INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,  
MANAGEMENT & APPLIED SCIENCE (IJLTEMAS)  
ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIV, Issue XI, November 2025  
Interlinking Economic, Familial, and Personal Dynamics in Shaping  
Women’s Entrepreneurship: A Statistical Study from Madhya  
Pradesh  
Ms. Nickita Manglani  
Barkatullah University  
DOI: https://doi.org/10.51583/IJLTEMAS.2025.1411000035  
Received: 21 November 2025; Accepted: 28 November 2025; Published: 04 December 2025  
ABSTRACT  
This study delves at the intents and ability of women business owners from Madhya Pradesh to launch their  
own firms while juggling job and family responsibilities. Indore, Bhopal, and Jabalpur, the three largest  
entrepreneurial centres in the state, were evaluated using a standardised 5-point Likert scale questionnaire.  
Three hundred and fifty female business owners took part. Both descriptive and inferential statistics were  
conducted using SPSS 21 in this study. We used reliability, factor, correlation, and one-way ANOVA as our  
descriptive statistics. The statistical robustness of the instrument is shown by its outstanding sampling (KMO =  
0.929; Bartlett's Test p < 0.001) and great internal consistency (Cronbach's Alpha = 0.942). Improving women-  
led enterprises requires empowering women financially, since work-life balance and entrepreneurial drive are  
greatly influenced by economic factors (F = 61.23, p < 0.001; r = 0.456). Individual and vocational  
characteristics, as opposed to family variables, have a greater impact on self-regulation and adaptation.  
Women report higher levels of happiness and success when they are financially independent and have the  
support of their families. The results of this research provide credence to a model that attempts to explain the  
effects of familial and socioeconomic factors on the entrepreneurial success of women in regional markets. For  
the benefit of women entrepreneurs in Madhya Pradesh, policymakers should encourage the formation of  
family networks, simplify the process of taking out loans, and highlight the importance of personal finance.  
Keywords: Women entrepreneurship, work-life balance, motivation, economic factors, factor analysis.  
INTRODUCTION  
Indian women who wish to start their own businesses have revolutionised the country's social and economic  
structure by encouraging new ideas, development that benefits everyone, and new jobs. Businesses established  
by women in Madhya Pradesh help the economy grow. Businesses rely on them to adhere to societal  
standards. Women become more autonomous when they start their own businesses (Ahl, 2006; Brush et al.,  
2009). New gender norms demonstrate that more women are in favour of living in a way that is good for the  
environment. This research looks at how professional connections, familial support, financial independence,  
and personal goals affect women business owners in Madhya Pradesh. Indian women entrepreneurs face  
societal norms, outdated infrastructure, cultural prejudices, and financial challenges (Tambunan, 2009; Roomi  
& Parrott, 2008). Women face these challenges and are unable to start their own enterprises, even if they can  
become entrepreneurs. Companies in Indore, Bhopal, and Jabalpur, which are rising quickly as industrial hubs  
in Madhya Pradesh, have a lot of opportunities and hazards. Women entrepreneurs still have trouble getting  
money and technology, even while industrial policies favour small and medium-sized businesses (Dhameja,  
2002; Meenu & Kaur, 2019). The state's micro and small industrial sector shows that women are eager to start  
their own businesses.  
Psychological motivation, socioeconomic empowerment, and contextual influences are ideas that women  
entrepreneurs consider (Minniti & Naudé, 2010). Women are either "pulled" into business by opportunities and  
desires or "pushed" into it by economic pressures or unemployment, according to the push-pull theory  
(Hughes, 2003; Kirkwood, 2009). This is true in Madhya Pradesh as well. Women in semi-urban areas are  
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ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIV, Issue XI, November 2025  
more likely to be entrepreneurs due to economic need, but in metropolitan areas like Indore, women are more  
likely to be entrepreneurs due to opportunity identification and personal pleasure. The harmony of these factors  
determines the fate of their company (Gartner, 1985). The conceptual organisation of this study is shown in  
Figure 1. The picture depicts the mediating construct of entrepreneurial well-being, work-life balance, as well  
as four independent constructs: personal qualities, work-related variables, family-related factors, and economic  
concerns. Time management, financial independence, family collaboration, and stress from business all play a  
role in determining whether or not women in a state are willing to start their own businesses.  
Figure 1: Model Consideration of Aspects Affecting Women Entrepreneurship (Author’s Own Creation)  
Figure 1 above indicates that self-confidence, leadership, and health knowledge affect how well a person can  
set and reach objectives (Hisrich & Peters, 2002). External occupational characteristics include workload,  
autonomy, and organisational flexibility (Buttner & Moore, 1997). A person's family has an impact on their  
mental and practical health (Jennings & McDougald, 2007). Brush et al. (2019) say that economic variables  
including savings, market possibilities, and the availability of capital have an effect on a company's capacity to  
develop and stay in business. All of these factors make up the atmosphere for women entrepreneurs. This  
paradigm is different because of the industrial setting in Madhya Pradesh. Indore, the "commercial capital" of  
the state, has a lot of opportunities for women to start businesses since it has a lot of IT and industrial jobs  
(MSME Report, 2023). Bhopal and Jabalpur are not as industrialised as other cities, but there are more food  
processing, tailoring, and educational businesses managed by women. Sexist attitudes, insufficient resources,  
and outdated infrastructure continue to provide challenges (Kantor, 2001; Jayachandran, 2021).  
Culture has a big effect on women who start their own businesses. Parasuraman and Simmers (2001) found  
that Indian women experienced problems between their two roles since society wanted them to focus on their  
domestic tasks. Studies indicate that familial support aids female entrepreneurs in alleviating domestic stress  
and sustaining an effective work-life equilibrium (Eddleston & Powell, 2008). Sharma (2018) asserts that the  
social and economic context of Madhya Pradesh influences the extent to which mixed family structures and  
strong community connections serve as obstacles or facilitators. The dual impact of family makes  
comprehension of familial issues essential. Financial accessibility is important as well. Studies show that  
women business owners have a hard time getting money (Singh, 2014; Tambunan, 2017). According to  
Leshpande and Sharma (2016), women are less likely to take part in MSME activities because they don't know  
how to manage their money, they don't know how to get loans, and there are legal problems. Regional  
inequalities remain notwithstanding Stand-Up India and MUDRA. (Nayyar, 2020). In Madhya Pradesh,  
knowledge and procedural complexity impede usage despite legal incentives (Panda, 2021). The correlation  
analysis in the research showed that financial stability and the availability of loans had the most effect on how  
much entrepreneurs like their work.  
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ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIV, Issue XI, November 2025  
It's important to get inspiration from inside. Deci and Ryan (2000) assert that women's need for autonomy,  
social validation, and societal impact propels entrepreneurship. Extrinsic incentives have less significance for  
women-led enterprises compared to intrinsic motivation, particularly self-fulfilment (Farr-Wharton &  
Brunetto, 2009). Motivation, family obligation, and societal approbation all have a role in how hard people  
work and how successful they are in Madhya Pradesh (Rao, 2022). Technology has changed how businesses  
start up. The internet economy helps women work from home and take care of their families (Nambisan,  
2017). Indore women who own businesses utilise e-commerce and social media marketing to get more clients,  
even if there are problems with the city's infrastructure. Digital inclusion enhances income, liberty, and self-  
esteem (Mishra & Kiran, 2021).  
This study seeks to clarify the connection between work-life balance and entrepreneurship. Work-life balance  
affects motivation, health, and productivity (Greenhaus & Beutell, 1985). The results of the analysis of  
variance (ANOVA) indicate that women with stable families and successful careers are satisfied with their  
work-life balance. Women who own businesses need their families to back them up and their money to remain  
steady. This study amalgamates economic, personal, familial, and professional perspectives to provide a  
thorough analysis of women entrepreneurs in Madhya Pradesh. This study addresses a significant gap in  
regional entrepreneurship research by providing a framework to assess prior research predictions.  
LITERATURE REVIEW  
Several persons have noted the significant role that women entrepreneurs play in promoting fair development,  
generating job opportunities, and reshaping the socioeconomic landscape of developing countries (Brush,  
1992; Minniti & Naudé, 2010). This is a significant group of people. According to Acs et al. (2011), micro,  
small, and medium-sized businesses, especially those that are managed by women, have the potential to reduce  
the gender gap and make a major contribution to the gross domestic product of developing nations like India.  
According to Romi and Parrott (2008), the route of entrepreneurship is often influenced by a wide variety of  
structural and psychological variables. These aspects include motivation, financial considerations, family  
duties, and the availability of social support. The purpose of this inquiry is to improve upon earlier studies by  
investigating the many elements that impact women entrepreneurs in Madhya Pradesh as well as the motives  
that drive them to make business decisions.  
Theoretical Foundations of Women Entrepreneurship  
To explore the phenomena surrounding female entrepreneurs, various theoretical frameworks have been  
employed. The Push-Pull Theory, initially introduced by Buttner and Moore in 1997 and subsequently  
expanded upon by Kirkwood in 2009, posits the existence of two distinct categories of incentives that serve to  
attract and retain entrepreneurs. Two categories of forces can be identified: push forces, which arise from  
essential conditions like unemployment or financial difficulties, and pull factors, which stem from aspirational  
opportunities such as the quest for independence, ambition, or the pursuit of recognition. In the semi-urban  
districts of Madhya Pradesh, one can observe a significant trend wherein women are progressively establishing  
their own enterprises. This movement is primarily driven by the challenges women face in securing  
employment and the necessity for financial resources. Women residing in urban areas are more inclined to  
pursue this opportunity, as they recognise a gap in the market and seek to address it. Becker's Human Capital  
Theory, introduced in 1975, posits that for an entrepreneur to attain success, it is essential to possess a specific  
array of education, skills, and experience. At this juncture, rural women find themselves lacking these  
resources. Fischer et al. (1993) articulate that the Social Feminist Theory posits that women's entrepreneurial  
endeavours are shaped by diverse, gender-specific forms of socialisation. The actions under consideration are  
significantly shaped by inherent empathy, a tendency to participate in communal activities, and the prevailing  
societal norms.  
Personal Factors Influencing Women's Entrepreneurship  
Hisrich and Peters (2002) and Gundry and Welsch (2001) found that women's self-confidence, drive, risk  
tolerance, and leadership qualities significantly influence their entrepreneurial success. Jamali's (2009)  
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research indicates that women company owners with high self-efficacy exhibit improved problem-solving  
abilities in challenging situations. Intrinsic motivation is essential for the success of enterprises (Deci & Ryan,  
2000). This denotes the intrinsic motivation to produce personal concepts, attain individual objectives, and  
function autonomously. Nayyar's (2020) research in India demonstrates that cultural norms and the lack of  
strong role models influence women's motivation and self-esteem. Sinha (2003) posits that women can  
overcome their limitations and leverage business opportunities through the possession of psychological  
strength. In Madhya Pradesh, traits including self-confidence, determination, and flexibility demonstrate a  
notable correlation with entrepreneurial resilience (Kumar & Bansal, 2022). Women working from home  
frequently utilise innovative strategies for time management and multitasking to sustain productivity levels.  
The discussed attributes aid in stress management and improve multitasking abilities.  
Work-Related Factors  
The operational environment influencing women entrepreneurs is shaped by factors associated with their  
professional activities. Considerations encompass workload, independence, company adaptability, market  
penetration, and organisational culture (Brush et al., 2009). Women entrepreneurs frequently encounter  
challenges stemming from gender bias in the marketplace, disparities in technology access, and a lack of  
adequate support networks (Jennings & Brush, 2013). The degree of autonomy in the workplace correlates  
positively with the success of female entrepreneurs, both in the short and long term (DeMartino & Barbato,  
2003). The factors influencing labour dynamics have been shaped by the digital revolution. The emergence of  
internet business platforms has allowed women to broaden their audience reach and achieve increased control  
over their work schedules (Nambisan, 2017). Mishra and Kiran (2021) assert that women can overcome  
mobility barriers through the impact of e-commerce, online payment systems, and social media marketing.  
Numerous women entrepreneurs in Madhya Pradesh successfully operate their businesses via platforms such  
as Instagram, WhatsApp Business, and small-scale e-commerce, concurrently managing their domestic  
obligations. Despite these advancements, supply chain challenges, shortages in technical skills, and insufficient  
professional mentoring remain significant constraints on growth potential (Saxena, 2018). The challenges  
intensify stress and hinder time management, consequently impacting satisfaction with work-life balance.  
Family-Related Factors  
Family and friends' support markedly increases the success probability for women pursuing entrepreneurial  
endeavours (Brush, 1992; Eddleston & Powell, 2008). Spousal support, childcare responsibilities, and task  
distribution are essential components of family dynamics. Patriarchal institutions hinder women's workforce  
participation due to domestic responsibilities (Kantor, 2001). Evidence suggests that a supportive family  
environment may reduce anxiety and promote business success (Parasuraman & Simmers, 2001). In Indian  
culture, gender norms fulfil two specific roles within the household. In certain families, women encounter  
obstacles in taking risks as a result of compliance with conventional business practices. In contrast, some  
families provide both financial assistance and social support (Sharma, 2018). The inconsistency is especially  
prominent in Madhya Pradesh. Women entrepreneurs in urban settings experience enhanced familial support,  
which is linked to their higher educational attainment and greater exposure to diverse external contexts.  
Conversely, individuals in rural areas encounter persistent public scrutiny and criticism (Gupta and Malhotra,  
2020). Panda (2022) demonstrates that women business owners in Kerala and Gujarat benefit from increased  
schedule flexibility when living in mixed-family arrangements due to the shared household responsibilities. In  
Madhya Pradesh, specific familial characteristics indirectly motivate entrepreneurship, affecting the dynamics  
of work-life balance.  
Economic Factors  
Brush et al. (2019) argue that the primary motivation for establishing a firm is the augmentation of individual  
economic power. Singh (2014) and Tambunan (2017) demonstrate that women face significant obstacles in  
starting and growing businesses due to a lack of necessary financial resources, education, or stable income.  
Financial resources constitute only one aspect of economic considerations; autonomy, decision-making, and  
empowerment are also essential factors. Dhameja (2002) asserts that financial independence improves  
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motivation and self-confidence. Recurring challenges include inadequate collateral, gender bias in loan  
applications, and obstacles in budget formulation (Deshpande & Sharma, 2016). Procedural issues have  
obstructed women's access to Stand Up India and MUDRA in rural Madhya Pradesh, despite the programs'  
intent to mitigate these challenges (Panda, 2021). The research demonstrates that financial stability improves  
the mental and operational well-being of entrepreneurs, thereby aiding their management of professional and  
personal life, as shown by the analysis of variance (ANOVA). The Global Entrepreneurship Monitor (GEM,  
2022) indicates that women entrepreneurs in India are predominantly driven by opportunity rather than  
financial incentives, which corresponds with current initiatives aimed at improving access to funding. This  
type of research is crucial because regional economic disparities continue to persist.  
Work-Life Balance and Motivation  
WLB is a model of an atmosphere that successfully accomplishes the goal of striking a balance between one's  
personal life and professional endeavours. Work-life balance is defined by Greenhaus and Beutell (1985) as  
the degree to which one's professional responsibilities and family duties may coexist in a peaceful manner.  
According to Eddleston and Powell (2008), this balance has an impact not just on the level of personal  
pleasure that women entrepreneurs experience but also on the commercial success of their companies. Studies  
have shown that people who are skilled in time management, who keep their schedules flexible, and who  
engage with supportive networks are more likely to attain a better work-life balance and higher levels of  
motivation (Kossek et al., 2011). Work-life balance is substantially connected to economic features in Madhya  
Pradesh, according to the results of the correlation research. On the other hand, the study reveals that there is  
only a modest linkage between work-life balance and personal and work-related aspects. Specifically, this  
exemplifies the concept that having a solid financial foundation helps alleviate feelings of worry and enhance  
general well-being (Rao, 2022). Through the provision of both emotional and practical support, family  
cooperation has the potential to indirectly influence motivation (Jayachandran, 2021).  
Institutional and Socio-Cultural Context  
According to North (1990), the norms and structures that are already in place in society and institutions have a  
significant impact on the capacity of women to launch their own commercial enterprises. In spite of the fact  
that progressive legislation has been put into place, women's full involvement in India's economy is hindered  
by institutional impediments and pervasive gender stereotypes (Gupta et al., 2021). An aspect of Madhya  
Pradesh's industrial policy that is not commonly acknowledged is the fact that it offers assistance to small and  
medium-sized firms (SMEs) as well as businesses that are headed by women (MSME Report, 2023). Women  
have access to the tools they need to launch their own businesses via the provision of educational institutions,  
incubation centres, and self-help groups. Based on research conducted by Kabeer (2005) and Meenu and Kaur  
(2019), it has been shown that involvement in self-help groups leads to improvements in financial literacy, the  
expansion of social networks, and the promotion of collaborative abilities. Nevertheless, the growth of smaller  
towns continues to be hampered by a number of obstacles, such as poor digital literacy, a lack of mentoring,  
and cultural hurdles (Kumar & Bansal, 2022).  
Empirical Research on Women Entrepreneurship  
Quantitative methods, including factor analysis and structural equation modelling (SEM), have been employed  
to examine the factors influencing women's participation in entrepreneurial activities (Singh & Bala, 2022;  
Reddy & Tripathi, 2021). A significant body of literature underscores the importance of self-efficacy, financial  
stability, and support from close family members. Nonetheless, limited research has been conducted on  
Madhya Pradesh, a state that presents a unique environment for study due to the interplay of industrial and  
cultural factors. This research utilises methodology and data from reliable sources to empirically support these  
components, addressing the identified shortcoming. The factor analysis results are validated by Cronbach's  
alpha (.942) and KMO (.929), indicating an adequate sample size and robust internal consistency. A significant  
correlation (r = 0.456) exists between work-life balance and economic parameters, indicating a clear  
association between financial independence and the pleasure experienced by entrepreneurs. Research analysis  
indicates that women's inclination to engage in entrepreneurial activities is significantly influenced by various  
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ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIV, Issue XI, November 2025  
factors, including psychological, familial, economic, and cultural elements. There is a significant gap in  
research specifically addressing Madhya Pradesh, even though national studies have explored the subject of  
women's entrepreneurship. This study examines the relationships among personal, professional, family, and  
economic factors, aiming to elucidate their impact on motivation and overall well-being. This investigation  
relies on a conceptual framework derived from previously published research as its empirical foundation.  
Research Gap  
The study of women's entrepreneurship in India highlights national trends rather than regional variations. The  
academic study of women's entrepreneurship neglects the varied industrial context of Madhya Pradesh and the  
existing gender norms. Although financial resources, education, and social challenges have been studied  
(Brush et al., 2019; Panda, 2021), there is a lack of research on how personal, professional, familial, and  
economic factors affect women's work-life balance and entrepreneurial motivation. Research demonstrates that  
economic variables have a significant impact on work-life balance (F = 61.23, p < 0.001, η² = 0.236),  
indicating a strong positive correlation (r = 0.456). The relationship between personal and work-related  
qualities seems to be less interconnected, suggesting a tendency for adaptation rather than mutual influence.  
The values of Cronbach's Alpha (0.942) and KMO (0.929) confirm the data's adequacy. Regional studies  
frequently exhibit insufficient statistical validation, leading to a significant gap in research concerning  
women's entrepreneurship. The significance of familial support as a vital social mediator in attaining financial  
independence and sustaining work-life balance is inadequately examined. The entrepreneurial incentive model  
for women in Madhya Pradesh does not adequately incorporate psychological, familial, and economic factors.  
This research utilises factor analysis, ANOVA, and correlation models to validate the interconnections and  
provide a comprehensive statistical understanding of women's entrepreneurship within the economic and  
cultural context of the state.  
Research Objectives  
The goal is to assess the personal, job, familial, and economic issues that impact women's  
entrepreneurship in Madhya Pradesh.  
Examine the influence of these characteristics on work-life balance and entrepreneurial drive among  
women entrepreneurs.  
To study the association between economic empowerment and work-life satisfaction using ANOVA,  
correlation, and factor analysis.  
Research Questions  
What reasons, including personal, family, work-related, and economic aspects, motivate women  
entrepreneurs in Madhya Pradesh?  
What impact do these elements have on women entrepreneurs' work-life balance and company  
sustainability?  
Which element has the highest correlation with entrepreneurial drive and work-life balance?  
Hypotheses  
H1: Economic variables improve work-life balance for Madhya Pradesh women entrepreneurs statistically.  
H2: Social and emotional support from family moderates entrepreneurial drive.  
H3: Personal and work-related issues indirectly affect work-life balance via adaptive coping and self-  
management.  
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RESEARCH METHODOLOGY  
Research Design  
The purpose of this descriptive study is to identify the economic, psychological, and behavioural factors that  
impact women business owners in Madhya Pradesh. When use quantitative methods to systematically  
understand women entrepreneurs' perspectives, motives, and attitudes, descriptive design is a useful tool.  
Based on empirical data gathered via a standardised questionnaire, the study utilises a quantitative technique.  
With this method, you may utilise SPSS version 21's sophisticated statistical tools like factor analysis,  
ANOVA, and correlation analysis with confidence, and your results will be accurate and reproducible.  
Sampling Design  
Women business owners in Madhya Pradesh who run MSMEs: small, medium, and micro. Because women  
company owners tend to congregate in small groups, we had to resort to a hybrid sample strategy that included  
snowball and convenience sampling. From Bhopal, Indore, and Jabalpur, 350 valid replies were gathered from  
female entrepreneurs.  
Data Collection Method  
The 33 items that made up the primary data set were all rated on a 5-point Likert scale, with 1 being the most  
strongly disagreed with and 5 the most agree with the statement. The survey was structured with five parts that  
addressed different aspects of respondents' lives: themselves, their jobs, their families, the economy, and their  
work-life balance.  
Statistical Tools and Techniques  
The measuring scale was found to be reliable and consistent according to the reliability analysis. Using  
Sampling Adequacy Tests, we were able to group similar factors and discover underlying structures of  
women's entrepreneurial drive. Analysis of Correlation: Determined the Nature and Strength of Associations  
Between Research Variables. One-Way Analysis of variation (ANOVA): Economic considerations were  
shown to have the most significant influence on work-life balance when examining the variation between  
levels of each independent variable. Each domain of the factors was described by descriptive statistics, which  
included averages, standard deviations, and distributions of answers.  
Ethical Considerations  
It was a voluntary participation, and respondents were guaranteed that their responses would be kept  
anonymous. The only reason for which the data were utilised was for academic study. The identities of the  
respondents were protected to preserve the ethical clearance.  
RESULT & ANALYSIS  
This research aims to examine personal, work-related, family-related, and economic aspects in Madhya  
Pradesh to better understand the multiple forces that shape women's entrepreneurial drive. Tests for reliability,  
KMO and Bartlett's tests, descriptive statistics, analysis of variance, post hoc analysis, and correlation were all  
carried out using SPSS 21. First, we identified major contributing elements. Second, we examined their  
influence on work-life balance. Third, we evaluated the link between financial empowerment and  
entrepreneurial drive. These findings offer empirical basis for all three goals of the study. The associated  
research questions and hypotheses (H1-H3) have informed the interpretation of each analytical result.  
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Reliability of the Measurement Scale  
Cronbach’s Alpha  
N of Items  
0.942  
33  
Table 1: Test of Reliability Statistics Using SPSS 21 (Author’s Own Calculation)  
Testing the dependability of data-gathering instruments was the first step in the investigation. With a  
Cronbach's Alpha of 0.942 (Table 1), this 33-item survey assesses the economic, personal, work-related, and  
family-related challenges that influence women entrepreneurs. High reliability for statistical analysis is  
indicated by a Cronbach's Alpha score over 0.9, according to Nunnally (1978). This result lends credence to  
the study's methodology and the study's overarching goal of determining what factors significantly influence  
women business owners. This step is essential for the next research phase since it verifies that all variables are  
reasonable. The 350 female entrepreneurs polled had similar opinions on finances, family support, and work-  
life balance since it was a trustworthy survey. A high level of consensus among female business owners in  
Madhya Pradesh indicates that they all see the same problems impacting their companies. This demonstrates  
the difficulties faced by entrepreneurs in this field.  
Sampling Adequacy and Suitability for Factor Analysis  
KMO Measure  
Bartlett’s Test (χ²)  
df  
Sig.  
0.929  
8032.839  
528  
0.000  
Table 2: KMO and Bartlett's Sphericity Test (Author's Calculation)  
The Kaiser-Meyer-Olkin (KMO) score of 0.929 shows that the sampling was very good, which means that the  
data may be used for factor analysis. Bartlett's Test of Sphericity (χ² = 8032.839, p < 0.001) backs this up.  
These results indicate that changeable interrelationships possess sufficient strength to create latent entities. The  
elevated KMO score corroborates Hypothesis H1, suggesting that economic and other factors may explain  
disparities in work-life balance and entrepreneurial aspiration. It also connects to the second goal of the study,  
which is to find out how various things impact the balance of entrepreneurs. The significant Bartlett's Test (p <  
0.001) demonstrates a strong association across research variables, indicating essential factors such as personal  
drive, family support, and financial independence. This research demonstrates that the questionnaire  
components effectively characterise the diverse attributes of women entrepreneurs in Madhya Pradesh within  
the economic and social framework. The 350-person sample size allows for a robust multivariate analysis since  
the adequacy is high (KMO > 0.9). This makes the findings more generalisable.  
Descriptive Statistics of Study Variables  
Variable  
Mean  
2.228  
2.366  
2.463  
2.216  
2.593  
Std. Deviation  
0.765  
Min  
Max  
5
Work-Life Balance  
Personal Factors  
Work-Related Factors  
Family-Related Factors  
Economic Factors  
1
1
1
1
1
0.827  
4.6  
0.805  
4.6  
0.838  
4.33  
4.33  
0.678  
Table 3: Descriptive Statistics of Variables (Author’s Own Calculation)  
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The descriptive statistics in Table 3 show the main trends for the five most important variables. Most of the  
people who answered thought that these things had an impact on their experiences as entrepreneurs, as the  
mean scores ranged from 2.21 to 2.59. Women-owned businesses need money to survive, therefore they need  
to be able to save and invest. The mean score for economic factors was 2.593, which was the highest. The  
lowest mean score for family-related traits (Mean = 2.216) suggests that many women who own businesses in  
the area still have trouble with home support networks. These results address the study's question by showing  
what motivates women business owners. There are institutional and cultural barriers to success, but it is  
feasible. The average scores across categories suggest that entrepreneurs are just slightly happy. The larger  
standard deviations (0.678 to 0.838) show that people had different experiences, especially in Bhopal, Indore,  
and Jabalpur. Entrepreneurs in cities have more access to resources and support networks than those in smaller  
businesses or rural areas. This helps them stay stable in their jobs and finances. This supports Hypothesis H1,  
which says that entrepreneurs need to be financially independent in order to have fun and find balance.  
ANOVA Results: Factorial Impact on Work-Life Balance  
Domain  
F
p-value  
0.2863  
0.9384  
0.0494  
0.000  
η²  
Personal Factors  
Work-Related Factors  
Family-Related Factors  
Economic Factors  
1.2546  
0.0636  
3.0311  
61.2363  
0.0063  
0.0003  
0.015  
0.2358  
Table 4: One-Way ANOVA Results for Work-Life Balance by Factors (Author’s Own Calculation)  
The analysis of variance shows that each of the four independent variables affects work-life balance  
differently. Significant influence of economic factors on result (η² = 0.2358), as proven by statistical tests (F =  
61.236, p < 0.001). This supports hypothesis H1, that economic stability boosts women's motivation and work-  
life balance statistically. Women require financial independence, liquidity, and a regular salary to invest in  
resources, alleviate stress, and handle family duties. These elements greatly impact firm success. The minor  
relevance of family-related variables (F = 3.031, p = 0.049) supports Hypothesis H2, that family dynamics  
affect entrepreneurial drive less. This suggests that family and spouse support improves women's mental health  
and happiness. The absence of significant evidence (p > 0.05) for personal and work-related components  
supports Hypothesis H3. Even when present, these factors have minimal effect on work-life balance. These  
findings support the second study goal of determining how economic, personal, familial, and professional  
factors impact work-life balance. They also show that economic empowerment is the most important element,  
with other areas acting as mediators or secondary impacts, addressing the second study question.  
Post-Hoc Comparisons  
Group  
A
B
t-value P_Raw Mean_A Mean_B Diff  
-
P_Adj_Holm Domain  
Personal  
Factors  
Group  
-
Personal  
0.945  
Low  
Medium  
0.4728  
2.1685  
2.2349  
0.7192  
0.0664  
Factors  
Personal  
Factors  
Group  
-
-
Personal  
0.3773  
Low  
High  
0.1258  
0.4725  
2.1685  
2.2349  
2.3121  
2.3121  
1.5368  
0.1436  
Factors  
Personal  
Factors  
Medium High  
0.945  
-
-
Personal  
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Group  
0.7196  
0.0772  
Factors  
Work  
Work  
1 Related  
Factors  
Related  
Factors  
Group  
Low  
Low  
Medium 0.0618 0.9508  
2.2406  
2.2406  
2.2347  
2.1088  
2.1088  
2.3218  
2.2347 0.0059  
Work  
Work  
1 Related  
Factors  
Related  
Factors  
Group  
High  
0.3475 0.7285  
0.2639 0.7921  
2.2093 0.0313  
2.2093 0.0254  
Work  
Work  
1 Related  
Factors  
Related  
Factors  
Group  
Medium High  
Family  
Related  
Factors  
Group  
Family  
0.0516 Related  
Factors  
-
0.0172  
2.3963  
-
2.3218  
Low  
Low  
Medium  
0.2129  
Family  
Related  
Factors  
Group  
Family  
0.2035 Related  
Factors  
-
0.1018  
1.6431  
-
2.2661  
High  
0.1572  
Family  
Related  
Factors  
Group  
Family  
0.5709 Related  
Factors  
Medium High  
0.5676 0.5709  
2.2661 0.0557  
Economic  
Factors  
Group  
-
-
2.2805  
Economic  
Factors  
Low  
Low  
Medium  
0
1.8382  
1.8382  
2.2805  
0
4.9177  
0.4423  
Economic  
Factors  
Group  
-
-
2.7016  
Economic  
Factors  
High  
0
0
11.566  
0.8633  
Economic  
Factors  
Group  
-
Economic  
Factors  
Medium High  
0
2.7016 -0.421  
0
4.3821  
Table 5: Post-Hoc Pairwise Comparisons Using Welch’s t-Test (Holm-Adjusted p-Values)  
The post-hoc analysis enhances the comprehension of intergroup disparities shown in the ANOVA findings.  
Table 5 shows that women in the high economic factor group had a much better work-life balance than women  
in the low and medium economic categories (p < 0.001). This supports the idea that women who are better at  
managing their money have less friction between job and family and are happier as entrepreneurs. At the same  
time, there were no statistically significant variations between personal or work-related factor groups, which  
means that their effect is quite steady among all respondents. Family-related characteristics exhibit slight  
variations between low and medium support groups (p = 0.0516), indicating that even marginal enhancements  
in family cooperation may significantly influence emotional well-being. These data substantiate Hypothesis  
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H02, confirming that social and familial support functions as a modulator rather than a direct driver of  
entrepreneurial ambition. They also support the idea that family-friendly entrepreneurial initiatives, including  
family mentoring or spouse training, might indirectly help women in Madhya Pradesh keep their businesses  
going.  
Correlation Analysis  
Variable  
Work-Life Balance 1  
Table 6: Correlation Matrix among Variables (Author’s Own Calculation)  
Work-Life Balance Personal Work-Related Family Economic  
0.023 0.005 0.048 0.456  
Table 6 displays work-life balance's relationship matrix with other parameters. Economic factors had the most  
positive connection (r = 0.456, p < 0.001) with work-life balance. Financial independence increases women  
entrepreneurs' experiences. Low correlations (r < 0.05) between personal, family, and professional qualities  
and work-life balance suggest little direct links. This analysis finds the component with the strongest statistical  
link to entrepreneurial desire, supporting Hypothesis H1 and answering the third research question. The results  
reveal Madhya Pradesh women need economic empowerment to start enterprises. Financial stability reduces  
stress and boosts self-efficacy, helping women manage work and life. Small correlations between family and  
personal traits may improve mental wellness, but they won't help an entrepreneur without financial freedom.  
Economic initiatives including money education, microcredit, and women-owned MSMEs support networks  
are their policy priorities.  
Data are arranged to reflect the study's conceptual model (Figure 1). In Madhya Pradesh, economic  
considerations influence women entrepreneurs' motivation and work-life balance, supporting H1 by ANOVA  
and correlation. Family traits marginally but substantially impact entrepreneurship, confirming H2 and  
highlighting the socio-cultural requirement for inclusive family support networks. Personal and work-related  
factors are less essential, confirming H3, but they enable resilience, adaptability, and motivation. These  
statistics clearly answer all three study objectives and research questions. In a competitive and conventional  
business climate, Madhya Pradesh women entrepreneurs need economic empowerment and family support.  
This study shows that economic empowerment and familial support are essential for women's entrepreneurial  
success in Madhya Pradesh. Although present, personal and professional factors affect indirectly. These  
findings confirm all assumptions and demonstrate that family-friendly entrepreneurship training, financing  
availability, and legislative measures to increase women's MSME participation are all solid ideas. Thus, the  
results section meets research aims and provides a firm foundation for study interpretation, policy  
recommendations, and conclusion.  
INTERPRETATION  
This research found that economic, family, personal, and professional factors influence Madhya Pradesh  
women's entrepreneurship. Quantitative study reveals that financial empowerment, familial support, and  
personal autonomy impact women's entrepreneurship. Cronbach's Alpha of 0.942 demonstrates that the 33-  
item questionnaire successfully assessed women's views in many situations. A KMO score of 0.929 and a  
significant Bartlett's test result (p < 0.001) indicate the dataset's structural integrity. The research method is  
confirmed. These vital data complement interpretations and guarantee that analytical conclusions accurately  
represent Madhya Pradesh's entrepreneurial ecosystem. ANOVA reveals economic variables strongly affect  
work-life balance (F = 61.23, p < 0.001). This implies that financially independent women entrepreneurs are  
more motivated. Credit, savings, and financial stability may boost employment, mental health, and  
relationships. Wealthy women may handle stress and numerous occupations better, correlating economic  
empowerment to mental wellness.  
Family factors aid socialisation, but less so (F = 3.03, p = 0.049). Research shows that husbands, children, and  
extended families' emotional and practical support influences women's work-life balance. Self-confidence,  
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time management, and professional autonomy indirectly improve motivation by boosting resilience and  
adaptability, but not considerably. A substantial association (r = 0.456, p < 0.001) exists between economic  
conditions and work-life balance. This suggests financial stability makes entrepreneurs happy. This  
mathematical understanding reflects regional reality when women confront institutional hurdles to formal  
credit and employ informal or community-based finance. Financial literacy, microcredit, and women's banking  
may boost mental health and economic involvement. Family characteristics are minor; therefore, gender and  
culture affect entrepreneurs. Community mentorship and spouse workshops may help people see cultural  
differences as opportunities.  
Statistics show that Madhya Pradesh women entrepreneurs confront several hurdles. Digital inclusion and  
modernity provide new opportunities, but expectations may restrict them. The whole model illustrates that  
female entrepreneurs must balance personal, familial, and societal aims. This paper has several promising  
research avenues. Women's entrepreneurial objectives may be tracked throughout the digital revolution and  
government financial accessibility measures. Madhya Pradesh may show regional best practices and systemic  
policy execution challenges when compared to other states. Third, interviews and focus groups may disclose  
emotional and psychological aspects that quantitative data cannot. Future models may include leadership,  
digital skills, and social capital to enhance projections. Structural Equation Modelling (SEM) may examine  
causal linkages between financial empowerment, family support, and motivation, making this paradigm more  
empirical.  
CONCLUSION AND SUGGESTIONS  
Economic empowerment in Madhya Pradesh makes women more entrepreneurial and improves work-life  
balance, according to study. Factor analysis, correlation, and ANOVA demonstrate that financial independence  
most affects women's ability to balance family and professional duties and pursue entrepreneurship.  
Financially secure women are happier, more confident, and resilient. Family support moderates stress and  
improves corporate continuity, although it is less significant overall. Personal and work-related characteristics,  
albeit not statistically significant, affect women's adaptive methods for managing constraints and maximising  
opportunities. Overall, these findings corroborate the theory that psychological, social, and economical aspects  
affect women's entrepreneurship. The report provides insightful analysis of the local entrepreneurship sector.  
Starting enterprises is one of the main ways Madhya Pradesh women are entering the workforce. Even if  
legislative frameworks help women, limited access to money, low understanding of government efforts, and  
entrenched gender stereotypes nevertheless hinder their progress. First, women's financial empowerment is  
linked to self-determination; second, entrepreneurship need a socio-cultural infrastructure.  
We advocate the following to encourage more Madhya Pradesh women to become entrepreneurs based on our  
results and research. First, Stand-Up India and MUDRA attempt to streamline public and private bank lending  
procedures. Lower collateral requirements, simplified loan applications, and education could make financing  
women-led enterprises easier. Establishing district-specific microfinance institutions for women may help  
close the financial inclusion gender gap. Second, digital banking, taxation, and firm management training must  
be regular. MSME departments, NGOs, and women's chambers of commerce may collaborate on practical and  
technology-based capacity building. Finally, authorities should emphasise family engagement by  
implementing counselling and mentorship programs that teach families about the social and economic benefits  
of empowering women business owners. Community recognition and spouse engagement reduce social  
antagonism. Finally, entrepreneurial rules should account local industry dynamics and community standards.  
The state of Madhya Pradesh should promote women-dominated businesses including textiles, agri-processing,  
digital services, and handicrafts. This study contributes academically and practically. It supports an academic  
paradigm that links entrepreneurial desire to financial, family, individual, and occupational factors. Practically,  
it highlights Madhya Pradesh's measures to boost female entrepreneurs. Empowering women economically  
may change gender justice and regional growth, according to the research. We need better financial  
institutions, family-friendly regulations, and mental fortitude to help Madhya Pradesh women business owners  
adjust to the changing market.  
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