Analysing the roles of owners’ personal factors in determining the sustainability of women-owned SMEs during crisis

The pandemic significantly affected small and medium enterprises (SMEs) worldwide, including women-owned SMEs. Some had to close their operations; others survived or even thrived during the crisis. This research aims to analyse the roles of owners’ personal values, literacy in marketing and finance, entrepreneurial competencies, and entrepreneurial resilience in influencing the sustainability of women-owned SMEs in Indonesia. A focus group discussion with four women SME owners was conducted to obtain insights on factors influencing firm’s sustainability during the pandemic. Based on the FGD and current literature, a research model was tested using a survey of 235 women SME owners. The results show that an owner’s personal values have the most substantial influence on her entrepreneurial resilience, leading to SME’s sustainability. This paper contributes to the SME’s crisis management and women entrepreneurship literature by pinpointing which personal factors are vital for women-owned SMEs’ sustainability during a crisis, especially in an emerging country.