Factors Affecting Business Performance of Women-Owned Small and Medium Enterprises in Vietnam: The Mediating Role of Entrepreneurial Orientation

Abstract

The present study aims to identify and evaluate the factors affecting the business performance of women-owned small and medium enterprises in Vietnam and to examine the mediating role of entrepreneurial orientation in the relationship between independent variables (Human capital, financial capital, social capital) and business performance of enterprises. To achieve the research objectives, the author surveyed 800 female owners of small and medium enterprises in Vietnam using a 5-point Likert scale survey through online (Google Forms) and direct (paper) surveys. The data collected from the study were analyzed using Smart PLS4 software. The research results showed that Human capital, financial capital, and social capital not only directly affect business performance but also indirectly affect business performance through entrepreneurial orientation. From the research results, the author proposes implications for promoting the business performance of women-owned small and medium enterprises in Vietnam in the future.