Entrepreneurship and Gender Differences

This assignment involves analyzing a questionnaire designed for entrepreneurs, focusing on their perceptions of the benefits and challenges of starting a business, particularly regarding gender differences. The questionnaire covers topics like perceived skills required for entrepreneurship, societal influences on women's participation, financial support access, and the impact of entrepreneurship on employment rates.

Gender diversity and the role
it plays in the development
of the entrepreneurial sector
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ABSTRACT
Consumer satisfaction is the primary responsibility of business organisations. There is no chance
of gender discrimination in preparation of strategies for attracting customers. But when
considering entrepreneurship, gender diversification exists since ages. As per the researches
conducted by GEM i.e. Global Entrepreneurship Monitor, role of male and females in growth of
entrepreneurial sector is quite evident. The impact of gender diversity is quite vast and leaves a
deep imprint over every industrial sector. The prevalence of male dominance in the business
societies existed till the end of 20th century. However, female entrepreneurs increased and
emerged as competent slots for development in the complete organisational sector. There are
certain barriers experienced by female entrepreneurs which include economic, social, cultural,
etc. that had affected the participation in entrepreneurship. The urge for more employment
opportunities and innovative ideas has given significant platform for female entrepreneurs to
explore their talent and survive in this world of rigorous competition.
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Table of Contents
CHAPTER 1 : INTRODUCTION...................................................................................................1
1.1 Background of Study........................................................................................................1
1.2 Research aim....................................................................................................................2
1.3 Research Objectives.........................................................................................................2
1.4 Research Questions..........................................................................................................2
1.5 Rationale for research.......................................................................................................2
1.6 Focus and purpose............................................................................................................3
1.7 Framework and analysis...................................................................................................3
1.8 Dissertation structure........................................................................................................4
CHAPTER 2 : LITERATURE REVIEW........................................................................................5
2.1 Introduction......................................................................................................................5
2.2 Concept of male and female entrepreneurship.................................................................5
2.3 Barriers faced by female entrepreneurs............................................................................7
2.4 Role of male vs female entrepreneurship in development of entrepreneurial sector.......9
2.5 Different ways used by male to enter business when compared with female entrepreneurs
..............................................................................................................................................10
CHAPTER 3 : RESEARCH METHODOLOGY..........................................................................12
3.1 Introduction....................................................................................................................12
3.2 Research philosophy.......................................................................................................12
3.3 Research design..............................................................................................................12
3.4 Research Approach.........................................................................................................13
3.5 Research Strategy...........................................................................................................13
3.6 Data collection method...................................................................................................14
3.7 Sampling.........................................................................................................................14
3.8 Data analysis...................................................................................................................15
3.9 Ethical consideration......................................................................................................15
3.10 Research limitations...............................................................................................................16
CHAPTER 4 : DATA ANALYSIS...............................................................................................17
4.1 Introduction....................................................................................................................17
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4.2 Discussion.......................................................................................................................17
CHAPTER 5 : CONCLUSION AND RECOMMENDATION....................................................31
5.1 Conclusion......................................................................................................................31
5.2 Recommendation............................................................................................................32
REFERENCES..............................................................................................................................34
QUESTIONNAIRE..............................................................................................................38
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ACKNOWLEDGEMENT
This research work would not have been completed without proper guidance of my mentor and
teachers. I hereby acknowledge my work by providing sincere thanks to my teachers, family and
friends who have supported me in every aspect to complete it with effectiveness. Furthermore,
they have helped me to not loose hope and patience especially during the days of data collection
and presentation. I am sincerely obliged to be under their guidance.
Name:
Signature:
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CHAPTER 1 : INTRODUCTION
1.1 Background of Study
Ultimate aim of any firm is to gain maximum profit, this is only possible when they are able to
understand the taste and preference of customers. When improvement is made in the products
and services that are delivered by the firm, then it becomes favourable enough to attract more
and more customers ( Hoogendoorn, Oosterbeek and Van Praag, 2013). In this modern world,
workers are the face of an organization as they have direct interaction customers. They are the
one who presents the products and services. In this context, there are both male and females who
are considered to be equally important who put on their full efforts in order to reach out the goals
and objectives of the firm. There are the different set of issues that are faced in order to develop a
business. Further, there are conditions in which different individuals have the diverse set of skills
and capabilities. More specifically, male and female have their own set of skills and learning
perspective that contribute effectively towards the development or business. There are the certain
set of motivational factors that are considered by individuals. When these are not satisfied, then
it has the negative impact on the business (Richard, Kirby and Chadwick, 2013). Different
countries around the world have the diverse set of perception towards the culture that is being
followed and from the culture, they are able to develop their knowledge and skills. With different
culture, it includes a diverse type of perception over others. There are conditions in which people
think or the perception that some of the people have is that male employees are more capable
when compared with female workers. This is a type of negative perception that individuals and it
high affect the performance of employees in a negative manner. GEM (Global Entrepreneurship
Monitor) has conducted the different type of researches around the world in order to know the
growth in entrepreneurial ventures. More specifically, GEM has covered about 75% of the world
population. Present research is focused on Trinidad and Tobago which is in Caribbean and GEM
has conducted their research for this particular area since 2010. This research is focused on
understanding the concept of male and female entrepreneurship (Joecks, Pull and Vetter, 2013 ).
Further, it evaluates the role of male vs female entrepreneurship in a development of the
entrepreneurial sector. Further, it includes different ways used by the male to enter business
when compared with female entrepreneurs. Lastly, the different set of recommendation will be
made with the help of which proper support can be provided to entrepreneurial sector. In
accordance with the research done by GEM, it is identified that the rate of Total Entrepreneurial
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activity has reduced in the year 2014 when compared with 2013. Main reason identified for this
is due to declining in nascent entrepreneurial activity.
1.2 Research aim
Aim: To understand the impact of male vs female entrepreneurship and their role in the
development of the entrepreneurial sector: A study on Trinidad and Tobago, Caribbean.
1.3 Research Objectives
Objectives:
 To determined concept of male and female entrepreneurship
 To evaluate the role of male vs female entrepreneurship in the development of the
entrepreneurial sector.
 To understand different ways used by a male to enter business when compared with
female entrepreneurs.
 To make recommendation effective way through which gender diversity can support
development in the entrepreneurial sector.
1.4 Research Questions
 What is the concept of male and female entrepreneurship?
 What is the role of male vs female entrepreneurship in the development of
entrepreneurial sector ?
 What are different ways used by the male to enter business when compared with female
entrepreneurs ?
1.5 Rationale for research
In accordance with the current dissertation, it will be focused on understanding the issues and
the positive impact that gender diversity has on the development of the entrepreneurial sector. In
the particular area that is being selected (Moog, Wernerand Backes-Gellner, 2015 ). There are
issuers that are faced by them, as stated, there are the different set of perception that individuals
have. More specifically, the rate of preferences that the local people at Trinidad and Tobago have
is not favourable as per the culture that is followed by them, women are not considered to be
performing any type of job for the organisation. Instead, they need to focus more on their house
old activities and are not allowed to get out to work and earn money.
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1.6 Focus and purpose
As per the dissertation, it can be stated that the main focus is will be on both male and female
workers. Different type of treatment is given for both these genders. With time there are many
changes that have taken place but preference is generally given to male employees (Richard,
Kirby and Chadwick, 2013 ). The area of study will enable to understand the type of
discrimination that takes place for the females in the workplace. Further, the main purpose of this
research will be to understand the impact of gender diversity and its role in developing
entrepreneurial sectors. There are many starts up firms that are being introduced in this particular
areas and the impact of gender diversity will be discussed.
1.7 Framework and analysis
In order to carry out the research in an effective manner, it is important to have proper
framework and analysis made so that effective decision can be made. In this context, below
given are the different steps that will be followed:
Research design: there are four different type of research design that can be used by the
investigator (Clarke and Fujimura, 2014 ). In this context, it includes case study, correlation,
exploratory and descriptive. Among all these research will make use of descriptive research
design.
Research philosophy: It enables to determine the strategy that will be adopted through
which data will be examined and collected. These are of two type which is interpretivism and
positivism. With this respect, positivism will be used by the investigator.
Research approach: These are of two type which is deductive and inductive approach.
All the research that is of quantitative in nature makes use of inductive research approach ( Gale,
Heath and Redwood, 2013). For quantitative research, the deductive approach is used. In the
current research, an investigator will make use of the inductive approach.
Data collection: There is two type of data collection methods, which are secondary and
primary. Both will be applied by the researcher, for collecting primary data, individuals will
make use of the questionnaire. On the other hand, for secondary information, books, journals,
articles, etc. will be used.
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Sampling: It is essential to select the appropriate population that will be helpful enough to
provide relevant information (Karlsson, 2016 ). More specifically, research will make use of
male entrepreneurs in Trinidad. In addition to this, the total sample size will be 20 employees.
Data analysis: As it is a qualitative research, an investigator will make use of thematic
analysis. It is a type of analysis, in which it includes tables, graphs, pie charts, etc.
1.8 Dissertation structure
The dissertation consists of various chapters which as discussed below: Chapter 1 - Introduction: Introduction is the first chapter of the dissertation that
constitutes an overview of the subject of the dissertation. It represents the basic layout of
the study to be conducted. Framework and outline of the study are prepared by it.
Introduction segment stars with providing the title of the research. It provides the brief
discussion about the study so that best outcomes can be formulated. It constitutes
description about the topics and subtopics to be covered in the study. It also links the
study of the selected region on which study is performed. Chapter 2 - Literature review: There are the different type of research that is being
conducted by diverse researchers on the similar topic. In this context, it is helpful enough
to make sure that the current research is being effectively analysed. This way the rate of
information and learning can be raised and this is a type of secondary source. Chapter 3 - Research Methodology: There are the different type of approaches, methods
and techniques that are being used by the research in order to present the data in an
effective manner. It enables to conduct the research in gathering information that is
relevant to the present research. Chapter 4 - Data analysis and findings: In this chapter, all the information that is
collected are proper evaluated and analysed. This is helpful enough to come up with an
appropriate outcome for the research. Thematics is being used for the same and this will
enable to make use of tables, graphs, etc.
 Chapter 5 - Conclusion and Recommendation: It consists of evaluation made for an
overall dissertation. Further, as per the findings made, the proper recommendation is
provided in order to overcome the issues.
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CHAPTER 2 : LITERATURE REVIEW
2.1 Introduction
There are the different type of research that is conducted by many other researchers on similar
topics. There are helpful enough to come up with an appropriate outcome for current research.
This chapter is a type of secondary data that is already being collected by some other person.
This data can be used to conduct the current research in an effective manner (Bruni, Gherardi
and Poggio, 2014 ). Earlier male was considered to be most effective individuals who were able
to conduct their business operations and so they mainly focused on developing their skills and
capabilities. On the other hand, females are considered to be getting married and looking for
their home. With time, there are many changes that have taken place and in this modern world,
the perception has changed in which women have started understanding their skills and they have
stated focusing more on entrepreneurship. In this chapter, different areas are covered and this is
helpful enough to get relevant information about the current research.
2.2 Concept of male and female entrepreneurship
According to Saridakis, Marlow and Storey, ( 2014) entrepreneurship can be determined
as the process in which individuals aim at understanding the opportunities that prevail in the
market and in develop innovations with the help of which new business is developed. As per the
past years, it is being identified that, female entrepreneurs have raised their preferences in order
to take up initiatives towards starting up business (Naguib and Jamali, 2015). More specifically,
there are about 40% of an increase in women who have started running the business in the past 5
years. Out of this 40%, there are about 70% who think that the rate of revenue will be high. As
per Ghani, Kerr and O'Connell, (2014) entrepreneurship can be determined as the key element
that enables to raise the economic condition of the country. In this context, every day
entrepreneurs contribute for the growth of an economy and create job opportunities, reduce
imports, increase exports, innovations, etc. there are the different type of issues that are faced in
each of the countries. For example, in India, entrepreneurs are helpful enough to reduce the rate
of poverty. Further, there are two different ways through which activities related to
entrepreneurship can be measured, one is through total employment and self-employment. The
second one is the examination of different levels starting from start-up to mature enterprise. In
this context, there are four different type of entrepreneurial businesses (Langevang, Gough and
Osei, 2015 ). With this respect, first one is Nascent enterprise. This is a type of business which
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was started last year. Another type of enterprise is Baby, it has started operated between 4 to 42
months. The enterprise that has happened to be operated in more than 42 months is known as
Established enterprise. As per the research conducted by Global Entrepreneurship Monitor, it is
identified that the average early stage entrepreneur in Trinidad and Tobago is of the group from
35 to 44 and this is for both male and female. Further, the majority of the individuals at this
particular place have managed to finance their business personal saving. Moreover, they
understand the risk that is faced in getting help from financial areas.
There are different factors that have been identified which influence individuals to make the
decision for developing a new business. Below given are few of the reasons:
Creativity: Entrepreneurs are able to think out of the box and to come up with appropriate
products are services which support them to earn the huge profit (Marlow and McAdam, 2013).
They are able to understand the type of opportunities that prevail in the market and are also
always up to date so that changes in the environment can be determined and proper services can
be delivered.
Risk taker: There are the different set of a set that is faced by individuals but for all the
risk entrepreneurs are able to come up with an appropriate outcome for the same. Further, they
have that leadership skills that enable to influence other to get combined effort for the plans that
they have developed.
Around the globe, there are both male and female entrepreneurs who are successful
(Carland and Carland, 2015 ). There are some kinds of characteristics which are found both in
men and women entrepreneurs. On the other hand, there are also some characteristics that are
only found in male and only in females. Below given are some of the differences among male
and female entrepreneurs:
Decision making : When compared with both male and female entrepreneur, women take
up time and face difficulty in making decisions. On the other hand, male employees do not face
issues in order to make decisions, they are able to understand the situation and take proper
actions for the same.
Contribution to the economy : Economy of the country is highly benefited with the
efforts that are put by both male and female (Poggesi, Mari and De Vita, 2016). More
specifically, the main focus of male entrepreneurs is on economy and cost that is incurred for
their products and services. On the other hand, for females, the main focus on making the social
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contribution and deliver customers with high-quality services. Further, the rate of risk that taken
by the female is low, they aim at understanding the consequences and taking a decision that will
enable to reduce the rate of losses. However, male entrepreneurs take high risk in relation to
financial activities.
Relationship with employees: Male entrepreneurs are highly task oriented and they
understand the skills that individuals possess and accordingly work is divided (McKenzie and
Woodruff, 2014). On the other hand, female entrepreneurs aim at developing the strong
relationship with their employees and they understand the type of issues that are being faced by
them and accordingly steps are taken to over come them.
According to Henry, Foss and Ahl, ( 2016) there are the certain set of priorities that are
developed by individuals and both male and females and diverse set of priorities for the same.
When the set of goals that are developed are different, then the path determined will also differ.
2.3 Barriers faced by female entrepreneurs
GEM has conducted the survey in which they have asked questions from individuals
within an idea to tart their own business. As per the data which was collected from total 68
counties, it was identified that 76% of the individuals at Trindad and Tobago are confident to
start up their own business. This shows that the rate of opportunities and the confidence that
individuals have is high. There are the different type of problems that are faced by female
entrepreneurs. In this context, below given are some of them:
Financial problems: In order to operate any business, it requires one to have proper
financial support and it is generally identified that females suffer from the shortage of finance.
This type of issue arises as women do not have property in their name in order to make use of it
as collateral. This is generally used with an aim to get funds for the business ( Bruni, Gherardi
and Poggio, 2014). There are the different set of activities that need to be developed when
business is to be operated but due to this issue, female is not able to manage their activities in an
effective manner. In addition to this, banks do not consider females credit worthy and they do not
promote women borrowers. In such situation, it can be stated that females are bound to operate
their business based on their savings. Further, a research has identified that in which it stats that
people to Trindad and Tobago think that entrepreneurship is a good career that can be chosen.
Further, from the research conducted from 2011 to 2014 by GEM, it is identified that people are
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understanding the importance of social media or the benefits of media attention enables to boost
up entrepreneurial ventures.
Stiff competition: It is important to have organisational set up in order to get the huge
amount for advertisement or canvassing. Further, there are many organisations in all the sectors
that deliver customers with similar products and services ( Saridakis, Marlow and Storey, 2014).
They all make use of effective strategies with the help of which they attract more and more
customers. Due to no proper setup, it becomes difficult for them to operate their business
because of stiff competition in order to market their products or services. This type of situation
causes the business to get liquidation.
No support from family: In the majority of families, it is difficult for them to convey the
idea that they have and to convert into a business. The support from the side of family members
is very law. Due to this issue, there are cases in which many of the business does not even get
started (Naguib and Jamali, 2015 ). As per the perception of individuals towards women are not
positive as they are only considered to look after their family and work related to business are
considered to be for the male.
Training: In order to perform any set of work, it requires one to have proper skills and
capabilities so that they will be able to perform them effectively and efficiently (Armannsdottir,
Brindley and Pich, 2016). However, it is identified that women are not able to perform their set
of work in effective manner due to lack of skills. When compared with male, the majority of
individuals have developed through the type of work experience and the situations that are faced
by them. In context, with women, it is difficult for them to develop an idea and have skills that
will support them to achieve their desired goals and objectives.
Developing networks: Male workers are able to develop strong network due to the areas
that they have reached out but when compared with women the areas and the contact that they
have is limited due to which they are not able to develop a strong network in which they are able
to develop their idea and make it into a business ( Bulanova, Isaksen and Kolvereid, 2016).
Lack of proper information: For a business, it is not just enough to have an idea but it is
also essential to have ample information with the help of which business plan can be developed.
With this respect, it is identified that the rate of information that women have related to their
business is low. When information that they possess is low, then it has the high negative impact
and business does not effectively work (Ghani, Kerr and O'Connell, 2014). Further, the rate of
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education that women have is also low in most of the countries and this also affects the business
negatively.
Low risk bearing ability: When compared with men, women have the low rate of risk
bearing capacity. In a business to operate in an effective manner, it is essential to make sure that
one has skills to take up risk and to bear the consequences that are caused by it ( Langevang,
Gough and Osei, 2015). Female analyse the consequence and due to the negative outcomes that
are faced by them, lead them not to take up the risk.
In order to start up a business, it requires individuals to have the skills for seeking
opportunities, effective capabilities, good choice of career and use of media attention. When this
research was conducted with other countries and Trinidad and Tobago, it was identified that all
these areas preference of the people of Trinidad and Tobago are high when compared with other
countries.
2.4 Role of male vs female entrepreneurship in development of entrepreneurial sector
The contribution made by all the entrepreneurs is focused on the development of the economy
and GDP rate. However, as per the type of perception that is included in this condition is
negative that females can contribute effectively towards the growth and development of the
country (Marom, Robb and Sade, 2016). However, when there are proper preference and support
that is made by individuals so as to made the development of the entrepreneurial business, then it
becomes a source of inspiration and also enable to change the perception male have. Further,
there different type of development that takes place when there are proper efforts made by male
and female entrepreneurs (Robson, Chamberlin and Freel, 2016 ). With this respect, solve the
develop in the sector of an entrepreneurial sector are as follows:
Creates employment opportunities: Through entrepreneurs, individuals are able to
develop high employment rate and this is a type of solution to one of the major issues in many
countries (Aidis, Aidis and Weeks, 2016 ). When the rate of employment increases, then the rate
of contribution which is made by them also increases and this is effective enough to raise the rate
of contribution to the country. When both male and female put on their efforts to make the
development of small or large scale business organisations, then the opportunities that are
contributed by them is also high. With time the rate of development that takes place in these
firms also increases and this way more and more workers are involved in the development of the
country (Santos, Roomi and Liñán, 2016).
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Reduces concentration of economic power: This can be determined as the natural
outcome of the business and industrial activity. When there is development in relation with
industry, then this leads to concentration of economic power ( Seedhouse, Johnson and Newbery,
2016). In order to overcome this type of problem, it is essential to focus on the development of
many entrepreneurs who will develop businesses. This can be determined as an effective way
with the help of which the rate of concentration of economic power can be reduced.
Wealth distribution and creating: It enables to stimulate equitable redistribution of
income and wealth towards the interest of the country and for the geographical areas. This is
helpful enough to provide high benefit to larger sections of the society (Antoncic, Auer Antoncic
and Aaltonen, 2016). In addition to this, it also enables to develop more activities and also
provides the multiplier effect in the economy.
Improves standard of living: This can be determined to be the characteristics feature of
economic development for the improvement of the country ( Hsu, Wiklund and Coffey, 2016).
With this respect, it can be stated that the rate of standard for living increases when entrepreneurs
support in the development of new business. Entrepreneurs understand the situation or the type
of problems that are faced by them and focus on making it an opportunity and innovations are
done. With this respect, it is effective enough to improve living standards of people as they are
able to make use of innovations that are helpful to over the type of problems that are faced by
them (Hechavarría, Terjesen and Elam, 2017).
Facilitates over development: As per Armannsdottir, Brindley and Pich, ( 2016) the role
of entrepreneurs is like the catalytic agent that is focused on changes that are can be made for the
development of the country and this results in the chain reaction. The process of industrialisation
is set when an enterprise is set of establishing. All the different type of units that are developed
by them are developed in order focus over the other type of units. This way, it becomes
favourable enough to have an overall development of the area and this increases with the
increase in demand for setting up of more units (Bulanova, Isaksen and Kolvereid, 2016 ). This
enables to develop an environment in which there is enthusiasm and it also boosts up the
development and preference of individuals.
2.5 Different ways used by male to enter business when compared with female entrepreneurs
According to Marom, Robb and Sade, (2016 ) there are the different type of way that are
considered with the help of which individuals are able to get proper support in order to make
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development through which one gets to enter into the business. The type of preference that male
entrepreneurs get is favourable when compared with female. This can be understood, when
female entrepreneurs require financial support, then they are not able to get proper support form
banks (Marom, Robb and Sade, 2016). This is because these services provide prefer to support
those whom they think that they will be able to get return their invest that are made (Robson,
Chamberlin and Freel, 2016). Further, there are the different type of ways that have the negative
impact on females when compared with male entrepreneurs. Below given are some of the ways
that are helpful enough for the male in order to get started with the business:
Support from family: AS business is developed with an idea that is formed and it requires
one of the have the proper analysis made (Richard, Kirby and Chadwick, 2013 ). With this
respect, it is essential that the idea which is developed needs to be trusted by family members.
When there is proper support from family, then it enables to boost up the moral and encourages
to work for achieving the goals and objectives. When compared with women entrepreneurs, the
support from the side of the family is low. This course of action causes one to get demotivated.
Friends: When family support is gained, then come to the support that is provided by
friends (Richard, Kirby and Chadwick, 2013 ). In a context of male entrepreneurs, the rate of
support that they get is high and this is helpful enough to develop positive perception within the
mind related to the idea that the have made for the business. On the other hand, for women
entrepreneurs, support from their friends is also high. This is the main important way that
enables to them to get proper sources through which the business can be stated (Saridakis,
Marlow and Storey, 2014).
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CHAPTER 3 : RESEARCH METHODOLOGY
3.1 Introduction
This can be determined as the instrument that enables to conduct the study in effective
manner. Further, it plays significant role in collecting relevant information related to the research
topic. More specifically, there are different type of techniques, approaches, tools, etc. which
enables to present the research in effective manner ( Mansell, 2015). With this respect, it
includes techniques and tools like data analysis, research design, data collection. Research
philosophy, etc. Further, it is considered to be the most crucial chapter that helps to determine
research problems. Further, it also enables to provide in-depth understanding for the current
research topic.
3.2 Research philosophy
This can be determined to be the brief with the help of which analysis, collection and
examination take place. Further, it also enables a researcher to make the analysis of the sources
that enhance the understanding of the topic (Wiek and Lang, 2016). These are of two types
which are interpretivism and positivism. Among these two, interpretivism aim at the subjective
part of the study. Further, it also considers the responses that is given by individuals for the topic.
Further, it also relays on the interpretation that is made by research in order to obtain data. On
the other hand, positivism research focus on conducting the study depending upon the objectives
that are being set. Further, it also enables to identifying the false factors related to the topic.
There are different type of issues that are faced by women at Trinidad and Tobago. The research
through which this philosophy it done with the help of structural way. When compared with both
philosophies, it can be stated that researcher make use of positivism ( Riedl, Davis and Hevner,
2014 ). This is selected as it is helpful enough to focus on the objectives that are being set for the
research. It also enables to form or develop hypothesis for the research.
3.3 Research design
This can be stated to be the overall tactics in which different type of element of the
research is studied. It is helpful enough to address the problems related to research ( Choy,
2014). In other words, it is considered to be the blue print with the help of which data is
gathered. It enables to develop step by step process that helps to achieve the desired goals and
objectives. Different type of research design are : experimental, exploratory and descriptive.
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Exploratory research is a type of design that is helpful to explore different type of questions and
to come up with appropriate conclusion for the same. Descriptive research focus on the
theoretical aspect and enables to determined the different theories that help in raising
understanding for the research (Bauman, 2013 ). Lastly, experimental research aims at making
change in the findings. When compared with all the research designs, researcher made use of
descriptive research. This design is selected as it enables to get appropriate information for the
research. Further, it also enables to focus on developing questionnaire and for making proper
analysis of the facts that are gathered by the researcher.
3.4 Research Approach
It is considered to be one of the most effective technique. In this context, it helps the
researcher to focus on conducting the research general to specific or specific to general. These
are of two types which are inductive and deductive ( Clarke and Fujimura, 2014). Inductive
theories are related with making analysis for with respect to different type of theories that are
related to the research. In other words, it enables to conduct the research from general to specific.
The researcher aims at understanding the general terms that are included in research, then
specific terms is been considered. This is helpful to develop in depth understanding of the
research. Deductive approach plays vital role in focusing on the existing theories that are
developed by other researchers related to the topic. In other words, investigator has aimed at
focusing specifically on the topic and then it gets into general topic. When compared with both
these approachers, researcher made use of deductive approach (Gale, Heath and Redwood,
2013). It enabled to focus on existing theories related to the topic. In other words, investigator
aims at covering the topic from general aspect to specific towards the topic.
3.5 Research Strategy
For each of the research to be conducted, it requires to have appropriate strategy so that
the aim and objectives that are being set can be achieved. These are two different type of
strategies which are qualitative and quantitative strategies (Wildemuth, 2016 ). In this context,
quantitative strategy aim at focusing over making analysis and evaluation with the help of
different mathematical and statistical tool. On the other hand, qualitative strategies aims at
different type of theories that are related to the research objectives. In addition to this, there are
different models which will help to enhance in-depth understanding. Among these strategies,
investigator made use of qualitative strategy as it focus on the theoretical information with the
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help of which the rate of understanding for the current research can be raised. Further, for each
of the research objectives that are being set consist of different type of areas in which there are
other researches that are already being conducted ( Karlsson, 2016). With this respect, there are
many theories or models that are made and it enables to conduct the research in effective
manner.
3.6 Data collection method
It is a type of process that enables to gather information for the research. In order to
complete the research in effective manner, it is important to make proper information collected
or gather so that the rate of understanding for the topic can be raised ( VanPatten and Williams,
2014). Information can be collected with the help of two different type of techniques which are
primary and secondary. Primary information can be determined to the data that is not being
gathered by any other researcher. With this respect, these make use of different sources for
collection of information, these include: observation, interview and questionnaire. On the other
hand, secondary data are those which are already being collected by some other person. In this
context, it includes sources like books, journals, articles, online websites, etc. Among these two
researcher has made use of both these techniques. More specifically, primary information is
gathered with the help of questionnaire and secondary data is collected through articles, journals,
books, etc. (Skinner, Hester and Malos, 2013). Both these techniques are highly beneficial and
support investigator to come up with appropriate data with the help of which the current research
can be conducted in effective manner.
3.7 Sampling
To conduct research in effective manner, it is not possible to have a large population that
enable to provide relevant information. In large population, it becomes difficult to make analysis
of the data (Mackert, Champlin and Damásio, 2014 ). Further, it is important for the researcher to
select specific population is able to deliver appropriate information so that researcher comes up
with proper outcome. There are two different type of method that can be used by the researcher.
These are probability and non-probability sampling method. In this context, investigator has
made use of random sampling method. This is a type of method in which from large population
researcher randomly select few from the large population. The type of information that is
provided by them is be effective enough to come up with an appropriate outcome. As per the
current research, the investigation has selected 50 Entrepreneurs of Trinidad and Tobago. The
14

questionnaire is developed in which questions related to the objectives are included and this is
helpful to know the perception of respondents related to the research topic ( Lather and St.
Pierre, 2013). This sample size is selected by making use of random sampling method, this
enables to eliminate biasness and objectives of the research is achieved.
3.8 Data analysis
When different sources are considered that is primary and secondary information, then it
requires the investigator to make proper analysis of the collected data. This is done in order to
make sure that viewers are able to understand the information and to come up with appropriate
outcome (Munn, Porritt and Pearson, 2014 ). In order to make proper analysis of the data, there
are different type of tools and techniques that can be used. The research has made use of
qualitative strategy and so the collected information is analysed with the help of thematics. This
is a type of tool that is helpful to present the gathered information in form of tables, charts, etc.
Further, there are different questions that are asked by the researcher by entrepreneurs and for
each of the questions thematics will enable to prefer the data effectively and efficiently (Mansell,
2015). In addition to this, thematics also includes graphical presentation which help to present
the result effectively. Different people have diverse set of perception and with the help of
thematics, it is favourable enough to know it and to make it present in appropriate manner.
3.9 Ethical consideration
This can be determined by the effective approach that enables the researcher to know
what is right and wrong. Investigator needs to consider ethics and he/she should made sure that
there is no unethical practices followed (Mansell, 2015 ). Ethical consideration should be
considered while collecting primary and secondary information. With this respect, all the
personal information of the respondents should be secure in gathering primary data. Only the
authorised person should be allowed to access that information. There are conditions in which
secondary information can be accessed when there is proper account made by the researcher. All
the respondents should be provided with proper information related to the main reason for which
questionnaire is being filled by them. Further, all the reference that has to be used should be cited
properly. Moreover, the information that is already being gathered by some other person should
not be used as it is given but it can be used as a reference (Wiek and Lang, 2016 ). This is a type
of ethical consideration in which, if it is not followed , then it increases the risk of plagiarism.
15

3.10 Research limitations
In order to conduct the research, there are different type of limitations that are faced by
researchers. Due to this, it minimises the rate of scope and has negative impact on the result
scope. With this respect, below given are the limitations faced by investigator in the present
dissertation:
Selection of data collection techniques: This is a type of limitation in which researcher
face issues in order to select the most appropriate research methodology (Riedl, Davis and
Hevner, 2014 ). There are different type of method through which data can be collected but when
wrong selection is made, then it becomes a type of limitation.
Forming aim and objectives: To conduct a research in an effective manner, it requires
one to develop research aim and objective. These enable to develop path on which research can
be completed. When it is not properly framed, then it becomes difficult for the research to come
up with and appropriate outcome.
Time limitation: There are the different type of activities that are being developed and
each of them needs to be completed on speculated time or else over all time period that is
determined will get delayed (Choy, 2014). With this respect, all the activities need to be
completed on time so that the project aim and objectives can be achieved.
Study in other areas: There are different areas in which similar research can be
conducted. Different people have the diverse set of perception and they are able to provide other
areas in which consideration can be made.
Slow responses: In each of the researches, there is sample size that is determined and
when thee are not be considered, then it has the negative impact. Further, there are limitations
faced by the investigator when the response is not received on time (Bauman, 2013 ). For
example, when 100 questionnaires are being sent, then there are cases that only 80 may come
back.
16

CHAPTER 4 : DATA ANALYSIS
4.1 Introduction
This is the important chapter that makes proper analysis of the data with the help of different
sources. There are many different types of questions that are included in the questionnaire and
these are helpful enough to make sure that appropriate outcome can be derived. A per the present
research there are about 50 entrepreneurs who are taken into consideration. The research will to
know the preference of the respondents selected as per the current research. More specifically,
there are the different type of issues that are being faced by entrepreneurs due to which the rate
of performance get negatively affected and they are not able to achieve their desired goals and
objectives. With this respect, all the questions that are being asked by respondents will be
presented in form of pie charts, graphs, etc.
4.2 Discussion
Theme 1: Starting once own business is beneficial
Response Frequency Percentage
Yes 27 36
No 14 28
Not sure 9 16
17

Description : As per the analysis made, it is identified that there are about 27 of the
individuals who think that starting up once own business is highly beneficial. Further, there are
14 of the entrepreneurs who do not consider to starting the business to be effective. In addition to
this, there are about 9 of the respondents who are not sure for the same. In this context, the
findings suggest that majority of individuals are in favour to start up their own business and it is
highly beneficial. The ultimate aim of any business is to gain maximum profit. This is only
possible when one starts up their business as per the preference of people. When working as an
employee in other firms, it can not be considered to be effective as the income is fixed and the
rate of profit that is earned by the firm is not received by workers.
Theme 2: The main benefits that one gets through starting their own business
Response Frequency Percentage
Independence 18 36
Money 13 26
Power 8 16
Respect 11 22
Description : When one starts a business, there are the different type of issues that are
being faced. When performing any type of role there is certain set of the negative and positive
18

impact that the business has. With this respect, from the findings. It is identified that
independence is one of the main benefits that individuals get. Working within an organisation as
an employee , there are the different set of ideas that one has within their mind but they are not
able to present it due to lack of independence. As per the findings, it is identified that the rate of
independence selected by the entrepreneurs are high and that is about 18 of the respondents.
Further, there are about 13 of the workers who think that they are able to earn money when they
start their own business. Moreover, there are 8 of the respondents who feel that the main benefit
is with respect to power. In addition to this , respect is the benefit that entrepreneurs get through
starting up their own business.
Theme 3: The main skill required for entrepreneurship
Response Frequency Percentage
Managerial skills 14 28
Leadership 21 42
Problem solving 4 8
Decision making 11 22
Description : In accordance with the analysis made, it is identified that there are the
different type of skills that are required in order to start up a business. With this respect, it is
important that all these skilled are possessed by entrepreneurs so that all the business operations
19

can be performed in an effective manner. There are 14 of the respondents who think that it is
essential to have managerial skills. Further, there are 21 of the entrepreneurs who think
leadership to be the most important skills that an entrepreneur should possess. From the over all
finding, leadership is the main skill that enables to boost up the performance and work base
development. When there is a business developed, then it provides employment opportunity and
it is the responsibility of entrepreneurs to make them understand about the goals and objectives
of the business.
Theme 4: Women are not capable of starting up their own business when compared with
men
Response Frequency Percentage
Yes 13 26
No 28 56
Not sure 9 18
Description : There is certain set of perception that being developed by people in which
women are not considered to be capable enough to support the business. However, as per the
findings, made by 50 of the entrepreneurs, it is identified that there are about 13 of the
20

individuals who think that women are not capable. Further, there are 28 of the respondents that
who consider women to be capable and skilled to start up a new business . One other hand there
are 9 of the entrepreneurs who are not sure for the same. From the overall findings, it can be
determined that women can be considered to be capable in order to start up a new business.
Theme 5: Men and women are differentiated
Response Frequency Percentage
Yes 29 58
No 13 26
Not sure 8 16
Description: As per the findings , it is identified that women and men are differentiated.
It shows that the business gets negatively affected when the contribution made by them is not
favourable enough. More specifically, it can be stated that there are 29 of the individuals who
think that women and men are differentiated. On the other hand, there are 13 of the individuals
who think that both men and women are not being differentiated. In addition to this, 8 of the
respondents are not sure for the same. From this, it can be stated that the rate of support that is
provided to women is low . This can be considered to be the reasons due to which does not get
the chance to show their idea of to make it present to other with the help of starting up a new
21

business. It is important that proper preference to be given as per the type of idea that is being
developed.
Theme 6: The main reasons for women getting differentiated
Response Frequency Percentage
Traditional beliefs 23 26
Treated to be less skilled than men 17 34
Low managerial skills 10 20
Description: There are the different type of differentiations that are faced by women at
Trinidad and Tobago. As per the perception that is developed by people, women are meant to
look after their families and men is responsible for earning money for the family. With this
respect, women earning is not considered to be favourable. As per the analysis made it is
identified that there are 23 of the entrepreneurs who believe that women face issues due to
traditional beliefs. Further, there are 17 of the individuals who think that women are treated to be
skilled when compared with men. There is certain set of skilled that is required by individuals
who are willing to start up their own business . With this respect , women do not possess these
skills. In addition to this, there are 10 of the respondents who think that the rate of managerial
skills is low among women.
22

Theme 7: The difficulty faced by women in entrepreneurship
Response Frequency Percentage
Support from family or friends 11 22
No financial support 24 48
Developing network 15 30
Description: As per the findings, it is identified that there are the different set of
problems that are faced by individuals in order to start a business. With this respect, one of the
main issue face by women entrepreneurs are low support from friends and family. Further, it
includes lack of financial support and it is highly important to operate business functions.
Moreover, it includes issues with respect to developing the network. In accordance with the
analysis made, it is identified that entrepreneurs think that main issue faced is with respect to
finance. There are many firms that provide financial support but they also do not provide women
with finance as the rate of risk is high with them. More specifically, there are 15 of the
respondents who think that developing the network is one of the main issues. Further , there are
24 of the entrepreneurs who think that main issue is related to lack of financial support.
Theme 8: Finance to start up your business
Response Frequency Percentage
23

Personal saving 26 52
Friends or families 17 34
Banks 7 14
Description: From the questionnaire that was filled by 50 of the respondents it was found
that different set of strategies are being implemented by individuals through which they get to
start up their own business. As per the findings, it is identified that 7 of them took help from
banks in order to get proper support for starting up the business. Further, there are 17 of the
respondents who were supported by their friends and families. In addition to this, there are 26 of
them who made use of their personal savings in order to establish the business. From this, it can
be stated that people at Trinidad and Tobago make use of personal saving with the help of which
they get to start up their own business.
Theme 9: Agree that entrepreneurship enables to raise the employment rate
Response Frequency Percentage
Strongly agree 9 18
Agree 18 36
24

Neutral 8 16
Disagree 10 20
Strongly disagree 5 10
Description: Around the world , one of the main issues faced by countries is with respect
to unemployment. Due to this type of issue, it becomes difficult for the country to grow. As per
the findings, it can be stated that 9 of the entrepreneurs strongly agree that with the help of
entrepreneurship employment is raised. Further, there are 18 of them who agree to it. On the
other hand, there are about 5 of the individuals who strongly disagree. Further, there are 8 of the
respondents who are neutral to it. From the overall findings, it can be stated that majority of
respondents think that rate of employment gets raised when there is the increase in
entrepreneurship .
Theme 10: Women are able to achieve their desired goals and objectives as entrepreneurs
Response Frequency Percentage
Yes 18 36
No 15 30
Not sure 17 34
25

Description: When a woman tent to start their business, then they have to make proper
analysis through which the rate of performance can be raised. The desired goals and objectives
are achieved when they are able to come with the idea in an effective manner. More specifically,
the respondents think that that majority of the women are able to achieve their desired goals and
objective. This shows that they have managed their plan in an effective manner. This enables to
boost up the performance and tent to make achieve their goals and objectives. Further, there are
15 of the respondents who think that women are not able to achieve their goals and objectives.
Theme 11: Risk taking is one of the skills that an entrepreneur should possess
Response Frequency Percentage
Strongly agree 14 28
Agree 17 34
Neutral 7 14
Disagree 9 18
Strongly disagree 3 6
26

Description: There are the different type of business functions that have to be planned
due to which the rate of risk can be reduced. Further, there are 14 of the respondents who
strongly agree that it is important to take the risk and this can be determined to be the effective
skill that an entrepreneur should have. Further, there are 7 of the respondents who are neutral for
the same. On the other hand, there are 3 of the entrepreneurs who strongly disagree. In addition
to this, there are 9 of the respondents who disagree with it. From the over analysis made it can be
stated that risk taken is important in order to start up a new business and to be an entrepreneur.
Theme 12: Main element that contributes to encouraging entrepreneurship
Response Frequency Percentage
Identifying opportunity 19 38
Risk taking 14 28
Education 12 24
Confidence 5 10
27

Description: Different people have the diverse set of perception and preferences. It is
important to make sure that to be an entrepreneur one needs to identify the main cause through
which business can be developed. As per the findings , it can be stated that there are 5 of the
respondents who think that one needs to be confidence towards the idea or plan that they have
developed. Further, there are 12 of the entrepreneurs who think that one needs to have the proper
education so that they will be able to come up with the appropriate business plan. Moreover,
there are 14 of them who think risk taking is important to start a business. In addition to this,
there are 19 of the respondents, according to them one should be able to identify opportunity so
that they can develop strong customers base.
Theme 13: Social media is helpful enough for business growth
Response Frequency Percentage
Yes 28 56
No 14 28
Not sure 8 16
28

Description: In accordance with the findings, it can be stated that there are the different
type of marketing tools that can be used with the help of which the rate of performance can be
raised. It is important to make sure that as an entrepreneur one make use of these sources so that
more and more people get to know about it. More specifically, there are 8 of the individuals who
are not sure whether social media is helpful for business growth. Further, there are 14 of the
respondents who think that it is not beneficial for the business . However, a majority of
entrepreneurs think that with the help of social media, people are able to raise the rate of
development in the business.
Theme 14: Entrepreneurship is effective enough to raise GDP rate of Trinidad and Tobago
Response Frequency Percentage
Yes 27 54
No 18 36
Not sure 5 10
29

Description: As per the above, findings, it can be stated that the rate of growth is raised
with the help of entrepreneurship. There are many conditions in which business enables to raise
the GDP growth. From the findings, it can be stated that the rate of growth is high and
entrepreneurship contributes positively. More specifically, there are about 18 of the respondents
who do not think that entrepreneurship is helpful enough to raise the business and in increasing
GDP rate. On the other hand, there are 27 of them, according to them, entrepreneurship
contributes effectively to the growth of GDP rate.
30

CHAPTER 5 : CONCLUSION AND RECOMMENDATION
5.1 Conclusion
In accordance with the research conducted, it can be concluded that the rate of women
entrepreneurship is raising as in this changing world, people focus on earning money. The
ultimate aim of any business is to gain maximum profit. This is only possible when customers
are satisfied and they are being delivered by the products and services as per their preferences .
There are the different type of issues that are faced by people and as an entrepreneur, it is
essential to make proper analysis so that they get to identity business opportunities with the help
of which business can be developed.
Business is developed when there is proper support form family or friends. There are conditions
in which the idea that is developed may not be suitable enough for others when it is conveyed. In
such condition, it is important to make sure that proper analysis and research is made so that
other develop trust for the business that they are willing to develop. As per the findings, it is
identified that the rate of support that women entrepreneurs get from friends and family is low.
There is traditional perception that is developed by people in which women's are expected to stay
at homes and look after their family.
Another set of issue that is faced by women entrepreneurs is related to financial support. The
rate of trust that people who can provide financial support are low . This is because, people do
not have the confidence that they will get back the amount. With this respect, it becomes difficult
for most of the women entrepreneurs to start up their business. They may be having effective
ideas but they fail to put them into action. In such condition, one of the effective source selected
by them is personal saving that is made by them. The negative effort on this is that they have to
wait for a long time in order to get appropriate financial support with the help of which business
can be started.
Further, there are the different type of techniques, methods or approaches that are being used
and these are helpful to make sure that the research can be presented in effective manner. With
this respect, the investigator made use of primary and secondary information. In this context, the
questionnaire was developed and that was made fill by entrepreneurs. This was effective enough
to know the perception of people. On the other hand, secondary information was collected with
the help of books, journals, articles, online website, etc. Both primary and secondary information
helped in coming up with appropriate outcome for the research.
31

Further, data analysis was made for all the questions that were asked form entrepreneurs. From
the analysis, it is identified that the rate of business at Trinidad and Tobago is raising. Further,
people have developed positive perception in order to start their business as they understand the
importance of it. Moreover, the growth and develop their take place through entrepreneurship is
also high. There are the certain set of goals that are set by individuals and when there is proper
planning, then it is favourable enough to raise the performance level and in achieving their
desired objectives. Further, the rate of employment is raised when new business is developed and
the rate of GDP of the country also improves. Moreover, it is important that one take up risk so
that the business idea that is identified can be developed in an effective manner. Further, there
are the different type of skills that individuals possess. In order to be an entrepreneur, it requires
one to have leadership skills so others can be directed and guided by the business plan that is
developed. When women are encouraged to performance their roles and develop trust within the
plan that they have developed, then the rate of contribution that will be made by them will be
high. Thus, they will be able to support the country to grow in context with GDP rate and in
reducing the rate of unemployment.
5.2 Recommendation
There are the certain set of recommendations that can be followed with the help of which the
rate of gender diversity can be reduced. In this context, below given are few of them:
Awareness: As per the type of perception that is developed by individuals, it is identified
that people of Trinidad and Tobago think that women are meant to look after their family. When
people get to know the type of capabilities that women have, then it becomes favourable enough
for them to get proper support.
Developing skills: There are the certain set of skills which are required in order to start up
their own business. In this context, women should identify the set of areas in which they lack and
accordingly steps should be taken so that they will be able to develop them. Further, it is also
important to conduct market research so that the areas in which opportunities prevail can be
identified. This way the appropriate plan can be developed that will enable to develop a new
business.
Developing networking initiatives: This can be determined to be a type of issue that faced
by women entrepreneurs. In this context, they are not able to develop a strong network through
which they will be able to make their distribution. In addition to this, women are not able to get a
32

proper support of finance that is required in order to develop business. With this respect, women
should focus raising their personal savings. It will take time but the losses that will be incurred
by them will not have the negative impact and when the plan will get effective, then they will
earn huge profit.
Better support for women: In order to raise entrepreneurship women should be provided
with better opportunities in which they are able to get proper financial support. In this context,
when the tax rates will be reduced, then they will be able to boost themselves to take up the risk
and to start their own business.
By following these recommendations, it will be effective enough to raise women
entrepreneurship and this will also contribute effectively to the development of the living
standards.
33

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and library science. ABC-CLIO.
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QUESTIONNAIRE
(For Entrepreneurs)
Demographic characteristics
Name:
Age:
Gender:
1. Do you think that starting once own business is beneficial?
Yes □
No □
Not sure □
2. What are the main benefits that one gets through starting their own business?
Independence □
Money □
Power □
Respect □
3. What are the main skill required for entrepreneurship?
Managerial skills □
Leadership □
Problem solving □
Decision making □
4. Do you think that women are not capable of starting up their own business when compared
with men?
Yes □
No □
Not sure □
5. Do you think that men and women are differentiated?
Yes □
No □
Not sure □
6. What are the main reasons for women getting differentiated?
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Traditional practices □
Treated to be less skilled than men □
Low managerial skills □
7. What is the difficulty faced by women in entrepreneurship?
Support from family or friends □
No financial support □
Developing network □
8. How you got finance to start up your business?
Personal saving □
Friends or families □
Banks □
9. Do you agree that entrepreneurship enables to raise the employment rate?
Strongly agree □
Agree □
Neutral □
Disagree □
Strongly disagree □
10. Do you think women are able to achieve their desired goals and objectives as entrepreneurs?
Yes □
No □
Not sure □
11. Do you agree that risk taking is one of the skills that an entrepreneur should possess?
Strongly agree □
Agree □
Neutral □
Disagree □
Strongly disagree □
12. What is the main element that contributes to encourage entrepreneurship?
Identifying opportunity □
Risk taking □
Education □
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Confidence □
13. Do you think that social media is helpful enough for business growth?
Yes □
No □
Not sure □
14. Is entrepreneurship effective enough to raise GDP rate of Trinidad and Tobago ?
Yes □
No □
Not sure □
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