Muhammad Andi Abdillah Triono

The primary focus of my thesis is to get insight into the decision-making process of female entrepreneurs when it comes to selecting external sources of funding for their businesses. Women entrepreneurs' commitment to their communities is closely connected to the qualities of women entrepreneurs who prioritize balancing their business pursuits and personal lives and maintaining harmony in meeting their families' and households' needs and interests. However, empirical evidence has shown a disparity in financial access between women and men entrepreneurs when financing a firm.

The onset of the Fourth Industrial Revolution (4IR) has brought about the adoption of digitalization as a techno-economic paradigm in the movement of capital between investors and entrepreneurs. Various studies suggest that the problem of financial inequality between male and female entrepreneurs in companies can be addressed by incorporating digitalization facilitated by the Fourth Industrial Revolution (4IR). This integration can potentially democratize entrepreneurial funding, alleviating funding challenges faced by women and other marginalized groups who own micro and small businesses. Therefore, my study seeks to examine two layers of objective: firstly, to explore the current women's entrepreneurial ecosystems, and secondly, to analyze the funding decisions made by women entrepreneurs. 

The study will be situated in Medan, Indonesia, which serves as the western gate of Indonesia's economy. Medan, located on the Malacca Strait - the busy international shipping lane that connects East Asia to Europe, is the fourth largest city in Indonesia. Moreover, it is situated in a strategically significant area that has been used for more than a century of trade between Malaysia (Kuala Lumpur) and Singapore. This study will employ both quantitative and qualitative research methods. The study population comprises business owners who conduct their operations in 21 districts within the City of Medan and are officially registered in the database maintained by the Ministry of Small and Medium Enterprises (SMEs) and Cooperatives of the Republic of Indonesia.

The sampling technique that will be used is the sampling size recommendation developed by Cohen (1992). The quantitative aspect of the study will utilize Analysis of Variance (ANOVA) as a technique to analyze the secondary data to confirm whether there is a significant difference between male and female entrepreneurs in obtaining external funding. Additionally, the primary data of this study will be analyzed through the Partial Least Square Equation Modelling (PLS-SEM) technique as a second-generation technique to confirm the significance of the research model. Further, the qualitative aspect will employ Reflexive Thematic Analysis through semi-structured interviews with open-ended questions. 

This study will have five anticipated contributions. Firstly, Medan, primarily populated by Indo-Chinese individuals who constitute an ethnic minority responsible for driving 70 percent of Indonesia's economy, is the initial basis for studying women entrepreneur activities in Southeast Asia, especially for future women's entrepreneurial research in Malaysia, Thailand, and Singapore. Secondly, ascertain if the implementation of digitalization will hinder or enhance the capacity of female entrepreneurs to find alternate sources of finance compared to when they pursue traditional funding methods. Thirdly, to contribute to the body of knowledge regarding the existing knowledge base on digitizing funding for female entrepreneurs. Fourthly, to enhance the comprehension of the impact of funding activities carried out by female entrepreneurs on the investigation of Signalling Theory and Packing Order Theory. Finally, to influence government regulation and financial institutions to assist women entrepreneurs in gaining external funding.