BREAKING BARRIERS OR BUILDING BRIDGES? A SYSTEMATIC REVIEW OF WOMEN ENTREPRENEURSHIP IN SMES WITHIN EMERGING ECONOMIES
Main Article Content
Abstract
Women entrepreneurs in small and medium-sized enterprises (SMEs) in emerging economies play a critical role in employment generation, community development, and inclusive growth. However, their entrepreneurial journeys are shaped by structural finance gaps, gendered cultural norms, and institutional constraints that limit opportunities for enterprise development. This study examines the dual reality of "barriers" and "bridges" influencing women-led SMEs in emerging economies. The purpose of this research is to synthesise existing empirical evidence to understand how women both encounter and respond to these constraints. The study employs a systematic review of 17 peer-reviewed journal articles published between 2000 and 2024. Articles were identified through searches conducted in Scopus, Web of Science, and ResearchRabbit, following PRISMA 2020 screening and eligibility procedures that reduced an initial dataset of 154 records to 17 that met inclusion criteria. The results show that barriers cluster around four dominant themes: restricted access to finance, gender norms shaping entrepreneurial identity and choices, institutional voids in regulatory and market systems, and exclusion from formal entrepreneurial networks. Conversely, enablers or "bridges" include microfinance and informal credit channels, digital platforms supporting market access, women-led cooperatives and associations, and psychological resilience and agency among women entrepreneurs. The major findings of the review indicate that women entrepreneurs are not only constrained by structural factors but also act as institutional actors, developing adaptive strategies that reshape entrepreneurial ecosystems in their contexts.
JEL Classification Codes: L26, M13, O14, O17, J16.
Downloads
Article Details
Section

This work is licensed under a Creative Commons Attribution 4.0 International License.
How to Cite
References
Abebe, A., & Kegne, M. (2023). The role of microfinance on women’s entrepreneurship development in Western Ethiopia evidence from a structural equation modeling: Non-financial service is the way forward. Cogent Business & Management, 10(3), 2256079. https://doi.org/10.1080/23311975.2023.2256079
Abrar ul Haq, M., Victor, S., & Akram, F. (2020). Exploring the motives and success factors behind female entrepreneurs in India. Quality & Quantity, 55, 1105–1132. https://doi.org/10.1007/s11135-020-01046-x
Ahl, H. (2006). Why Research on Women Entrepreneurs Needs New Directions. Entrepreneurship Theory and Practice, 30(5), 595–621. https://doi.org/10.1111/j.1540-6520.2006.00138.x
Ahl, H., & Nelson, T. (2015). How policy positions women entrepreneurs: A comparative analysis of state discourse in Sweden and the United States. Journal of Business Venturing, 30(2), 273–291. https://doi.org/10.1016/j.jbusvent.2014.08.002
Alecchi, B. A. (2020). Toward Realizing the Potential of Latin America’s Women Entrepreneurs: An Analysis of Barriers and Challenges. Latin American Research Review, 55(3), 496–514. https://doi.org/10.25222/larr.108
Ali, R. S. (2018). Feminist Theory and its Influence on Female Entrepreneur’s Growth Intentions. INTERNATIONAL JOURNAL of INNOVATION and ECONOMIC DEVELOPMENT, 4(3), 20–32. https://doi.org/10.18775/ijied.1849-7551-7020.2015.43.2003
Baker, T., & Nelson, R. E. (2005). Creating Something from Nothing: Resource Construction through Entrepreneurial Bricolage. Administrative Science Quarterly, 50(3), 329–366. https://doi.org/10.2189/asqu.2005.50.3.329
Bandem, M. (2024). Women Entrepreneurs Conducting Business in Southeast Asia Perceptions, Barriers and Policy Options.
Barney, J. (1991). Firm Resources and Sustained Competitive Advantage. Journal of Management, 17(1), 99–120. https://doi.org/10.1177/014920639101700108
Bourdieu, P. (1986). The Forms of Capital (pp. 241–258). Greenwood. Retrieved from https://home.iitk.ac.in/~amman/soc748/bourdieu_forms_of_capital.pdf
Brookings. (2025). The future of African youth and women in entrepreneurship: Leading Africa to 2030. Brookings. Retrieved from https://www.brookings.edu/articles/the-future-of-african-youth-and-women-in-entrepreneurship-leading-africa-to-2030/
Coleman, J. S. (1990). Foundations of social theory. Harvard University Press.
Das, B., & XiaoFeng, H. (2017). Financing source for women owned SMEs: An evidence from Nepal. Financing Source for Women Owned SMEs: An Evidence from Nepal. 2017 3rd International Conference on Information Management (ICIM), Chengdu, China, 2017, pp. 144–148. https://doi.org/10.1109/infoman.2017.7950364
Dorlach, T. (2022). Social Policy Responses to Covid-19 in the Global South: Evidence from 36 Countries. Social Policy and Society, 22(1), 1–12. https://doi.org/10.1017/s1474746422000264
Franzke, S., Wu, J., Froese, F. J., & Chan, Z. X. (2022). Female entrepreneurship in Asia: a critical review and future directions. Asian Business & Management, 21(3), 343–372. https://doi.org/10.1057/s41291-022-00186-2
Galan, M., & Lindner, R. (2024). Is “Greening” Hydrogen the New Oil? The Governance of Social and Political Risk in Emerging North–South Hydrogen Trade Collaborations. The Journal of Environment & Development, 34(3). https://doi.org/10.1177/10704965241305839
Global Entrepreneurship Monitor. (2023). Women Entrepreneurs in Emerging Economies: Lessons on Segmentation and Care Needs from the 2019-2021 Pandemic. GEM Global Entrepreneurship Monitor; GEM. Retrieved from https://gemconsortium.org/report/women-entrepreneurs-in-emerging-economies-lessons-on-segmentation-and-care-needs-from-the-2019-2021-pandemic
International Finance Corporation (IFC) (2020). Annual Report 2020: Transformation. IFC. Retrieved from https://www.ifc.org/en/insights-reports/2020/ifc-ar-2020-download
Kanze, D., Huang, L., Conley, M. A., & Higgins, E. T. (2018). We Ask Men to Win and Women Not to Lose: Closing the Gender Gap in Startup Funding. Academy of Management Journal, 61(2), 586–614. https://doi.org/10.5465/amj.2016.1215
Khanna, T., & Palepu, K. G. (1997, July 1). Why Focused Strategies May Be Wrong for Emerging Markets. Harvard Business Review. Retrieved from https://hbr.org/1997/07/why-focused-strategies-may-be-wrong-for-emerging-markets
Love, I., Nikolaev, B., & Dhakal, C. (2023). The wellbeing of women entrepreneurs: the role of gender inequality and gender roles. Small Business Economics, 62, 325–352. https://doi.org/10.1007/s11187-023-00769-z
Marlow, S., & McAdam, M. (2013). Gender and entrepreneurship: Advancing debate and challenging myths; exploring the mystery of the under‐performing female entrepreneur. International Journal of Entrepreneurial Behavior & Research, 19(1), 114–124. https://doi.org/10.1108/13552551311299288
McAdam, M., Crowley, C., & Harrison, R. T. (2020). Digital girl: cyberfeminism and the emancipatory potential of digital entrepreneurship in emerging economies. Small Business Economics, 55, 349–362. https://doi.org/10.1007/s11187-019-00301-2
Metu, A. G., & Nwogwugwu, U. C. C. (2022). Challenging Factors Affecting Access to Finance by Female Micro Entrepreneurs in Anambra State, Nigeria. Journal of African Business, 25(1), 1–13. https://doi.org/10.1080/15228916.2022.2064677
North, D. C. (1990). Institutions, Institutional Change and Economic Performance. Institutions, Institutional Change and Economic Performance. https://doi.org/10.1017/cbo9780511808678
Ojong, N., Simba, A., & Dana, L.-P. (2021). Female entrepreneurship in Africa: A review, trends, and future research directions. Journal of Business Research, 132, 233–248. https://doi.org/10.1016/j.jbusres.2021.04.032
Page, M. J., McKenzie, J. E., Bossuyt, P. M., Boutron, I., Hoffmann, T. C., Mulrow, C. D., Shamseer, L., Tetzlaff, J. M., Akl, E. A., Brennan, S. E., Chou, R., Glanville, J., Grimshaw, J. M., Hróbjartsson, A., Lalu, M. M., Li, T., Loder, E. W., Mayo-Wilson, E., McDonald, S., & McGuinness, L. A. (2021). The PRISMA 2020 statement: An updated guideline for reporting systematic reviews. British Medical Journal, 372, 71. https://doi.org/10.1136/bmj.n71
Piraino, P. (2021). Drivers of Mobility in the Global South. Oxford University Press EBooks, 35–53. https://doi.org/10.1093/oso/9780192896858.003.0002
Scott, W. R. (2014). Institutions and Organisations Ideas, Interests, and Identities (4th ed.). Thousand Oaks, CA: Sage Publishing. - References - Scientific Research Publishing. Retrieved from https://www.scirp.org/reference/referencespapers?referenceid=2451254
Simba, A., Ogundana, O. M., Braune, E., & Dana, L. (2023). Community financing in entrepreneurship: A focus on women entrepreneurs in the developing world. Community Financing in Entrepreneurship: A Focus on Women Entrepreneurs in the Developing World, 163, 113962–113962. https://doi.org/10.1016/j.jbusres.2023.113962
Teipen, C., & Mehl, F. (2021). Global Value Chains and Industrial Relations in the Global South: Social Upgrading Paths in Different Industries. Journal of Labour and Society, 24(1), 214–236. https://doi.org/10.1163/24714607-20212008
Thomas, J., & Harden, A. (2008). Methods for the Thematic Synthesis of Qualitative Research in Systematic Reviews. BMC Medical Research Methodology, 8(1), 1–10. Biomedcentral. https://doi.org/10.1186/1471-2288-8-45
Tondra, S. I., Bristy, J. F., Bappy, M. R. H., & Bose, T. K. (2023). Informal institutional void and female entrepreneurship in emerging economies: a comparative analysis among physical and online female entrepreneurs. International Journal of Export Marketing, 6(1), 17–46.
UN Women. (2023). UN Women Highlights 2023–2024 | UN Women – Headquarters. UN Women – Headquarters. Retrieved from https://www.unwomen.org/en/annual-report/2024
van Zeeland, I., & Pierson, J. (2024). Changing the whole game: effects of the COVID-19 pandemic’s accelerated digitalization on European bank staff’s data protection capabilities. Financial Innovation, 10, 29. https://doi.org/10.1186/s40854-023-00533-y
Wellalage, N., & Locke, S. (2017). Access to credit by SMEs in South Asia: do women entrepreneurs face discrimination. Research in International Business and Finance, 41, 336–346. https://doi.org/10.1016/j.ribaf.2017.04.053
World Bank. (2022). World Development Report 2022: FINANCE for an Equitable Recovery. World Bank. Retrieved from https://www.worldbank.org/en/publication/wdr2022