This study explores the impact of contextual factors on firm survival while examining the crucial role that entrepreneurial endeavors play in promoting economic growth and development. In order to comprehend how outside factors influence entrepreneurial tactics and decision-making, it examines various theoretical frameworks, such as contingency theory and cultural theory. The empirical review covers a number of research that look at how macro environmental elements, like socioeconomic conditions, laws, and technology breakthroughs, affect women entrepreneurs and small and medium-sized businesses (SMEs). Results show that while obstacles like political unpredictability and restricted access to technology can impede growth, venture success depends on supportive social environments and efficient regulatory frameworks. The study underlines the significance of building entrepreneurial competencies and performance indicators customized to the unique demands of varied operating contexts, particularly for women entrepreneurs. All things considered, this study urges more empirical research to fill in the knowledge gaps about the factors influencing entrepreneurship in various sociocultural and economic circumstances.