Page 23 - Zakat & Waqf: Impact on Women and Community Development

Zakat & Waqf: Impact on Women and Community Development | 13
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Networking
These antecedents gauge how women feel about creating the formal
and informal networks necessary to succeed in business. Additionally,
it measures how aware they are of potential avenues for future
commercial success. One opportunity that can help in business is the
access to knowledge resources through business networks; maintaining
a sizable professional network is necessary to access such resources.
Networks might include links to organisations and businesses, or they
can be restricted to just the people who assist entrepreneurs in
establishing their businesses. The amount of people that businesses
look to when they have questions about starting and running a firm
can be described as networking.

There are two types of networking: formal and informal. Because
informal networks are more likely to contain weak relationships, they
can be more beneficial to their members. Contractual links in business,
familial ties, and personal ties make up most informal networks.
Formal networks are agreements between independent enterprises to
improve the success of its members and support regional economic
development. They include business partnerships with accountants,
banks, lawyers, and trade associations. It was discovered that
networking helps build confidence among women entrepreneurs and
also gives them new perspectives and ideas about business ventures.
Women entrepreneurs are better at networking and may outperform
men if given the opportunity to build formal and informal ties (Rashid,
S. and Ratten, 2020).

Financials
It assesses a woman entrepreneur's knowledge of available financial
resources, her ability to obtain credit and start-up money, her
comprehension of the specifics of business formation, and the
responses of lending institutions. Women business owners face a

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