







































Humanitas: Indonesian Psychological Journal  

Vol. 22 (1), February 2025, 74-86 

ISSN:  2598-6368(online); 1693-7236(print)                                                                 

       humanitas@psy.uad.ac.id             http://journal1.uad.ac.id/index.php/Humanitas            10.26555/humanitas.v22i1.934 

The contribution of psychological capital in improving work-family 

balance in female entrepreneurs 

Tiara Alfiani Saputri, Ismarli Muis, Hilwa Anwar 

Faculty of Psychology, Universitas Negeri Makassar, Makassar, Indonesia  

Corresponding author: ismarli.muis@unm.ac.id 

 

This is an open access article under the CC BY-SA license. 

 

Introduction 

The rise of women's entrepreneurship marks a significant shift in gender equality and 
economic participation. In Indonesia, women lead approximately 60% of the 65 million 
Micro, Small, and Medium Enterprises (MSMEs) as of 2019 (Legal and Public Relations 
Bureau of the Ministry of Women's Empowerment and Child Protection, 2021). This 
substantial representation stems primarily from economic necessity, with the 2020 Global 
Entrepreneurship Monitor (GEM) data indicating that 75.8% of Indonesian women pursue 
entrepreneurship due to limited job opportunities and the desire for flexible working 
arrangements to balance family responsibilities (Elam et al., 2021; Hudson Breen et al., 2017; 
Kumalasari, 2018).  

While entrepreneurship offers women the flexibility to manage both professional and 
family responsibilities, this apparent advantage often presents its own challenges. Research 
indicates that entrepreneurs, despite their autonomy, face unique needs than traditional 
employees (Annink & den Dulk, 2012). This is particularly true for married female 
entrepreneurs who must balance business responsibilities with their roles as partners, 
caregivers, and mothers (Mathew & Panchanatham, 2011). The pressure intensifies due to 
high expectations in household management and caregiving responsibilities (Hosseini et al., 
2024; Vieira et al., 2018), often leading to work-family conflicts that can affect both business 

ARTICLE  INFO 

 

ABSTRACT  

 

Article history 

Received July 11, 2024 

Revised February 12, 2025 

Accepted February 26, 205 

 The flexibility of entrepreneurship allows individuals to set their working 
hours. However, juggling family responsibilities with work demands can 
increase stress for female entrepreneurs. This study investigates the 
impact of psychological capital, including self-efficacy, hope, resilience, 
and optimism, on the work-family balance of female entrepreneurs. The 
research involved 302 female entrepreneurs who completed the Work-
Family Balance Scale and the Psychological Capital Questionnaire 
(PCQ) through an online survey. The research suggests that 
psychological capital positively influences work-family balance and 
emphasizes the significant role of self-efficacy and resilience as the 
primary predictor of work-family balance. Moreover, the duration of 
business operation, educational attainment, and the size of the workforce 
were found to have a notable impact on work-family balance. 
Interestingly, the number of children was determined to have no effect. 

     

 
Keywords 

Female Entrepreneurs 

Psychological Capital 

Work-family Balance 

 

 

 

mailto:humanitas@psy.uad.ac.id
http://journal1.uad.ac.id/index.php/Humanitas
https://doi.org/10.26555/humanitas.v22i1.934
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       Tiara Alfiani Saputri et.al (The contribution of psychological capital in improving work-family….)  

performance and family well-being (Rahimi et al., 2024; Rembulan et al., 2016; Reynolds & 
Renzulli, 2005; Schieman et al., 2009; Tuffour et al., 2021). 

The challenge of managing work-family balance can have detrimental effects on the 
well-being of married female entrepreneurs. Emphasizing work over family can lead to 
reduced family engagement, heightened conflict, limited involvement in child development, 
shorter breastfeeding periods, depression, and diminished overall quality of life. Conversely, 
prioritizing family commitments can result in stress and decreased job satisfaction due to 
familial pressure (Chittenden & Ritchie, 2011). Successful management of the work-family 
balance can enhance commitment, productivity, and leadership potential among female 
entrepreneurs, positioning them for career advancement (Sahay & Lall, 2024). Therefore, it 
is crucial for female entrepreneurs to strive for work-family balance to ensure the welfare of 
both their businesses and their families. 

The concept of work-family balance, defined as satisfaction in meeting both work and 
family demands Valcour (2007), becomes crucial in this context. Recent research suggests 
that psychological capital—comprising self-efficacy, resilience, optimism, and hope—plays 
a vital role in achieving this balance (Luthans et al., 2007). The Conservation of Resources 
(COR) theory provides a theoretical framework explaining how psychological capital 
contributes to work-family balance. According to COR theory, individuals with strong 
psychological resources can better manage stress and replenish depleted resources when 
facing demanding situations (Hobfoll, 1989). 

Each component of psychological capital potentially contributes uniquely to work-
family balance. Self-efficacy enables women entrepreneurs to maintain confidence in their 
ability to manage multiple roles effectively. Resilience helps them bounce back from work-
family conflicts and adaptively respond to challenges. Optimism promotes positive 
expectations about managing dual roles, while hope facilitates goal-directed energy and 
alternative pathways to achieve work-family balance (Luthans et al., 2007). 

While previous research has explored the relationship between psychological capital 
and work-family balance in traditional employment settings (Anushi et al., 2022; Bakri et al., 
2022; Sarwar et al., 2021; Sen & Hooja, 2015), limited attention has been paid to female 
entrepreneurs who face distinct challenges. Unlike employees who manage assigned tasks, 
entrepreneurs must handle additional responsibilities such as strategic planning, decision-
making, and risk management in uncertain business environments (Gibb, 2000). These unique 
demands may influence how psychological capital operates in achieving work-family balance 
among female entrepreneurs. Based on the explanation above, the following hypothesis is 
proposed: 
H1: Psychological capital positively influences work-family balance among female 
entrepreneurs. 

Research indicates that self-efficacy is positively linked to improved problem-solving 
skills and proactive behavior, which are vital for achieving work-family balance. For instance, 
Akanni et al. (2023) found that self-efficacy significantly predicts work-family balance. 
Employees with sufficient belief in their capacity to plan and execute tasks at work and family 
domains are most likely to attain adequate balance (Akanni et al., 2023). Consequently, as 
female entrepreneurs cultivate a strong sense of self-efficacy, they enhance their ability to 
integrate their professional and personal lives, leading to improved work-family balance and 
overall well-being. Based on the explanation above, the following hypothesis is proposed:  
H2: Self-efficacy positively influences work-family balance among female entrepreneurs. 

Hope, defined as a positive motivational state rooted in successful planning and goal 
attainment, plays a crucial role for female entrepreneurs. A strong sense of hope enables them 
to set realistic goals and devise effective strategies for managing time and resources, 
enhancing their resilience in overcoming challenges. This optimistic perspective fosters a 
harmonious integration of their professional and personal lives, ultimately improving work-
family balance. Research by Siu (2013) and Christy et al. (2021) supports the notion that hope 



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Tiara Alfiani Saputri et.al (The contribution of psychological capital in improving work-family….) 

significantly predicts work-family balance. Based on the explanation above, the following 
hypothesis is proposed: 
H3: Hope positively influences work-family balance among female entrepreneurs. 

Based on research conducted by Bagire et al. (2023) indicates that resilience 
significantly predicts work-family balance. Resilience, defined as the ability to endure and 
thrive amid challenges, enables female entrepreneurs to maintain a positive mindset, recover 
from setbacks, and develop effective coping strategies. This adaptability not only aids in 
overcoming work-related obstacles but also fosters a supportive family environment, 
resulting in a more harmonious work-family balance.  Based on the explanation above, the 
following hypothesis is proposed: 
H4: Resilience positively influences work-family balance among female entrepreneurs. 

An optimistic outlook allows individuals to tackle challenges with a constructive and 
proactive mindset. Female entrepreneurs, who often juggle business and family 
responsibilities, may experience stress and conflict; however, those who maintain optimism 
are more likely to see obstacles as opportunities for growth (Bakri et al., 2022). Consequently, 
optimism reduces work-family conflict and enhances satisfaction and well-being in both 
personal and professional spheres. Based on the explanation above, the following hypothesis 
is proposed: 
H5: Optimism positively influences work-family balance among female entrepreneurs. 

The findings will extend our understanding of psychological capital's role in 
entrepreneurial contexts and inform interventions supporting women entrepreneurs in 
achieving work-family balance. This research is particularly timely given the growing 
number of female entrepreneurs in Indonesia post-COVID-19 pandemic and can guide 
organizations developing support programs for aspiring female entrepreneurs. 

Method 

Research Design 

This study employed a quantitative approach examining the relationship between 
psychological capital (predictor variable) and work-family balance (outcome variable) 
among female entrepreneurs in Indonesia. 

Participants 

The research was executed in Indonesia and involved 302 female entrepreneurs who met 
specific criteria: (1) married with children under 18 years old, (2) owning and managing their 
businesses daily, and (3) having operated their businesses for at least 1 year. Participants’ 
ages ranged from under 20 to 50 years, with business experience spanning from 1 to 20 years 
and the number of employees varying from 0 to 30. On average, participants had 1 to 8 
children. The sample selection employed an accidental sampling technique, in which the 
samples were randomly chosen based on the research theme. The collected data were 
analyzed descriptively to highlight the participants' characteristics, as presented in Table 1.
 Table 1 presents the demographic information of 302 participants. The sample 
predominantly consisted of entrepreneurs with 1-10 years of business experience (90.4%), 
while the remaining 9.6% had more than 10 years of experience. Specifically, 48% female 
entrepreneurs completed their education at the Primary and Secondary Education level. 
Additionally, 67.2% female entrepreneurs have 1-2 children, and 48% have 1-2 employees. 

 

 

 



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       Tiara Alfiani Saputri et.al (The contribution of psychological capital in improving work-family….)  

Table 1 

Participant Demographic Data 

 Type Frequency Percentage 

Length of Business 
1-10 years 273 90.4 

>10 years 29 9.6 

Level of Education 

Primary and Secondary Education 145 48 

Diploma 32 10.6 

Bachelor 125 41.4 

Number of Children 

1-2 children 203 67.2 

3-5 children 89 29.5 

6-8 children 10 3.3 

Number of Employees 

0 employees 91 30.1 

1-2 employees 145 48 

3-5 employees 40 13.2 

6-8 employees 9 3 

>8 employees 17 5.6 

Instrument 

The data was collected by administering an online questionnaire through the Google Forms 

platform. Researchers shared links to the survey on different social media platforms including 

Facebook, LinkedIn, Instagram, Twitter, and WhatsApp groups. Participants were asked to 

provide informed consent at the beginning of the questionnaire, agreeing to participate in the study, 

and were assured that all responses would be kept confidential.  

We modified the scale by translating it into Indonesian using the International Test 

Commission (ITC) procedure. This process involved two types of translators: native translators 

and informed translators who are professionals in their respective fields. Following the translation 

of the items, we refined them to suit the research context, which centered on entrepreneurship. 

Subsequently, we conducted tests to assess the reliability and discriminative power of each item. 

Work-Family Balance Scale. The concept of work-family balance refers to the 

overall satisfaction experienced by female entrepreneurs as they navigate the demands of 

their roles as business owners and mothers. Satisfaction with work–family balance was 

measured by Valcour's (2007) work-family balance scale, which focuses on three key 

aspects: time, attention (energy), and the integration of work and family demands. The scale 

comprises five items, such as “the way you divide your time between work and personal or 

family life”, and “the way you divide your attention between work and home”. Participants 

were asked to rate these items on a five-point Likert scale ranging from "Very dissatisfied" 

(1) to "Very satisfied" (5). The reliability of this scale, as measured by Cronbach's alpha, 

was found to be 0.85, indicating high internal consistency. Additionally, confirmatory factor 

analysis provided evidence of the validity of the scale, with factor loadings ranging from 

0.60 to 0.90, demonstrating the robustness of the scale's items. 

Psychological Capital Questionnaire. The concept of psychological capital 

represents a positive attribute found in female entrepreneurs, characterized by traits such as 

self-efficacy, resilience, optimism, and hope. To assess the psychological capital of female 

entrepreneurs, we utilized the Psychological Capital Questionnaire (PCQ) by Luthans et al. 

(2007). This measuring tool comprises 21 favorable items and three unfavorable items, 

which are categorized into four dimensions: self-efficacy, resilience, optimism, and hope. 

An example of an item in the self-efficacy dimension is "I feel confident in analyzing long-

term problems to find solutions". The hope dimension is "If I face a problem in business, I 



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Tiara Alfiani Saputri et.al (The contribution of psychological capital in improving work-family….) 

can think of many ways to solve it". The resiliency dimension is "I am able to overcome 

difficult times in running a business because I have experienced difficulties before". The 

optimism dimension is "In running a business, I have hope and believe that there will always 

be wisdom in every problem". 

Participants rated their responses on a five-point Likert scale, ranging from "Strongly 

disagree (1)" to "Strongly agree (5)." The reliability calculation using Alpha Cronbach 

yielded a coefficient of 0.94, indicating high reliability. Additionally, reliability coefficients 

for the four dimensions of psychological capital were as follows: self-efficacy (0.79), hope 

(0.81), resilience (0.86), and optimism (0.74). The validity of the psychological capital scale, 

consisting of 24 items, was further confirmed through confirmatory factor analysis, with 

factor loadings ranging from 0.31 to 0.85, ensuring that all items were appropriately 

represented in the scale. 

Data Analysis 

The normality test was conducted using the One-Sample Kolmogorov-Smirnov analysis in 

SPSS 25.0 for Windows. The results indicated a non-normal distribution with a significance 

value of <0.05. To address this, we applied the sample bootstrap method (N=2000) to 

account for the non-normal distribution of the data. 

To test the research hypothesis, we conducted statistical analysis using the SPSS 25.0 for 

Windows. The data analysis technique employed in this study involved a regression test, which 

aimed to examine the relationship and influence between the two variables. The statistical analysis 

was conducted in two steps: first, a simple regression analysis was used to ascertain the influence 

of psychological capital in general on work-family balance, and second, multiple linear regression 

with enter method. Additionally, we used one-way ANOVA to examine how demographic factors 

affect work-family balance, helping us identify significant differences and provide targeted 

recommendations for female entrepreneurs. 

Results  

A simple regression analysis has been carried out to determine the effect of work-family 
balance and psychological capital between two variables. The results of regression analysis 
found that overall psychological capital contributed to work-family balance (R2 = 0.61; p = 
.001; p < 0.05) (see Table 2).  

Table 2 

Result of Simple Regression 

Variable 

Unstandardized 

Coefficients 

Standardized 

Coefficients Beta 

t p 

B Standards Error 

Constant 1.17 0.94  1.25  

Psychological Capital 0.20 0.01 0.78 21.86 0.001* 

Note: *p < 0.05 with R = 0.78, R2 = 0.61, and F = 477.69 

 

 

 

 

 



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Table 3 

Result of Multiple Regressions of Aspect of Psychological Capital Toward Work-Family 

Balance 

Variables 

Unstandardized 

Coefficients 

Standardized 

Coefficients Beta 

t p 

B Standard Error 

Constant 1.69 0.99  1.69 0.10 

Self-efficacy 0.27 0.06 0.33 5.19 0.001* 

Hope 0.11 0.06 0.12 1.80 0.07 

Resilience 0.29 0.06 0.31 4.62 0.001* 

Optimism 0.12 0.06 0.20 1.86 0.06 

Note: *p < 0.05; R = 0.79; R2 = 0.62; F = 121.95 

A one-way ANOVA test was conducted for additional analysis, yielding significant 

results regarding work-family balance across different factors such as length of business, 

level of education, and number of employees (refer to Table 4). Specifically, the study found 

significant differences in work-family balance based on the number of employees (p = 0.001 

< 0.05), length of business (p = 0.03 < 0.05), and level of education (p = 0.04 < 0.05). 

However, there was no significant difference in work-family balance based on the number 

of children (p = 0.09 > 0.05).  

Table 4 

Results of the one-way ANOVA work-family balance test and demographic data 

Variable Demographic Data F Mean p 

Work-

Family 

Balance 

Length of 

Business 

1-10 years 
4.17 

21.59 
0.04* 

>10 years 20.21 

Level of 

Education 

Primary and Secondary Education 

5.07 

20.88 

0.01* Diploma 21.16 

Bachelor 22.20 

Number of 

Children 

1-2 children 

2.44 

21.16 

0.09 3-5 children 22.01 

6-8 children 22.60 

Number of 

Employees 

0 employees 

4.53 

20.30 

0.001* 

1-2 employees 21.84 

3-5 employees 22.38 

6-8 employees 23.33 

>8 employees 21.46 

Note. *p < 0.05. 

Discussion 

The primary objective of this study is to investigate the influence of psychological capital 
on achieving work-family balance among female entrepreneurs, particularly those with 
children. The findings reveal that possessing psychological capital concurrently can 
contribute to a 61.4% satisfaction derived from of female entrepreneurs of balance their work 
and family life. These results are consistent with prior research on the relationship between 
psychological capital and work-family balance (Anushi et al., 2022; Christy et al., 2021; Sen 
& Hooja, 2015; Siu, 2013).  

Several previous studies (Anushi et al., 2022; Bakri et al., 2022; Christy et al., 2021; 
Siu, 2013) have highlighted variations in how each component of psychological capital such 
as self-efficacy, hope, resilience, and optimism—affects the enhancement of work-family 
balance. The findings of Christy et al. (2021) demonstrated that all dimensions of 
psychological capital consistently influence work-family balance. Conversely, Anushi et al. 



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(2022) identified self-efficacy, hope, and resilience as being related to work-family balance, 
while Bakri et al. (2022) found that only efficacy and optimism are associated with it. In 
contrast to these studies, our research indicates that only self-efficacy and resilience have a 
significant relationship with work-family balance. 

This research identified self-efficacy and resilience, components of psychological 
capital, as key contributors to a balanced work-family life. Notably, self-efficacy enhances 
individuals' confidence in managing work and family responsibilities, fostering a proactive 
problem-solving approach. This capability leads to successful navigation of challenges, 
thereby increasing satisfaction in both work and family roles (Chan et al., 2015). Although 
studies on the link between self-efficacy and work-family balance are limited, a positive 
relationship has been established (Akanni & Ajila, 2021; Situmorang & Wijayanti, 2017). 

Individuals with high self-efficacy are driven to meet challenging goals, making their 
beliefs essential for maintaining resilience during psychological challenges (Luthans et al., 
2007). For female entrepreneurs, high self-efficacy enhances resilience, aiding in balancing 
entrepreneurial and maternal roles, and leading to satisfaction in both areas. Research by 
Santoro et al. (2020) indicates that resilience and self-efficacy are complementary, playing 
a crucial role in enhancing perceptions of personal and business success. Thus, female 
entrepreneurs should strengthen their confidence in managing dual responsibilities, which 
can be achieved by observing the success of peers in similar situations. 

This study highlights the critical role of resilience in achieving work-family balance, 
particularly for female entrepreneurs. Resilience comprises two key components in 
psychological capital assessment (Masten, 2001). The first component involves recognizing 
potential threats, enabling individuals to identify stressors that may disrupt their work-family 
balance, such as increased workloads or family obligations. The second component involves 
a positive response and adaptation process, allowing individuals to implement effective 
coping strategies in the face of inevitable challenges. Ultimately, resilience empowers 
female entrepreneurs to navigate their responsibilities, enhancing well-being and satisfaction 
in both personal and professional domains. 

Research indicates a positive relationship between resilience and work-family balance 
(Krisor et al., 2015; Liossis et al., 2009; Wayne et al., 2020). Resilient female entrepreneurs 
tend to maintain a positive outlook, viewing challenges as opportunities for growth, which 
enhances their adaptability in demanding situations. For instance, they may reorganize their 
schedules or delegate tasks to manage increased family obligations, thereby achieving 
balance and satisfaction in both personal and professional domains. Balancing work and 
family can be highly stressful, but resilience equips female entrepreneurs with the ability to 
manage stress effectively. Resilient individuals are better at regulating their emotions and 
maintaining a calm, composed demeanor under pressure. Additionally, resilience fosters 
problem-solving skills, enabling female entrepreneurs to develop proactive strategies that 
facilitate work-family balance. For example, they may establish flexible business structures, 
such as remote work options or adaptable work hours, to accommodate family 
responsibilities without compromising business growth.  This resourcefulness helps them 
create systems that support both their business and family needs. Resilience, as the ability to 
"bounce back," is a crucial resource that influences female entrepreneurs' work, family 
dynamics, and overall well-being (Krisor et al., 2015). 

While prior studies associate hope and optimism with achieving work-family balance 
(Christy et al., 2021; Das & Singh, 2023; Siu, 2013), this study found no significant impact, 
aligning with Sen and Hooja (2015), who similarly reported no correlation between hope, 
optimism, and work-family balance. The unique challenges faced by female entrepreneurs 
in balancing professional and personal responsibilities can explain this phenomenon. While 
hope in psychological capital, as defined by Luthans et al. (2007), emphasizes energy and 
goal-directed planning, the reality of managing a business often involves unexpected 
obstacles, such as fluctuating market conditions, demanding clients, and family obligations 



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that disrupt even the best-laid plans. These competing demands can overwhelm female 
entrepreneurs, leading to frustration when their aspirations for balance remain unmet. 
Additionally, the pressure to excel in both work and family roles can create conflict, 
hindering their ability to maintain a positive outlook and effectively leverage their hopes. 

This study reveals that optimism does not significantly enhance work-family balance. 
Research by Kipkosgei (2022) indicates that while entrepreneurs are often seen as 
enthusiastic and risk-taking, they frequently experience negative affective states such as 
stress, fear, and anxiety, which adversely impact their well-being. Additionally, 
entrepreneurs grapple with significant uncertainty and numerous questions about the future 
(Block et al., 2022). This context renders female entrepreneurs particularly susceptible to 
negative thinking, hindering their ability to convert optimism into effective strategies for 
achieving work-family balance. Consequently, the disparity between their optimistic beliefs 
and the practical challenges they face results in lower satisfaction in both professional and 
personal domains, underscoring the limitations of optimism in facilitating work-family 
balance for female entrepreneurs. 

One notable finding of this study is that certain demographic factors, such as the length 
of time in business, educational attainment, and the number of employees, significantly 
impact the work-family balance of female entrepreneurs. This finding offers a significant 
contribution as it highlights a fundamental distinction from previous studies that examined 
psychological capital and work-family balance in the entrepreneurial context. This research 
indicates that female entrepreneurs who have been in business for over 10 years generally 
experience a higher level of work-family balance compared those in the 1-10-year range. 
These results align with previous research (Christy et al., 2021), highlighting that businesses 
with a long operating history (>20 years) tend to demonstrate superior work-family balance 
compared those in the short-term category (<5 years). Female entrepreneurs often struggle 
with balancing work and family responsibilities during the early stages of their businesses. 
This situation is often attributed to their heightened dedication to business innovation during 
the early stages, leading to greater investment of time and focus on work rather than family 
commitments (Zerwas, 2019).  

An additional finding reveals that the level of education among female entrepreneurs 
significantly impacts their work-family balance. Those with undergraduate degrees 
demonstrate higher levels of balance compared to individuals with primary or secondary 
education. This correlation suggests that education equips female entrepreneurs with the 
experience and skills necessary to implement flexible work strategies and manage their 
routines effectively. Higher education fosters critical cognitive and managerial skills, such 
as strategic planning, financial literacy, and decision-making, which enable entrepreneurs to 
structure their businesses in ways that accommodate family obligations without 
compromising professional success. 

Moreover, education enhances access to valuable networks and resources that can 
further support work-family balance. University graduates are more likely to be exposed to 
business mentorship programs, entrepreneurial incubators, and industry networks that 
provide guidance on managing both personal and professional responsibilities. Additionally, 
they tend to have greater familiarity with digital tools and technological solutions that 
streamline work processes, allowing for more efficient time management and task 
delegation. These advantages create an environment where educated female entrepreneurs 
can implement proactive strategies to reduce role conflicts and maintain equilibrium between 
work and family demands. This finding aligns with Kromydas (2020) which found that 
educational achievement modestly influences work-family balance among women across 17 
European countries, as it fosters essential skills such as time management and problem-
solving, facilitating the navigation of work-family complexities. 

The size of the workforce significantly influences the work-family balance of female 
entrepreneurs. Having employees allows for task delegation, reducing workload and stress, 



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and enabling a focus on strategic decision-making and business growth while freeing time 
for family obligations. Entrepreneurs who operate as sole proprietors often find themselves 
overwhelmed by the need to manage every aspect of their business, from daily operations to 
financial planning, leaving little flexibility to attend to family responsibilities. In contrast, 
those with a dedicated workforce can distribute operational tasks, ensuring business 
continuity while mitigating role strain. Zerwas (2019) similarly found that female 
entrepreneurs managing their businesses alone often struggle with work-family balance, 
whereas those with employees can more easily achieve this balance by delegating 
responsibilities. Consequently, they can dedicate more time to their families, enhancing 
satisfaction in both work and personal life. 

This research shows that the presence of children does not significantly impact female 
entrepreneurs' work-family balance due to various influencing factors. This finding contrasts 
with Valcour's (2007) study, which suggested that more children negatively affect work-
family balance. While having children can increase responsibilities, it is not solely the 
number of children that determines balance; several factors, such as the age of the children, 
social support, and available resources for entrepreneurs, also play a crucial role (Aras et al., 
2022; Leung et al., 2020; McNamara et al., 2013). Younger children require more care, 
creating challenges, while older, more independent children reduce demands (Zerwas, 
2019), allowing for greater flexibility in managing work responsibilities.  

Moreover, access to social support—such as spouses, extended family members, or 
professional childcare services—can significantly alleviate the burden associated with 
parenting, enabling female entrepreneurs to sustain both their business operations and family 
responsibilities effectively. Entrepreneurs with strong networks often leverage this support 
to mitigate work-family tensions, whereas those with limited assistance may struggle to 
maintain balance.  

In our study, this represents a limitation that needs to be addressed, as the analysis did 
not thoroughly consider the variations in children's ages that could influence the work-family 
balance. Future research should adopt a more nuanced approach by exploring how different 
stages of child development interact with entrepreneurial work structures, social support 
systems, and adaptive business strategies. This would provide a more comprehensive 
understanding of how female entrepreneurs navigate work-family balance across diverse 
family and business contexts. 

This research has implications for how female entrepreneurs can enhance their work-
family balance by developing their psychological capital which can be achieved through 
targeted interventions such as attending training sessions or seminars on the importance of 
psychological capital and work-family balance, utilizing childcare support services, and 
leveraging technology to efficiently manage work and family schedules, as well as fostering 
supportive networks that provide emotional and practical assistance. In addition, 
policymakers and business support organizations can play a crucial role by designing 
initiatives that promote resilience-building programs tailored for female entrepreneurs. This 
could include mentorship programs that connect experienced female business owners with 
emerging entrepreneurs to share strategies for overcoming work-family conflicts. Financial 
institutions and investors should also recognize the unique challenges faced by female 
entrepreneurs and develop funding models that allow for more flexible financial 
arrangements, such as grants or microloans that support business continuity during family-
related disruptions.  

However, limitations exist. First, the study excluded the age of children and its impact 
on female entrepreneurs without children, which may influence work-family dynamics 
across different child development stages. Methodological bias and a non-normal sample 
distribution, influenced by age or socio-economic factors, further limit generalizability. 
Future research should address these gaps with diverse samples and methods to ensure 
broader applicability. 



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Conclusion 

The research underscores the importance of psychological capital and work-family balance for 
female entrepreneurs in Indonesia. The findings demonstrate a positive correlation between 
psychological capital and work-family balance, indicating that higher psychological capital 
correlates with better work-family balance. Furthermore, the study emphasizes the influential roles 
of self-efficacy and resilience as predictors of work-family balance within the dimensions of 
psychological capital. This study also identifies key findings indicating that demographic factors, 
such as business tenure, number of employees, and education level, significantly influence the 
work-family balance of female entrepreneurs. 

 

Declarations 

Author’s Contributions. All authors contributed to the research drafting and design process. 
ATAS wrote the manuscript draft, collected data, and analyzed the data. IM contributed to 
providin guidance on research direction and data analysis, as well as conducting revision, and 
refinement of the manuscript. HA contributed to providing advice on research directions. All 
three authors have read and approved the final manuscript. 
Funding. The researchers received no financial support for this study.  
Conflict of Interest. The authors have no potential conflicts of interest regarding this article's 
research, authorship, and publication. 
Consent to Participate. Informed consent was obtained from the participants, and the data 
obtained were anonymized before analysis and publication. 
Consent for Publication. The authors agree to submit the manuscript for publication. 
Acknowledgments. Not Applicable. 

 

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