10 Effectuation thinking and the manifestation of socio-cultural complexities in Sri Lankan female entrepreneurs' business decisions
Nadeera Ranabahu and Mary Barrett
Female entrepreneurs in developing countries, including Sri Lanka, face many economic, cultural and social constraints in managing their businesses. Women in developing countries often lack steady employment and stable work histories, adequate collateral and verifiable credit histories (Ledgerwood & Earne, 2013). Many are illiterate and therefore unable to complete the paperwork needed to get conventional loans. To increase women’s access to credit, microfinance institutions (MFIs) such as the Grameen Bank in Bangladesh, where microfinance originated, extend very small loans (microcredit) ...
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