The importance of small businesses in contributing to growth in many national economies is widely reported. Although there is some recognition that much of this growth is attributable to the escalation in the number of female-owned enterprises, female business ownership remains markedly under-represented in many world economies. Moreover, this disparity appears more prominent when considering developed and developing country contexts. Curiously, to date, there is a paucity of research explaining the likely reasons underlying these apparent differences. This remains a significant gap in the literature. To remedy this apparent gap in the literature, this research will explore the factors influencing small business ownership and performance in a developing country in the Asia-Pacific region (i.e. Fiji) and subsequently compare these results with data collected in a developed country in the same region (i.e. Australia). A specific objective of this research is to investigate prominent motivational incentives influencing female entrepreneurship (in general) and small business ownership (specifically) within both Australia and Fiji. Exploratory interviews with a sample of forty female entrepreneurs in regional and urban localities within Australia and Fiji were conducted. Furthermore, equal numbers of participants involved within micro (less than five employees), small (six to ten employees) and mediumsized enterprises (eleven to thirty employees) were recruited for this research. A conceptual model and series of nine propositions (with associated sub-propositions) explaining female small business ownership is presented. Results suggest that female entrepreneurship in developed and developing economies is influenced by personal characteristics of female entrepreneurs (i.e. age, education, prior work experience), balancing work and family demands, personal motivations (push or pull), entrepreneurial orientation and external influences (financial accessibility, social networks and technological influences).