Demystifying the women entrepreneurs in Sydney, Australia : a best practice model

The aim of this research was to explore and identify the underlying dynamics of the women in business in the Sydney region. With the main focus on challenges and barriers, women in business face, in general and specifically with obtaining resources in the form of funding and support services as entrepreneurs. This research spoke to 150 women entrepreneurs in the Sydney metropolitan area from August 2004 to November 2004 with the assistance of Australian Business Women's network. The findings stated that the main challenge women entrepreneurs in Sydney faced were getting funding to start or grow their business. Access to capital was a serious issue for them and they have a hard time getting credit. Another challenge was the conflict between work and family and they found it extremely difficult to obtain a balance and the commitment was huge. Managing business growth successfully, obtaining training and developing skills, finding and keeping qualified employees and keeping up with technology and other marketplace changes were the other challenges. This is a unique paper that presents the profiles of three women entrepreneurship in practice from amongst the 150 respondents. Based on the analysis and findings of this survey this paper puts forward "A Best Practice Business Support Model" for women entrepreneurs to launch and grow their own small business. This paper also recommends a public policy for its adaptation through local councils.