INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 507

www.rsisinternational.org

Building Resilience: How Malaysian Women Entrepreneurs Use

Strengths and Resources to Navigate Challenges

*Hanifah Moksin

, Simranpreet Kaur Hansaram

, Ahmad Mukhlas Ibrahim

UNITAR International University, Malaysia

Singular Property Management Sdn Bhd, Malaysia

*Corresponding Author

DOI:

https://dx.doi.org/10.47772/IJRISS.2025.910000043

Received: 02 October 2025; Accepted: 08 October 2025; Published: 03 November 2025

ABSTRACT

The robust global growth of women-led Small and Medium Enterprises (SME), particularly in developing

economies like Malaysia, highlights an essential yet under-realized economic potential. In Malaysia, women-

led SME contribute significantly to gross output, but their overall GDP contribution remains below potential,

constrained by systemic barriers. This qualitative study, framed by the Resource-Based View (RBV) and

Psychological Capital (PsyCap) theories, investigates how Malaysian women SME entrepreneurs utilize their

strengths and resources to overcome business challenges and foster resilience. Employing thematic analysis on

data from focus group discussions with women entrepreneurs in Selangor, Malaysia, the study reveals a

dynamic, synergistic process. Entrepreneurs draw upon their PsyCap (hope, efficacy, optimism, resilience) as

an invaluable internal resource (Proactive Adaptation and Strategic Agency). This inner strength, in turn,

drives the strategic mobilization of external, RBV-aligned resources, notably through Relational Resilience

(support networks) and the use of Fuel for the Journey (customer affirmation and market validation). The

findings establish that PsyCap and RBV are not independent but are mutually reinforcing, forming a virtuous

cycle that transforms adversity into competitive advantage. The study’s key theoretical contribution is the

integration of these frameworks, demonstrating how internal psychological resources drive the acquisition of

external strategic resources, which then renew and strengthen the psychological capital. Practically, the results

advocate for policies that not only enhance financial resources but also strengthen the psychological resilience

of women entrepreneurs to unlock their full economic potential.

Keywords: Women SME entrepreneurs, Resilience, Psychological Capital (PsyCap), Resource Based View

(RBV)

INTRODUCTION

The world is witnessing a robust wave of women entrepreneurship, with women now representing 43% of

global entrepreneurs, with the highest growth in developing economic countries such as Sub-Saharan Africa

and South-East Asia (GEM Global Entrepreneurship Monitor). The focus is directed to small, medium

enterprises (SME), due to this is where women’s impact is most pronounced, and the global growth is largely

driven by this sector. Over 50% of women-owned SME launched in the past five years with 13 million new

women-led business registered all over the world since year 2020 (World Bank 2024). This figure showed that

the SME are the primary platform for women’s economic advancement especially in developing countries like

Sout-East Asia.

In Malaysia, nearly 21.3% of all SME are women, about 1.2 million business and most sectors are services

such as retail, food and beverages and education and manufacturing such as textiles and handicrafts (MSME

Insights 2023/24).

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 508

www.rsisinternational.org

Women-led SME in Malaysia achieved a remarkable RM 89.3 billion in gross output while contributing RM

44.3 billion in value-added, accounting for approximately 17% of the total SME sector. (DOSM, 2025).

Despite growth, women-led business still accounts for less than 6% of total GDP, this is below the potential

given that women represent 49% of Malaysia’s population and 38% of the SME workforce (MSME Insights

2023/24). Women-led SME could contribute a significantly higher share of GDP if the specific obstacles

hindering their growth are effectively addressed (Abdulla & Ahmad, 2023; Sadrnabavi & Daneshvar, 2023;

Cakranegara et al., 2022). Understanding how these entrepreneurs overcome challenges is, therefore, not

merely a niche interest but a crucial economic imperative.

The topic of investigation is the key to unlocking the potential lies in understanding the strengths and strategic

resourcefulness of the women. Malaysian women entrepreneurs are known to have a complex challenge

through a unique combination of personal drive and community-oriented resilience (Kipkosgei, 2022; Karimi

& Reisi, 2022). Their ability to persist and thrive the challenges needs to be investigated further. Hence, this

study is guided by two research questions (RQ):

RQ1: How do Women SME entrepreneurs in Malaysia recognize and utilize their strengths to overcome

challenges in their business?

RQ2: How do Malaysian Women SME entrepreneurs exploit available resources to foster resilience when

confronted with difficulties?

This research is founded on two theoretical frameworks, namely the RBV (Barney et al., 2001), which explain

how entrepreneurs utilize individual unique internal and external resources as strategic assets. In addition, the

PsyCap theory (Luthans et al., 2004), characterized by its essential of hope, efficacy, resilience and optimism,

offers a framework for examining the positive psychological strengths that foster persistence.

LITERATURE REVIEW

Challenges for Women SME Entrepreneurs

Women entrepreneurs managing SME face a variety of structural and contextual challenges. The main

limitations consist of restricted access to financial resources, management expertise, technological

advancements, and business connections (Mohd Azhar Ahmad et al., 2021). Frequently, societal expectations

and gender biases further restrict women's participation in key business decision-making processes (Dewitt et

al., 2023). Research conducted in Malaysia indicates that women entrepreneurs in SME continue to face

bureaucratic obstacles and resource constraints while attempting to expand their enterprises, even with the

presence of microfinancing options (Jalil, 2021). On a global scale, these obstacles diminish women's

competitiveness and delay progress toward business innovation (Brush et al., 2022).

The RBV Perspective

In alignment with the RBV framework, enduring competitive advantage is contingent upon the effective

utilization of internal resources that possess characteristics of being valuable, rare, inimitable, and non-

substitutable (VRIN). Within the realm of women-owned SME, these essential resources encompass financial

assets, technological expertise, brand reputation, and social capital. A shortfall in any of these critical resources

obstructs the potential for business expansion (Abebe & Kegne, 2023). Recent studies emphasize that capital

support and digital skills are critical factors that help women leverage market opportunities (Kurnia Rahayu et

al., 2023). However, the RBV must be interpreted contextually, as culture and gender norms also shape how

women acquire and utilize business resources (Adam et al., 2022).

PsyCap as an Intangible Resource

Beyond material resources, PsyCap comprising self-efficacy, optimism, resilience, and hope is a key driver of

success for women entrepreneurs. Research shows that PsyCap functions as a psychological fortress that helps

women recover from failure, maintain confidence, and adapt to market changes (Ummah, 2021). PsyCap is

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 509

www.rsisinternational.org

also linked to entrepreneurial well-being, thereby indirectly improving business performance (De Clercq et al.,

2022). Other studies find that PsyCap has a positive effect on business success through innovation and the

ability to use limited resources creatively (Kipkosgei, 2022). In the context of SME leadership, the business

owner's PsyCap has been proven to have a direct impact on the company's strategic achievements (Jalil et al.,

2023).

Strategies for Overcoming Barriers

To overcome these barriers, women entrepreneurs employ a combination of material and psychological

resources. From RBV perspective, these approaches encompass the utilization of microfinancing, participation

in training initiatives, and the adoption of digital technologies to improve competitive advantage (Abebe &

Kegne, 2023; Kurnia Rahayu et al., 2023). From the standpoint of PsyCap, approaches such as mentorship,

leadership development, and an emphasis on achieving small successes enhance motivation and self-assurance

in navigating risks (Jalil et al., 2023). Research indicates that the resilience and positive outlook of female

entrepreneurs propel them to persist in innovation, even when faced with financial and market obstacles (Brush

et al., 2022). While RBV and PsyCap have been studied separately, their synergistic relationship in the context

of Malaysian women entrepreneurs remains underexplored. Hence, this study is conducted to fill in the gap.

Conceptual Framework

The conceptual model below illustrates the integration of the RBV and PsyCap in explaining women SME

entrepreneurs’ performance and resilience. It highlights how internal resources and psychological strengths

interact to drive sustainable entrepreneurial success. Figure 1 presents the proposed conceptual framework.

Figure 1 Conceptual framework: Integration of RBV and PsyCap in Women SME entrepreneurs

The convergence of RBV and PsyCap contributes to a comprehensive insight into the achievements of women

in SME. The RBV prioritizes the significance of both external and internal assets that can be intentionally

cultivated, whereas PsyCap is recognized as an intangible asset fulfilling the VRIN criteria. Consequently,

PsyCap is regarded as an essential internal resource for fostering enduring competitive advantage (Kipkosgei,

2022; Ummah, 2021). This combined perspective covers the way for innovative theoretical and practical

applications, especially in formulating policies for women's entrepreneurship that not only enhance financial

resources but also bolster their psychological resilience in navigating market volatility.

METHODOLOGY

Research Design

This research employs a qualitative research design to investigate the viewpoints of women entrepreneurs in

SME within Selangor, Malaysia. The main method for gathering data involves conducting focus group

discussions. This approach is selected for its effectiveness in capturing diverse viewpoints and generating rich,

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 510

www.rsisinternational.org

interactive data through group dynamics (Mokhomole et al., 2023; Krueger & Casey, 2015). A series of three

focus group discussions were conducted, with each group comprising between three to four participants.

The data gathered from these discussions will be analyzed using thematic analysis. This method is well-suited

for identifying, analyzing, and reporting patterns (themes) within qualitative data, allowing for a detailed

interpretation of the participants' shared experiences (Braun & Clarke, 2006). The choice of Selangor as the

study location is strategic, as it consistently records one of the highest numbers of SME registrations in the

country (DOSM, 2025). As a result, the results obtained from this area are expected to serve as a model that

can be replicated for comprehending women entrepreneurs in different Malaysian states, especially in the

context of developing SME sectors.

Participants and Sampling

The participants selected for this research were meticulously chosen according to established criteria to

guarantee the significance and richness of the insights obtained. All participants consist of women

entrepreneurs who are currently overseeing SME within Selangor.

A fundamental criterion for inclusion was that each entrepreneur must have engaged in their SME operations

for at least two years. This stipulation ensures that the participants have progressed beyond the initial startup

period and have encountered the challenges linked to establishing and stabilizing a business. Such a level of

experience is essential, as it equips them to provide valuable insights on how they have enhanced their

entrepreneurial skills, navigated hurdles, and utilized resources to cultivate resilience amidst challenges.

Convenience sampling was employed to identify the women entrepreneurs who are presently managing SME

operating within Selangor. They are being selected based on their accessibility and willingness to participate

(Golzar et al., 2022) in this study. This method does not provide everyone with the same chance to be chosen,

but it is better suited for qualitative research (Shamsudin et al., 2024).

This study gathers information from SME women entrepreneurs until the data saturation point is achieved. The

sample size is suitable for qualitative research when no new themes emerge from the respondents (Guest et al.,

2020).

Studies using empirical data reached saturation within a narrow range of interviews, between 9 to 17

with relative same group of respondents and narrowly defined objective (Hansaram et al., 2024; Hennink &

Kaiser, 2022).

Data Collection

The objective of this research is to gather information through focus group discussions. There are three groups

identified for this process. Two groups with three participants and one group with four participants. The data

collected from each group through in-depth, semi-structured interviews (Hayati & Arini, 2023). This method

aligned with the objectives of the research and allows the researchers to explore emergent themes (Creswell &

Creswell, 2017; Creswell & Poth, 2016). Every group being interviewed for around one hour with their

consent before the interview starts, the session is recorded on audio (Hayati & Arini, 2023; King et al., 2018).

Data Analysis

Braun & Clarke (2006) six-steps thematic analysis is used for the data analysis. The six steps involved:

i. Familiarization with the data

ii. Generating initial coding

iii. Developing the theme

iv. Reviewing the theme

v. Defining and naming the theme

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 511

www.rsisinternational.org

vi. Reporting

Trustworthiness and Rigor

To ascertain the trustworthiness and methodological rigor of this qualitative research endeavor, a series of

strategies will be meticulously employed throughout the investigative process. Credibility, which constitutes a

critical dimension of internal validity, will be established through the acquisition of rich, comprehensive data

obtained from focus group discussions, thereby facilitating the capture of nuanced, collective experiences

among female entrepreneurs. To enhance transferability, akin to external validity, a thorough elucidation of the

participants' contexts, their specific sectors within SME, and their minimum one year of operational experience

will be articulated, thus enabling readers to assess the potential applicability of the findings to varying

contexts. Dependability, which is commensurate with reliability, will be addressed through the preservation of

a transparent and auditable research trail, meticulously documenting all methodological decisions from the

formulation of the focus group protocols to the intricate steps of the thematic analysis process as delineated by

Braun & Clarke (2006). Finally, confirmability, which aligns with objectivity, will be accomplished by

systematically coding the data and anchoring the identified themes directly in the participants' own

expressions, thereby ensuring that the findings are primarily shaped by the data collected rather than by

researcher bias.

Ethical Considerations

This research observes ethical guidelines that encompass the principles directing research designs and

associated practices. In qualitative research, ethical considerations are essential for maintaining the credibility

and validity of the study. Key principles comprise voluntary participation, informed consent, and

confidentiality. It is imperative for researchers to obtain informed consent from participants, guaranteeing that

they comprehend the study’s objectives, methods, and any possible risks involved. Participation in this study is

entirely voluntary. Therefore, respondents have the right to join or withdraw from research at any stage without

having to face any consequences. They are also not obligated to complete the interview if they feel

uncomfortable or unwilling to proceed further.

Prior to participating in this research, all respondents will be provided with an Informed consent form where

detailed explanation of the study's purpose, objectives, potential benefits, and any possible risks are explained.

The importance of this step is that it fosters trust and transparency in doing research (Gupta, 2023).

Participants must acknowledge their consent before proceeding with the survey. To maintain confidentiality,

responses will be securely stored. No data will be shared with external parties or used for purposes beyond this

research. Furthermore, this study ensures that all types of harm, physical, social, psychological harm are kept

to absolute minimum. Questions in the survey are designed to avoid discomfort or distress, and participants

can skip any question they do not wish to answer.

ANALYSIS AND DISCUSSION

The first part of the analysis is the overview of all the ten SME women entrepreneurs. The first group consists

of respondents (R) 1 to R3, the second group consists of R4 to R6, and the third group consists of R7 to R10.

Table 1 provides the industry and sector, and years in operation.

Respondent

Industry / Sector

Years in Operation

Healthcare / Elderly Care (Retirement Home)

15 years

Food & Beverage (Decorated Cakes)

6 years

Retail / Wellness (Essential Oils)

5 years

Retail / Services (Florist - Events & Bouquets)

8 years

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 512

www.rsisinternational.org

Food & Beverage (Home-based Food)

5 years

E-commerce / Food & Beverage (Cupcakes & Jellies)

6 years

Manufacturing / Biotechnology (Plant-based Laundry Care)

16 years

Financial Services (Insurance)

6 years

Food & Beverage (Home-based Baking)

5 years

R10

Financial Services (Unit Trust Consulting)

3.5 years

Table 1: Respondent Background

Based on table 1, the respondents operate in a wide range of sectors. Most common is food & beverages (R2,

R5, R6 and R9) followed by services (financial services, R8 and R10 and florist R4) and niche healthcare (R1,

R3 and R7). The three groups represent a strong mix of experience. R1 and R7 have already established their

business for more than 10 years. Meanwhile most of the respondents (R2, R4, R5, R6 and R8) have passed the

initial start-up phase and are likely to be in a growth stage. They already have experience in a range of five to

10 years. Only R10 represents those who are still in the early stage of establishment phase (less than 5 years).

Majority of the SME women entrepreneurs having more than 5 years range of operation, suggesting that they

have valuable experience navigating the challenges of running their business. The high prevalence of home-

based and food related business indicates these are accessible entry points for entrepreneurship. Meanwhile,

the presence of highly specialized and industrial businesss show a range of sophistication and market focus.

RQ1: How do women SME entrepreneurs in Malaysia recognize and utilize their strengths to overcome

challenges in their business?

In response to RQ1, thematic analysis was conducted following Braun & Clarke (2006) six-phase approach.

The analysis revealed several sub-theme and final theme that describe how women SME entrepreneurs

recognize and utilize their strengths to overcome business challenges, as shown in Table 2.

Table 2 Thematic Analysis of Entrepreneurial Strengths to Overcome Challenges

Participant

Verbatim Quote

Initial Code

Sub-Theme

Final Theme

"u give a quality service, care and love

towards your patients, they will really

love their stay"

Prioritizing

quality and care

Values-Driven

Approach

Strategic

Agency

"I handle challenges with an open heart"

Openness to

challenges

Adaptive Mindset

Proactive

Adaptation

"If customers provide feedback, I

improved accordingly"

Responsive

adaptation

Adaptive Mindset

Proactive

Adaptation

"I trust in divine providence and believe

everyone has their own blessings"

Spiritual trust

Values-Driven

Approach

Strategic

Agency

"I have my own support group in the

business. We share our stories and get

help"

Peer support

networks

Social Support

Relational

Resilience

"staying adaptable and learning

Adaptability and

Adaptive Mindset

Proactive

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 513

www.rsisinternational.org

continuously"

learning

Adaptation

"diversify my suppliers to avoid

shortages"

Diversifying

resources

External

Resource

Management

Relational

Resilience

"I network with other business owners to

gain insights and solutions"

Professional

networking

External

Resource

Management

Relational

Resilience

"embrace problem-solving with a positive

mindset"

Positive

problem-solving

Solution-Oriented

Action

Strategic

Agency

"Learn from failures and mistakes"

Learning from

failure

Learning from

Failure

Proactive

Adaptation

"take [mistakes] as a valuable lesson that

will help us to growth and sucess"

Growth through

adversity

Learning from

Failure

Proactive

Adaptation

"We have a very strong support from our

family"

Family support

system

Social Support

Relational

Resilience

"our parents will console us and give

thier support and teach us"

Familial

guidance

Social Support

Relational

Resilience

"settle [challenges] with a problem-

solving mindset"

Solution-focused

approach

Solution-Oriented

Action

Strategic

Agency

"stay adaptable such as sourcing

ingredients wisely, working with reliable

delivery partners"

Operational

adaptability

Adaptive Mindset

Proactive

Adaptation

"having a strong support system...helps

me stay motivated"

Motivational

support

Social Support

Relational

Resilience

"positive attitude and creative solutions"

Positivity and

creativity

Solution-Oriented

Action

Strategic

Agency

"understanding the problem deeply,

finding effective solutions"

Analytical

problem-solving

Learning from

Failure

Proactive

Adaptation

"avoiding giving up easily"

Persistence

Solution-Oriented

Action

Strategic

Agency

"communicate with my team to

brainstorm ideas...collaboratively"

Collaborative

resolution

Social Support

Relational

Resilience

"Always seeking new connections and

maintaining good relationships"

Relationship

cultivation

External

Resource

Management

Relational

Resilience

"Take one time at a time"

Step-by-step

progression

Adaptive Mindset

Proactive

Adaptation

"Dont compete with others...make it your

Independent

Values-Driven

Strategic

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 514

www.rsisinternational.org

way"

strategy

Approach

Agency

"absorb the situation wisely"

Contextual

discernment

Values-Driven

Approach

Strategic

Agency

R10

"I regularly turn to [mentors] for

guidance"

Mentorship

reliance

External

Resource

Management

Relational

Resilience

Based on Table 2, the initial codes are the specific, concrete actions and mindsets described by the participants,

such as "Learning from failure" or "Professional networking." These codes are then grouped into more focused

Sub-Themes like "Adaptive Mindset" or "Social Support”. These Sub-Themes are synthesized into three

overarching Final Themes that represent the core strategies for resilience and success. “Proactive

Adaptation” is the theme of actively learning and adjusting to challenges. “Strategic Agency” involves a

values-based and solution-focused drive to control one's path. “Relational Resilience” highlights the critical

role of leveraging social and professional networks for support and resources.

The data showed that the respondents’ inner strength are not merely personal traits but constitute of

psychological capital (Luthans et al., 2004), in which they use it as internal resource (Rani et al., 2019). The

ability of women entrepreneurs to engage in ongoing learning and maintain a positive outlook significantly

improves their strategic flexibility to remain competitive in their business (Miran & Gültekin, 2024).

Collectively, these elements constitute an important asset that boosts their problem-solving skills.

The initial theme highlights the mental and adaptive flexibility exhibited by these women entrepreneurs,

showcasing elements of optimism as they employ determination and strategic pathways to tackle obstacles and

achieve effectiveness, underlining their confidence in attaining success (Moksin et al., 2020). These women

entrepreneurs exhibited effectiveness by addressing challenges with a critical analytical approach. R7 focused

on “understanding the problem deeply, finding effective solutions”, while R5 and R7 explicitly valued learning

from failures, viewing mistakes as “a valuable lesson that will help us to growth and success”. This shows a

thoughtful perspective, the core aspect of efficacy (Muda et al., 2022).

The respondents exhibited hope by constantly generating new “pathway” to their goals. R4 and R6 emphasized

“staying adaptable and learning continuously”, with R6 specifically take an action like “sourcing ingredients

wisely, working with reliable delivery partners”, while R9’s strategy of “take one time at a time” and “absorb

the situation wisely” illustrates a measured, hopeful persistence on how they are handling the challenges in

their business. Furthermore, R2’s approach to handle challenges “with an open heart” and to improve based on

customer feedback showed that she is optimistic, this is a positive psychological capital (De Clercq et al.,

2022).

The second theme highlighted the driven, value-centric pursuit of goals embodying components of optimism

and perseverance (Sadrnabavi & Daneshvar, 2023). The women entrepreneurs consistently used their efforts

into solution strategies. R6 and R7 spoke of settling challenges with a “problem-solving mindset” and

“creative solutions”, while R7 explicitly valued “avoiding giving up easily” demonstrating clear resilience.

Women entrepreneurs optimism is fueled by a deeper purpose. R1’s commitment to provide “quality service,

care and love” and R5’s “passion to help solve people’s problem” show that their business objective is a key

resource. R9’s assertion to “Don’t compete with others…make it your way” highlights an independent

strategic confidence in their values. However, some argue that optimism was fortified by faith. R2’s trust in

“divine providence and believe everyone has their own blessings” represents a unique cultural (Modarresi &

Arasti, 2021) and personal resource that safeguards against uncertainty.

RQ2: How do Malaysian women SME entrepreneurs leverage available resources to foster resilience

when confronted with difficulties?

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 515

www.rsisinternational.org

To address RQ2, the data were analyzed using Braun & Clarke (2006) six-phase thematic analysis approach.

The process resulted in several sub-theme and final theme that reflect the dimensions of entrepreneurial

resilience among women SME entrepreneurs, as summarized in Table 3.

Table 3 Thematic Analysis of Entrepreneurial Resilience

Participant

Verbatim Quote

Initial Code

Sub-Theme

Final Theme

"My staff (they are my pillar of

support)"

Staff as support

pillars

Workplace

Support Systems

Relational Fuel

"My second son (Through all my hard

times the one who supported me)"

Family member

support

Familial Support

Systems

Relational Fuel

"The love from my patients"

Patient affection

Customer

Affirmation

Emotional

Rewards

"The trust from my patients' family"

Family trust

Customer

Affirmation

Emotional

Rewards

"The popularity of these decorated kek

pulut kuning continues to grow"

Market trend

appeal

Market Validation

Business

Vitality

"Trust with the process. I will learn and

getting better in the business as time

goes by"

Process

confidence

Growth Mindset

Personal

Development

"Passion for floral design and customer

satisfaction"

Creative passion

Intrinsic

Motivation

Personal

Development

"Support system from family, mentors,

and fellow entrepreneurs"

Multi-source

support

Expanded Support

Network

Relational Fuel

"Positive customer feedback that

motivates me to improve"

Feedback-

driven

improvement

Customer

Affirmation

Emotional

Rewards

"Continuous learning in business

strategies and market trends"

Skill

development

Growth Mindset

Personal

Development

"Passion to help solve people's

problem"

Problem-

solving drive

Purpose

Orientation

Personal

Development

"When our customer give their

feedback where their satisfy with our

products, we felt happy"

Satisfaction

from positive

feedback

Customer

Affirmation

Emotional

Rewards

"We are grateful to meet customers

from different races and background"

Diversity

appreciation

Social Impact

Business

Vitality

"Our parents always help and give their

support by console us"

Parental

emotional

support

Familial Support

Systems

Relational Fuel

"We have outles where we can share

about what we felt without being judge"

Non-judgmental

spaces

Emotional Safety

Nets

Relational Fuel

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 516

www.rsisinternational.org

"Seeing customers enjoy the cupcakes

and receiving positive feedback"

Joy from

customer

pleasure

Customer

Affirmation

Emotional

Rewards

"Continuous learning and adapting to

new trends"

Trend

adaptation

Market

Responsiveness

Business

Vitality

"Support from family, friends, and loyal

customers"

Multi-circle

support

Expanded Support

Network

Relational Fuel

"Support from my family and team"

Dual-support

system

Workplace &

Familial Support

Relational Fuel

"Consumer trust in our products and

positive feedback/testimonials"

Validation

through trust

Customer

Affirmation

Emotional

Rewards

"Witnessing the positive impact of our

products on users"

Observable

product impact

Social Proof

Business

Vitality

"Financial resources and interest"

Monetary-

capital

motivation

Pragmatic

Foundations

Business

Vitality

"Inner self"

Self-

determination

Intrinsic

Motivation

Personal

Development

R10

"I believe in the products and the

business"

Product

conviction

Purpose

Orientation

Personal

Development

R10

"Helping more people achieve their

financial goals"

Empowerment

mission

Social Impact

Business

Vitality

As from Table 3, the initial codes are the specific, concrete sources of motivation and support identified by the

entrepreneurs, such as "Staff as support pillars" or "Feedback-driven improvement." These are grouped into

Sub-Themes that categorize the type of support, like "Workplace Support Systems" or "Customer

Affirmation." These categories are then synthesized into three overarching Final Themes. These final themes

reveal that the entrepreneurs' drive and success stem from “Relational Fuel” (energy from personal and

professional networks), “Emotional Rewards” (validation and joy from customers), and a combination

of “Personal Development” (internal growth and purpose) and “Business Vitality” (market success and

pragmatic foundations).

Women SME entrepreneurs showed sophisticated leveraging of external resources, building a network of

support which perfectly align with RBV (Barney et al., 2001) by creating a competitive advantage that is

valuable, rare and difficult to imitate.

There are another two themes that emerge from the collected data. The first theme highlighted the strategic

mobilization of relational networks as critical external resources. Women entrepreneurs proactively built their

resource base. It is supported by R3 had her “own support group in the business, R4 actively “network with

other business owners to gain insights” and R8 focused on “seeking new connections and maintaining good

relationships”. It showed that women entrepreneurs having direct application of RBV in which adhere a

network of social capital (Sadrnabavi & Daneshvar, 2023).

It was found that the respondents diversify their resource portfolio as R4 mitigated risk by deliberately

“diversifying my suppliers to avoid shortages”, ensuring that stability of her supply chain. The data also

revealed deep reliance on core relational resources (Dewitt et al., 2023). R5 stated “our parents will console

us” and R1’s “my second son..supported me” showed that they received crucial emotional and practical

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 517

www.rsisinternational.org

support from family. Meanwhile, R1 and R7 identified their staff and team as essential pillars, creating a

valuable and unique human resource asset within their business.

The second theme for this question is the role of affirmation and validation. This theme identifies the critical

output of effectively leveraged resources which fuels further resilience. This is where RBV and PsyCap

intersect, external resources (RBV) directly reinforce internal psychological states (PsyCap). The theme

emerges as customer affirmation as emotional reward. Positive feedback was a powerful motivational cause, as

R4, R5, R6 and R7 all cited “positive customer feedback”, “satisfaction”, “trust” and the “joy form customer

pleasure” as primary motivators. This validation is an intangible resource that reinforces their efficacy (Muda

et al., 2022) and optimism.

Recognition from the market itself was a key resource. R2 noted the “popularity of these decorated kek pulut

kuning” and R7 valued “witnessing the positive impact of our products”, confirming their business’s viability

and strengthening their hope for the future. Finally, the knowledge that their work had a broader impact served

as a sustained resource. R5’s gratitude for meeting customers from “different races and background” and

R10’s mission of “helping more people achieve their financial goals” provided a sense of social impact that

powered their persistence.

CONCLUSION

The aim of this research is to collate and appraise evidence pertaining to how Malaysian women entrepreneurs

perceive their strengths and leverage on resources to build resilience in their environment. This study is framed

through the dual theoretical lenses of PsyCap and RBV theory. To conduct analysis for this study, the

researchers employed Braun & Clarke (2006) thematic analysis. The result of the analysis revealed a dynamic

and synergistic process where internal psychological resources and external strategic resources are inextricably

linked in fostering resilience. The outcome of the study also showed that entrepreneurs draw upon their

PsyCap embodied in Proactive Adaptation (hope, efficacy) and Strategic Agency (optimism, resilience) to

navigate challenge. At the same time, they strategically leveraged on RBV-aligned resources

through Relational Resilience (networks, support systems) and derive ongoing motivation from Fuel for the

Journey (customer affirmation, market validation).

The study's identification of virtuous cycle between RBV and PsyCap resources represents a pivotal theoretical

contribution. The cycle reveals that entrepreneurial resilience is not a static trait but a dynamic, self-reinforcing

process. Furthermore, it transforms adversity into a catalyst for growth, as internal resources like optimism and

efficacy drive entrepreneurs to proactively cultivate external resources. Examples such as support networks

and market knowledge deployment in turn renews and strengthens their psychological capital, creating a

sustainable competitive advantage. However, this powerful mechanism exists within a critical context of

constraint; the study emphasizes that while individual agency is a strong determinant of success, the cycle is

fragile and can be severed by systemic barriers like gendered norms and unequal resource access. Therefore,

the cycle's very existence underscores that fostering women's entrepreneurship requires a dual approach:

initiatives must not only aim to build individual PsyCap but must also actively dismantle the structural

inequities that prevent this virtuous cycle from initiating and sustaining itself, ensuring that resilience can truly

translate into progressive growth.

ACKNOWLEDGEMENT

The authors express their gratitude to UNITAR International University for support in publication of this

research. This research was supported by UNITAR internal research grant (IG2024/FOB/12).

Conflict of interest

The authors declare no conflicts of interest.

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 518

www.rsisinternational.org

REFERENCES

1. Abdulla, F. S., & Ahmad, A. (2023). Challenges faced by women entrepreneurs of 21st Century:

Literature review. Journal of Management & Science, 21(1), 16–16.

2. Abebe, A., & Kegne, M. (2023). The role of microfinance on women’s entrepreneurship development

in Western Ethiopia evidence from a structural equation modeling: Non-financial service is the way

forward. Cogent Business & Management, 10(3), 2256079.

https://doi.org/10.1080/23311975.2023.2256079

3. Adam, A., Abdullah, W. R. W., Maruhun, E. N. S., Anwar, I. S. K., & Salin, A. (2022). The resource-

based view theory and women microbusiness entrepreneurs: A contribution to business sustainability.

International Journal of Academic Research in Business and Social Sciences, 12(10), 2915–2932.

4. Barney, J., Wright, M., & Ketchen, D. J. (2001). The resource-based view of the firm: Ten years after

1991. Journal of Management, 27(6), 625–641. https://doi.org/10.1177/014920630102700601

5. Braun, V., & Clarke, V. (2006). Using thematic analysis in psychology. Qualitative Research in

Psychology, 3(2), 77–101. https://doi.org/10.1191/1478088706qp063oa

6. Brush, C. G., Eddleston, K. A., Edelman, L. F., Manolova, T. S., McAdam, M., & Rossi-Lamastra, C.

(2022). Catalyzing change: Innovation in women’s entrepreneurship. Strategic Entrepreneurship

Journal, 16(2), 243–254.

7. Cakranegara, P. A., Hendrayani, E., Jokhu, J. R., & Yusuf, M. (2022). Positioning Women

Entrepreneurs in Small and Medium Enterprises in Indonesia–Food & Beverage Sector. Enrichment:

Journal of Management, 12(5), 3873–3881.

8. Creswell, J. W., & Creswell, J. D. (2017). Research design: Qualitative, quantitative, and mixed

methods approaches. Sage publications.

https://books.google.com/books?hl=en&lr=&id=335ZDwAAQBAJ&oi=fnd&pg=PT16&dq=Creswell+

%26+Creswell+2017+research+design&ots=YExYJLwtnJ&sig=aGDZHqWFUvzETjlHO4S9RNRVw

9. Creswell, J. W., & Poth, C. N. (2016). Qualitative inquiry and research design: Choosing among five

approaches. Sage publications.

https://books.google.com/books?hl=en&lr=&id=DLbBDQAAQBAJ&oi=fnd&pg=PP1&dq=Creswell+

%26+Poth+2024+qualitative+inquiry+and+research+design&ots=-is94aITRB&sig=mi2MinM-Zi3b-

egc0c6GRYM1Mu8

10. Dangkeng, A., & Munir, R. (2025). Fintech and Financial Inclusion: How Digital Payment Systems

Empower Small Entrepreneurs. Journal of Indonesian Scholars for Social Research, 5(1), Article 1.

https://doi.org/10.59065/jissr.v5i1.172

11. De Clercq, D., Kaciak, E., & Thongpapanl, N. (Tek). (2022). Work-to-family conflict and firm

performance of women entrepreneurs: Roles of work-related emotional exhaustion and competitive

hostility. International Small Business Journal, 40(3), 364–384.

https://doi.org/10.1177/02662426211011405

12. Dewitt, S., Jafari-Sadeghi, V., Sukumar, A., Aruvanahalli Nagaraju, R., Sadraei, R., & Li, F. (2023).

Family dynamics and relationships in female entrepreneurship: An exploratory study. Journal of

Family Business Management, 13(3), 626–644.

13. DOSM: Nearly 220,000 women-led firms power Malaysia’s service sector, Selangor tops nationwide

count. (2025, April 30). Malay Mail. https://www.malaymail.com/news/malaysia/2025/04/30/dosm-

nearly-220000-women-led-firms-power-malaysias-service-sector-selangor-tops-nationwide-

count/175056

14. GEM Global Entrepreneurship Monitor. (n.d.). Retrieved May 15, 2025, from

https://www.gemconsortium.org/reports/womens-entrepreneurship

15. Golzar, J., Noor, S., & Tajik, O. (2022). Convenience sampling. International Journal of Education &

Language Studies, 1(2), 72–77.

16. Guest, G., Namey, E., & Chen, M. (2020). A simple method to assess and report thematic saturation in

qualitative research. PloS One, 15(5), e0232076.

17. Gupta, A. (2023). Challenges in Data Collection. In A. Gupta, Qualitative Methods and Data Analysis

Using ATLAS.ti (pp. 61–97). Springer International Publishing. https://doi.org/10.1007/978-3-031-

49650-9_3

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 519

www.rsisinternational.org

18. Hansaram, R., Kaur, S., Loy, C. K., Jasin, D., & Hansaram, R. (2024). Enhancing Employment

Opportunities for Persons with Disability (PWDs) through Strategic HR Practices: An Analysis with

Gender as a Moderating Factor. International Journal of Business and Technology Management, 6(2),

479–495.

19. Hayati, F. A., & Arini, R. E. (2023). Exploring the challenges and opportunities faced by women

entrepreneurs in Sukabumi District: A qualitative study. West Science Interdisciplinary Studies, 1(05),

77–86.

20. Hennink, M., & Kaiser, B. N. (2022). Sample sizes for saturation in qualitative research: A systematic

review of empirical tests. Social Science & Medicine, 292, 114523.

21. Home | Gender Data Portal. (n.d.). World Bank Gender Data Portal. Retrieved May 15, 2025, from

https://genderdata.worldbank.org/en/home

22. Jalil, M. F. (2021). Microfinance towards micro-enterprises development in rural Malaysia

through digital finance. Discover Sustainability, 2(1), 55. https://doi.org/10.1007/s43621-021-00066-3

23. Jalil, M. F., Ali, A., & Kamarulzaman, R. (2023). The influence of psychological capital and social

capital on women entrepreneurs’ intentions: The mediating role of attitude. Humanities and Social

Sciences Communications, 10(1), 1–14.

24. Karimi, S., & Reisi, S. (2022). Exploring the antecedents and outcomes of entrepreneurial well-being:

Empirical evidence from Iranian rural entrepreneurs. Frontiers in Psychology, 13, 858230.

25. King, N., Brooks, J., & Horrocks, C. (2018). Interviews in qualitative research.

https://www.torrossa.com/gs/resourceProxy?an=5019272&publisher=FZ7200

26. Kipkosgei, F. (2022). Perceived entrepreneurial stress and entrepreneurial resilience; The mediating

role of the well-being of entrepreneurs and moderating role perceived online social support. Merits,

2(1), 1–17.

27. Krueger, R. A., & Casey, M. A. (2015). Focus Group Interviewing. In K. E. Newcomer, H. P. Hatry, &

J. S. Wholey (Eds.), Handbook of Practical Program Evaluation (1st ed., pp. 506–534). Wiley.

https://doi.org/10.1002/9781119171386.ch20

28. Kurnia Rahayu, S., Budiarti, I., Waluya Firdaus, D., & Onegina, V. (2023). Digitalization and informal

MSME: Digital financial inclusion for MSME development in the formal economy. Journal of Eastern

European and Central Asian Research, 10(1). https://repository.unikom.ac.id/70070

29. Luthans, F., Luthans, K. W., & Luthans, B. C. (2004). Positive psychological capital: Beyond human

and social capital. https://digitalcommons.unl.edu/managementfacpub/145/

30. Miran, B., & Gültekin, S. (2024). Investigating the effects of the challenges faced by women

entrepreneurs on their entrepreneurial capabilities and developing effective entrepreneurship strategies.

Journal of Global Entrepreneurship Research, 14(1), 32. https://doi.org/10.1007/s40497-024-00401-8

31. Modarresi, M., & Arasti, Z. (2021). Cultural challenges of women entrepreneurs in Iran. In The

emerald handbook of women and entrepreneurship in developing economies (pp. 229–245). Emerald

Publishing Limited. https://www.emerald.com/insight/content/doi/10.1108/978-1-80071-326-

020211013/full/html

32. Mohd Azhar Ahmad, Mohd Basir Ahmad, Muhammad Ridha Mohd Azizan, & Sarina Mohamad Nor.

(2021). Emerging economy: Digital transformation and business performance: Investigating the

relationship among SMES in Kuala Lumpur, Malaysia. Asian Journal of Social Science Research, 3(1),

49–60.

33. Mokhomole, T., Legodi, B. L., & Mataboge, G. L. (2023). Tracking down the challenges facing the

detectives and forensic investigators in the public sector of South Africa. Asian Journal of Social

Science Research, 5(2). https://doi.org/10.5281/ZENODO.10438075

34. Moksin, H., Ab Hamid, N. R., Munap, R., & Said, H. (2020). ENHANCING HOME-BASED

WOMEN ENTREPRENEUR’S COMPETENCIES TOWARDS ENTREPRENUERIAL SUCCESS.

International Journal of Management (IJM), 11(12).

35. MSME Insights 2023/24 New Release—SMEinfo Portal. (2025, April 17).

https://www.smeinfo.com.my/msme-insights-2023-24-new-release-2/

36. Muda, N. S., Lonik, K. A. T., & Mohamad, A. M. (2022). Efficacy of the Amanah Ikhtiar Malaysia

Microcredit Scheme in Elevating the Income of the B40 Group.

https://www.academia.edu/download/96397171/efficacy-of-the-amanah-ikhtiar-malaysia-microcredit-

scheme-in-elevating-the-income-of-the-b40-group.pdf

INTERNATIONAL JOURNAL OF RESEARCH AND INNOVATION IN SOCIAL SCIENCE (IJRISS)

ISSN No. 2454-6186 | DOI: 10.47772/IJRISS | Volume IX Issue X October 2025

Page 520

www.rsisinternational.org

37. Rani, N. S. A., Krishnan, K. S., Suradi, Z., & Juhdi, N. (2019). Identification of critical components of

resilience during and after economic crises: The case of women food operators in Kuala Lumpur. Asian

Academy of Management Journal, 24(2), 111–126.

38. Sadrnabavi, F., & Daneshvar, H. (2023). Lived experiences of successful women entrepreneurs (SMEs)

in Iran: A feminist phenomenological study. Qualitative Research in Financial Markets, 15(5), 712–

731. https://doi.org/10.1108/QRFM-12-2021-0198

39. Shamsudin, M. F., Hassim, A. A., & Abd Manaf, S. (2024). Mastering probability and non-probability

methods for accurate research insights. Journal of Postgraduate Current Business Research, 9(1), 38–

53.

40. Ummah, M. S. (2021). Impact of psychological characteristics on the business performance of Muslim

women entrepreneurs in Sri Lanka. Journal of Islamic Monetary Economics and Finance, 7(4), 651–

670.