The impact of work experience on selected entrepreneurial factors

Entrepreneurship has been cited as a significant contributor to economic growth and development numerous times by academics, policymakers and other stakeholders. Furthermore, in recent years, much emphasis has been placed on female entrepreneurs' role within a community and the economy. Emerging economies, such as South Africa, sometimes rely on entrepreneurship even more as a source of employment. However, many businesses fail due to various reasons. One of these possible reasons could be a lack of prior work or business experience. Considering this, the objective of this study was to explore the difference in various entrepreneurial factors between South African female entrepreneurs and the number of years’ experience they have as being self-employed. A quantitative descriptive research approach was followed. A total of 510 female entrepreneurs were asked to complete a self-administered questionnaire. Data were analysed using descriptive, reliability and validity statistics and a one-way ANOVA test. Findings indicated that, from the selected entrepreneurial factors, only internal motivation returned a statistically significant difference. Interestingly, females with more than three years of self-employment experience were motivated more by internal factors such as independence, work-life balance, pursuing a challenge, contributing to society, and family security. The results suggest that females who have been self-employed for longer may not have as much external motivation as those who have just started a new business.