A relational capital perspective on social sustainability. The case of female entrepreneurship in Italy

Purpose: Female entrepreneurship has been part of the political agenda internationally. Public entities should promote entrepreneurship in general, and female entrepreneurship in particular, with dedicated resources and programs. Female entrepreneurs are considered as a key asset in developing economic growth. However, women experience much more difficulties in opening their own ventures. Relational capital is particularly relevant when it comes to female entrepreneurship. We aim to analyze the factors that affect the opening of new ventures, and the role of relational capital in female entrepreneurship, taking into consideration the Italian context during the financial crisis. Design/methodology/approach: Our study employs a mixed-method approach analyzing data from a regional program to enhance the creation of new companies, trying to understand the issues of potential entrepreneurs in general and women in particular. A single case is then investigated using the CAOS model of micro-entrepreneurship and the network relationship model by Paoloni (2011). Findings: The analysis highlights how women face much more difficulties in starting new ventures concerning their previous experience if their employment condition finds an extended period of inactivity. Additionally, potential female entrepreneurs are more sensitive to the complexity of the initiative, concerning the required investment and the number of employees, compared to men entrepreneurs. Relational capital is a crucial asset in fostering the success of the venture, especially in the start-up phase. Originality/Value: The purpose of the study is to contribute to the debate regarding the issues affecting the opening of new companies as well as the link between relational capital and female enterprises. The paper offers some insights about a program covering a well-sized population during the financial crisis