Women entrepreneurs in emerging Saudi Arabia: exploring the impact of innovation, risk and perseverance

Purpose: Saudi Vision 2030 is centred around innovation, entrepreneurship and women’s empowerment to foster economic growth and bring about social change. In this context, this study examines the impact of product innovation on the success of women entrepreneurs in Saudi Arabia, who constitute around 42% of the population and experience empowerment through recent reforms. Additionally, the study explores the moderating effect of risk-taking behaviour and the mediating role of perseverance. Design/methodology/approach: Employing a quantitative design, this study collected data from 256 Saudi women entrepreneurs from five major cities using a snowball sampling technique. The data were gathered through a survey questionnaire and analysed in SmartPLS 4. Findings: The results revealed that product innovation positively impacts both entrepreneurial perseverance and women’s entrepreneurial success. Furthermore, the moderating role of risk-taking behaviour and the mediating role of perseverance were found to be statistically significant in the relationship between product innovation and women’s entrepreneurial success. Practical implications: The research findings help policymakers to focus on important factors that can harness women’s entrepreneurship. The Saudi government and society should offer increased financial, regulatory and moral support to women entrepreneurs to achieve the National Vision 2030. Originality/value: This research provides empirical evidence on the crucial topic of women’s entrepreneurship in the context of Saudi Arabia, specifically from the perspective of product innovation, risk-taking behaviour and perseverance. The findings provide important practical, social and regulatory implications for various stakeholders.