In an era of knowledge economics, due to the adjustment of global human resource structure and the advance of female education level, the employment opportunities for women have increased dramatically while leading to innovative employment format. As a result, the personal characteristics and the necessary leadership competency of female entrepreneurs have been gradually uncovered. This study will explore the effect of female entrepreneurs' personal characteristics and leadership cOl1lpetency toward performance. We distributed 90 questionnaires, with a return of 62 questionnaires and a return rate of 68.9%.Our studies discover the following motives for female entrepreneurships: self discovery, discrimination in the business arena, sense of accomplishment, and financial reasons. Also, we found the problems for entrepreneurship include juggling between family and business, weak financial capabilities, difficulties in fund raising and lack of market understanding. Finally, we discover that there is a high level of positive correlation between female entrepreneur personal characteristics and performance, but leadership competency is only partially highly correlated with performance.