Table 1.

Main variable’s definitions

S/No	Variable name	Definition	Reference
1	Need for achievement	The concept refers to an individual’s desire for achievement, while it also refers to choose and persist at activities that hold a moderate chance of success or those providing a maximum opportunity of personal achievement satisfaction	Zeffane, 2013; McClelland, 1961
2	Risk-taking	The degree to which managers are willing to make large and risky resource commitments, that is, those which have a reasonable chance of costly failures	Miller & Friesen, 1982
3	Self-confidence	Self-confidence has been defined as that it is the human feeling, which has trust in their qualities, abilities and judgment	Twibell et al., 2008
4	Economic factors	Economic factors refer to the set of basic information related to internal project financing and external market condition that affects the business or an ‘investment’s value	Wube, 2010
5	Socio-cultural factors	These factors include a combination of social and cultural factors that affect women entrepreneurs’ success	Wube, 2010