Intangible Capital | 2026
Authors: Valencia-Arias A.; Gallegos A.; Valencia J.; Gómez-Bayona L.; Gallegos-Pacheco R.; Londoño-Celis W.
DOI: 10.3926/ic.3471
Journal: Intangible Capital
Year: 2026
Publisher: OmniaScience
Document Type: Article
Open Access: All Open Access; Gold Open Access; Green Open Access
Cited by: 0
Purpose: Access to financing is a determining factor for business creation, growth, and sustainability. In this broader context, women-led businesses often face specific and persistent financial constraints that affect their business trajectory. This study aims to systematically analyze the role of finance in the development of female entrepreneurship and to identify the main barriers, enabling factors, and research gaps reported in the literature. Methodology: A systematic literature review was conducted following the PRISMA 2020 guidelines. A total of 19 peer-reviewed articles published between 2009 and 2024 were selected from Scopus and Web of Science and analyzed using a qualitative synthesis approach. Findings: The results show that women entrepreneurs face persistent financial constraints related to limited access to credit, insufficient collateral, restricted networks, and gender-based perceptions of risk. The evidence further indicates that intangible factors-such as human capital, social capital, and institutional trust-play a central role in mediating access to finance and business sustainability. Research limitations: The review is limited to published academic literature in selected databases and may not fully capture gray literature or regional reports. Future research could incorporate longitudinal or empirical studies to deepen understanding of causal relationships and policy impacts. Practical implications: The findings support the need for tailored financial instruments, inclusive banking practices, and gender-responsive funding programs that address the specific needs of women entrepreneurs. Policymakers and financial institutions should collaborate to dismantle systemic barriers and foster an enabling environment for inclusive business growth. Originality/value: This study contributes to the journal's scope by providing an integrative synthesis of financial and intangible dimensions of female entrepreneurship and by proposing a conceptual framework that advances existing fragmented approaches. The findings offer a foundation for future empirical research and support the design of gender-responsive financial and entrepreneurial policies. © Article’s contents are provided on an Attribution-Non Commercial 4.0 Creative commons International License. Readers are allowed to copy, distribute and communicate article’s contents, provided the author’s and Intangible Capital’s names are included. It must not be used for commercial purposes. To see the complete license contents, please visit https://creativecommons.org/licenses/by-nc/4.0/.
Access to financing; Business sustainability; Female entrepreneurship; Financial barriers; Inclusive policies