this research aim is to determine the strategic tactics aspects and investigate the causal relationship between strategic tactics and sustainable business performance. This causal investigation study's primary data originated from female entrepreneurs running small and medium-sized businesses (SMEs). The study chosen 310 female SME business owners for interviews using combined non-probability and probability sampling techniques.  Structural Equation Modeling (SEM) and Exploratory Factor Analysis (EFA) were adopted to inspect the data. The findings demonstrate that Sustainable Business Performance is directly and substantially impacted by elements associated with women's entrepreneurship development, such as digital business tactics, human resources tactics, and innovation tactics in women's enterprises. Strategic tactics like social and financial sustainability emerged among female entrepreneurs due to the growth of business in the SME sector. In pursuit of boosting women's business involvement and promoting the sustainable development of Virudhunagar district, this study confirms that policymakers in this sector prioritise digital business, human resources, and innovative methods when creating SME policies.