FACTORS INFLUENCING ON BUSINESS SUCCESS OF HANDLOOM INDUSTRY IN MARUTHAMUNAI

Abstract

The handloom industry is one of the oldest industries in the world. From the earliest times it has been seen as a profession intertwined with human life. Man power is seen as more essential than capital to the handloom industry. As a result, the industry is gaining ground in more populous countries where man power is readily available. As far as Sri Lanka is concerned, most of the people living in rural areas are engaged in weaving here. This study investigates the influence of economic factor, technological factor and social factor on business success of handloom weavers in Maruthamunai. This study has implemented with three independent variables of economic factor, technological factor and social factor as well as dependent variable of business success. This study is a descriptive in nature, data were collected from 150 weavers in Maruthamunai under the simple random sampling using structured questionnaire. The reliability test, descriptive statistics, correlation, and regression analysis were used to analyze the data. Cronbach's Alpha was used to check the reliability of the data. The findings reveal that the economic factor, technological factor and social factor are influencing high level among the respondents and business success also high level among the respondents. Economic factors, technological factors and social factors are positively affecting on the business success.