Let me give you a hand: A phenomenological study of women entrepreneurs, financial competency, and mentorship
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This study addressed the issue of mentorship need for women entrepreneurs in the beginning phase of their businesses. Texas ranks among the 10 fastest growing states for women-owned businesses (63%); however, there is a lack of mentorship programs tailored to meet the need of this growing population. According to one of the Kauffman study, nearly 50% of women entrepreneurs stated the lack of mentorship as a hindrance for them to reach to their entrepreneurial potential (Fetsch, 2015). The purpose of this study was to explore the perceptions of women entrepreneurs receiving mentorship towards entrepreneurial success. A qualitative approach was used to gather data by interviewing 11 business owners who were receiving or had received any kind of help in the areas of training, funding, coaching and networking opportunities from any organizations in Texas Dallas Fort worth (DFW) area that support women entrepreneurs. Three concepts were emerged out of this study: (a) entrepreneurship as a career, (b) mentorship as a resource, and (c) satisfaction, which were revolved around two overarching themes: (a) resilience of women in business, and (b) importance of mentorship. This study suggested the meaningfulness of mentoring to women entrepreneurs at personal level than utilizing mentorship organizations especially during the first three years. This study might be useful for understanding the implication of mentorship to women entrepreneurs, to enhance their financial skills, and to empower them towards financial independency that will bring positive growth not only in women entrepreneurship but also in family outcomes.