Factors Affecting Business Performance of Women-Owned Small and Medium Enterprises in Vietnam: A Quantitative Study

This paper explores the key factors influencing the business performance of enterprises, specifically women-owned small and medium enterprises (SMEs) in Vietnam. The extant literature on factors affecting the business performance of women-owned SMEs in Vietnam is still quite scarce. The researchers used a self-administered questionnaire to achieve a sample of 265 female SME owners in Vietnam to find these factors. The obtained data was analyzed by using SPSS 20.0. Cronbach’s α test and factor analysis have been carried out to test the reliability of data and validate the hypothesis. The results showed that these enterprises’ performances had a significant positive relationship with the business management competencies of the directors of the business, quality of human resources, financial access, socio-cultural factors, and government policy. Also, the study showed no relationship between the enterprise’s business network and business performance. The results suggest that female business owners should improve their business management capacity, focusing on training activities to improve the quality of human resources of enterprises. The Government needs policies to support small and medium enterprises in accessing financial and other resources and propagate to reduce gender stereotypes.