Self-efficacy on Social Capital and Financial Empowerment Towards Socioeconomic Wellbeing Development Among Women Participants in Malaysia

Abstract

Social capital and financial empowerment create opportunities for women in social enterprises project that lead to socioeconomic wellbeing with perceived women’s efficacy (self-efficacy). With the strength of social capital that women entrepreneurs have, it is become easier for them to get financial accessibility. Whereas a strong efficacy enhances women’s accomplishment that contributes to the socioeconomic wellbeing. This study has employed a cross-sectional design and data from 157 women entrepreneurs in Peninsular Malaysia. This study indicated that social capital, financial capabilities and self-efficacy enhancement contributed to women empowerment to develop their socioeconomic wellbeing in social enterprise projects in Peninsular Malaysia. Given those important investments in social capital and financial empowerment, the government and private agencies should therefore focus on social enterprise development projects which are related to sustainable development goals.