Women Entrepreneurship Development During COVID-19 Pandemic Perspectives Based on Framing Effect Theory
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Apr 17, 2024
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Abstract
Little research attention has been drawn to the negative versus positive effects of the novel COVID-19 pandemic on women-led enterprises. The Nigerian context that focuses on women of the most renowned entrepreneurial ethnic group in Sub-Saharan Africa has not been explored in the academic literature. This study explores the perceived effects of the novel COVID-19 pandemic on women entrepreneurship development in Nigeria by focusing on Igbo women entrepreneurs. A qualitative survey involving in-depth interviews of 28 nascent and established Igbo women entrepreneurs was conducted. Leveraging the Framing Effect Theory, thematic analysis was performed on the collected data. Findings indicate that the COVID-19 pandemic had both negative (loss of revenues, difficulty in repaying ongoing loans, damage of goods in the store, and inability to meet set growth targets) and positive (innovativeness, entrepreneurship opportunities, fulfilling entrepreneurship ambition, and digitization of entrepreneurship) effects on Igbo women-owned enterprises in Southeast Nigeria. However, contrary to previous research, nascent entrepreneurs are more positively impacted by the COVID-19 pandemic than experienced/established entrepreneurs. The study, thus, contributes to theory and practice by providing insightful directions for policymaking on women entrepreneurship development during economic crisis.
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References
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[32] OECD. (1997). Defining entrepreneurial activity. www.oecd.org
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[36] Peters, E., Hart, P. S., & Fraenkel, L. (2011). Informing patients: the influence of numeracy, framing, and format of side effect information on risk perceptions. Medical Decision Making: An International Journal of the Society for Medical Decision Making, 31(3), 432–436.
[37] Ratten, V., & Jones, P. (2021). Covid-19 and entrepreneurship education: Implications for advancing research and practice. The International Journal of Management Education, 19(1), 100432.
[38] Sanja, P.P., Dusica, S., & Nikola, V. (2020).Women entrepreneurship in the time of COVID-19 pandemic: The case of Serbia. Journal of Women’s entrepreneurship and Education, (3-4), 23-40.
[39] Santos, S.C., Liguori, E.W., & Garvey, E. (2023).How digitalization reinvented entrepreneurial resilience during COVID-19. Technological Forecasting and Social Change, 189, 122398, https://doi.org/10.1016/j.techfore.2023.122398
[40] Silvia, B., Slavka, K., & Gabriela, G. (2020). The impact of COVID-19 pandemics on schools: Challenges and new opportunities for a woman-owned organization. Journal of Women’s entrepreneurship and Education, (3-4),.41-58.
[41] Sörensson, A. & Ghannad, N. (2023). Entrepreneurial opportunities and difficulties under COVID-19 for women entrepreneurs in Asia and Europe. Journal of Entrepreneurship in Emerging Economies, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JEEE-02-2023-0052
[42] Tversky, A., & Kahneman, D. (1985). The framing of decisions and the psychology of choice. In: Wright, G. (eds) Behavioral Decision Making. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-2391-4_2
[43] United Nations. (2020). COVID-19 to slash global economic output by $8.5 trillion over next two years. www.un.org
[44] United Nations Conference on Trade and Development. (2021). Global economy could lose over $4 trillion due to COVID-19 impact on tourism. www.unctad.org
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[47] Valdez-Juárez, L.E, Castillo-Vergara, M, Ramos-Escobar, E.A. (2022). Innovative Business Strategies in the Face of COVID-19: An Approach to Open Innovation of SMEs in the Sonora Region of Mexico. Journal of Open Innovation: Technology, Market, and Complexity, 8(1), 47. https://doi.org/10.3390/joitmc8010047
[48] Vamvaka, V., Stoforos, C., Palaskas, T., & Botsaris, C. (2020). Attitude toward entrepreneurship, perceived behavioral control, and entrepreneurial intention: dimensionality, structural relationships, and gender differences. Journal of Innovation and Entrepreneurship, 9(5), 1-26. https://doi.org/10.1186/s13731-020-0112-0
[49] WHO. (2020). Coronavirus disease (COVID-19). https://www.who.int/docs/default-source/coronaviruse/situation-reports/20201005-weekly-epi-update-8.pdf
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[51] Worldometer. (2023). Coronavirus death toll and trends. www.worldometers.info
[52] Xu, Z., & Jia, H. (2022). The influence of COVID-19 on entrepreneur's psychological well-being. Organizational Psychology, 12, 823542. https://doi.org/10.3389/fpsyg.2021.823542
[53] Yao , Z., and Liu, Y (2023). How Covid-19 impacts the financing in SMEs: Evidence from private firms. Economic Analysis and Policy. https://doi.org/ 10.1016/j.eap.2023.06.036
[54] Zhong N., Zheng B., Li Y., Poon L., & Xie Z. (2002). Epidemiology and cause of severe acute respiratory syndrome (SARS) in Guangdong, People's Republic of China, in February, 2003. The Lancet, 362(9393), 1353-1358.
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[2] African Development Report. (2011). Entrepreneurship development. www.afdb.org
[3] Agu, G. A., Okwara, O.O., Okocha, E.R., & Madichie, N.O. (2022). COVID-19 pandemic and entrepreneurial intention among university students: a contextualisation of the Igbo Traditional Business School. African Journal of Economic and Management Studies, 13(1), 89-104.
[4] Agu, G.A., Okereafor, G. E., Omotosho, D.T., Okocha, E.R., & Uche, D.B. (2023). Drivers of religious entrepreneurial behaviour among Pentecostal pastors: push-pull-mooring theory and theory of planned behaviour. Small Enterprise Research, 30(3), 275-300. https://doi.org/10.1080/13215906.2023.2231408
[5] Agu, G.A., Ogbuji, C.N. & Okpara, G.S. (2023b). Product Management and Business Policy: Marketing approach. Gandic Universal Services: Owerri.
[6] Alanzi, S. & Ratten, V. (2023). The use of technology in facing the COVID-19 negative consequences and the associated opportunity for digital entrepreneurship in KSA", Journal of Trade Science, 11 (2/3), 31-44. https://doi.org/10.1108/JTS-06-2023-0002
[7] Anggadwita, G., Indarti, N., & Ratten, V. (2023). Women entrepreneurs in the craft industry: a case study of the batik industry during the COVID-19 pandemic. International Journal of Sociology and Social Policy, 43(11/12), 1029-1046. https://doi.org/10.1108/IJSSP-12-2022-0305
[8] Bartik, A. W., Bertrand, M., Cullen, Z. B., Glaeser, E. L., Luca, M., & Stanton, C. T. (2020). How are small businesses adjusting to COVID-19? Early Evidence from a Survey. NBER Working Paper No. w26989.
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[10] Coad, A., Amaral-Garcia, S., Bauer, P., Domnick, C., Harasztosi, P., Pál, R. & Teruel, M. (2022). Investment expectations by vulnerable European firms in times of COVID. Eurasian Business Review, 13(1), 28, https://doi.org/10.1007/s40821-022-00218-z
[11] Dhar, S., Farzana, T., & Abedin, S. S. I. (2022). Pushed or pulled into entrepreneurship? Motivations behind entrepreneurial entry for Women with disabilities in Bangladesh. Journal of Women's Entrepreneurship and Education, (3-4), 103-125.
[12] Elena, S., Olga, B. & Olga, G. (2021). Women entrepreneurship in the time of COVID-19 pandemic: Opportunities and risks. Journal of Women’s entrepreneurship and Education, (1-2), 70-83.
[13] Emami, A., Welsh, D.H.B., Ramadani, V., & Davari, A. (2019). The impact of judgment and framing in entrepreneurs' decision making. Journal of Small Business & Entrepreneurship. https://doi.org/10.1080/08276331.2018.1551461
[14] Engidaw, A.E. (2022). Small businesses and their challenges during COVID-19 pandemic in developing countries: in the case of Ethiopia. Journal of Innovation and Entrepreneurship, 11(1). https://doi.org/10.1186/s13731-021-00191-3
[15] Gopinath, G. (2020). The great lockdown: Worst economic downturn since the great depression. www.imf.org
[16] Gur, N., Babacan, M., Aysan, A.F. and Suleyman, S. (2023). Firm size and financing behavior during COVID-19 pandemic: Evidence from SMEs in Istanbul, Borsa Istanbul Review, 23(4), 804-817. https://doi.org/10.1016/j.bir.2023.02.001
[17] Igwe, P. A., Newbery, R., Amoncar, N., White, G. R.T. & Madichie, N. O. (2018) Keeping it in the family: Exploring Igbo ethnic entrepreneurial behaviour in Nigeria. International Journal of Entrepreneurial Behaviour & Research, 26(1), 34-53.
[18] Inegbedion, H. (2021). Impact of COVID-19 on economic growth in Nigeria: opinions and attitudes. Heliyon. 7(5), e06943. https://doi.org/10.1016/j.Heliyon
[19] Kani, R., Alexander, A., Nayak, P.G., Mudgal., J., & Nandakumar, K. (2020). COVID-19: Emergence, spread, possible treatments, and global burden. Frontier Public Health, 8. https://doi.org/10.3389/fpubh.2020.00216
[20] Kaya, H. D. (2021). Do Business-Friendly States Attract Female Entrepreneurs?. Journal of Women's Entrepreneurship and Education, (3-4), 1-21.
[21] Khalil, R.B., Sleilaty, G., El-Khoury, J. & Nemr, E. (2020). Teaching the use of framing and decontextualization to address context-based bias in psychiatry, Asian Journal of Psychiatry, 54, 102276
[22] Kühberger, A. (1998). The influence of framing on risky decisions: a Meta-analysis. Organizational Behaviour and Human Decision Process, 75(1), 23-55.
[23] Kirsner, S. (2013). 11 Ways Big Companies Undermine Innovation. Harvard Business Review. www.hbr.org
[24] Lazic, M., Jovanovic, O., & Marija, L.M. (2021). Women’s entrepreneurship in the wake of COVID-19 crisis. Journal of Women’s entrepreneurship and Education, (1-2), 56-69.
[25] Lian, J., & Vishwanath, T. (2021). The COVID-19 crisis in Nigeria: What’s happening to welfare? New data call for expanded social protection in Africa’s most populous country. www.worldbank.org
[26] Madichie, N.O, & Agu, G.A. (2022). The role of universities in scaling up informal entrepreneurship. Industry and Higher Education, 37(1). https://doi.org/10.1177/095042222211015
[27] Modgil, S., Dwivedi, Y.K., Rano, N.P., Gupta, S., & Kamble, S. (2022). Has Covid-19 accelerated opportunities for digital entrepreneurship? An Indian perspective. Technological Forecasting and Social Change, 175, 121415.
[28] Mueller, A., Namara, M.C.N.S., & Sinclair, D.A. (2020). Why does COVID-19 disproportionately affect older people? Aging, 12(10), 9959-9981.
[29] Mustafa, F., Khursheed, A., Fatima, M., & Rao, M. (2021). Exploring the impact of COVID-19 pandemic on women entrepreneurs in Pakistan. International Journal of Gender and Entrepreneurship, 13(2), 187-203. https://doi.org/10.1108/IJGE-09-2020-0149
[30] Muzaffar, H. (2023). Pandemic silver lining: how the COVID-19 pandemic helped women to beat the “gender stereotypes pandemic” in entrepreneurship. Gender in Management, 38(1),76-92. https://doi.org/10.1108/GM-10-2021-0316
[31] National Bureau of Statistics. (2022). 20 percent of the full-time workforce in Nigeria lost their jobs due to the COVID-19 pandemic in 2020. September.
[32] OECD. (1997). Defining entrepreneurial activity. www.oecd.org
[33] Otrachshenko, V., Popova, O., Nikolova, M., & Tyurina, E. (2022). COVID-19 and entrepreneurship entry and exit: Opportunity amidst adversity. Technology in Society, 71, 102093.
[34] Oyewale, A., Adebayo, O., Kehinde, O. (2021). Estimating the impact of COVID-19 on small and medium scale enterprise: Evidence from Nigeria. https://cgspace.cgiar.org/handle/10568/111225
[35] Perera, A. (2023). Framing effect in psychology. https://www.simplypsychology.org
[36] Peters, E., Hart, P. S., & Fraenkel, L. (2011). Informing patients: the influence of numeracy, framing, and format of side effect information on risk perceptions. Medical Decision Making: An International Journal of the Society for Medical Decision Making, 31(3), 432–436.
[37] Ratten, V., & Jones, P. (2021). Covid-19 and entrepreneurship education: Implications for advancing research and practice. The International Journal of Management Education, 19(1), 100432.
[38] Sanja, P.P., Dusica, S., & Nikola, V. (2020).Women entrepreneurship in the time of COVID-19 pandemic: The case of Serbia. Journal of Women’s entrepreneurship and Education, (3-4), 23-40.
[39] Santos, S.C., Liguori, E.W., & Garvey, E. (2023).How digitalization reinvented entrepreneurial resilience during COVID-19. Technological Forecasting and Social Change, 189, 122398, https://doi.org/10.1016/j.techfore.2023.122398
[40] Silvia, B., Slavka, K., & Gabriela, G. (2020). The impact of COVID-19 pandemics on schools: Challenges and new opportunities for a woman-owned organization. Journal of Women’s entrepreneurship and Education, (3-4),.41-58.
[41] Sörensson, A. & Ghannad, N. (2023). Entrepreneurial opportunities and difficulties under COVID-19 for women entrepreneurs in Asia and Europe. Journal of Entrepreneurship in Emerging Economies, Vol. ahead-of-print No. ahead-of-print. https://doi.org/10.1108/JEEE-02-2023-0052
[42] Tversky, A., & Kahneman, D. (1985). The framing of decisions and the psychology of choice. In: Wright, G. (eds) Behavioral Decision Making. Springer, Boston, MA. https://doi.org/10.1007/978-1-4613-2391-4_2
[43] United Nations. (2020). COVID-19 to slash global economic output by $8.5 trillion over next two years. www.un.org
[44] United Nations Conference on Trade and Development. (2021). Global economy could lose over $4 trillion due to COVID-19 impact on tourism. www.unctad.org
[45] Uwajumogu, N.R., Nwokoye, E.S., Anochiwa, L., Chukwu, A.B., & Agupusi, E.I. (2022). COVID-19 and Entrepreneurship in Nigeria: Embedded Opportunities and Challenges. COVID-19 in the African Continent, 137-152.
[46] Osabuohien, E., Odularu, G., Ufua, D., & Osabohien, R. (Eds.) COVID-19 in the African Continent, Emerald Publishing Limited, Bingley, pp. 137-152. https://doi.org/10.1108
[47] Valdez-Juárez, L.E, Castillo-Vergara, M, Ramos-Escobar, E.A. (2022). Innovative Business Strategies in the Face of COVID-19: An Approach to Open Innovation of SMEs in the Sonora Region of Mexico. Journal of Open Innovation: Technology, Market, and Complexity, 8(1), 47. https://doi.org/10.3390/joitmc8010047
[48] Vamvaka, V., Stoforos, C., Palaskas, T., & Botsaris, C. (2020). Attitude toward entrepreneurship, perceived behavioral control, and entrepreneurial intention: dimensionality, structural relationships, and gender differences. Journal of Innovation and Entrepreneurship, 9(5), 1-26. https://doi.org/10.1186/s13731-020-0112-0
[49] WHO. (2020). Coronavirus disease (COVID-19). https://www.who.int/docs/default-source/coronaviruse/situation-reports/20201005-weekly-epi-update-8.pdf
[50] World Bank. (2021). Impact of COVID-19 on Nigeria. www.worldbank.org
[51] Worldometer. (2023). Coronavirus death toll and trends. www.worldometers.info
[52] Xu, Z., & Jia, H. (2022). The influence of COVID-19 on entrepreneur's psychological well-being. Organizational Psychology, 12, 823542. https://doi.org/10.3389/fpsyg.2021.823542
[53] Yao , Z., and Liu, Y (2023). How Covid-19 impacts the financing in SMEs: Evidence from private firms. Economic Analysis and Policy. https://doi.org/ 10.1016/j.eap.2023.06.036
[54] Zhong N., Zheng B., Li Y., Poon L., & Xie Z. (2002). Epidemiology and cause of severe acute respiratory syndrome (SARS) in Guangdong, People's Republic of China, in February, 2003. The Lancet, 362(9393), 1353-1358.
[55] Zhu, N., Zhang, D., Wang, W., Li, X., Yang, B., Song, J., ... & Tan, W. (2020). A novel coronavirus from patients with pneumonia in China, 2019. New England journal of medicine, 382(8), 727-733.