Beyond Financial Inclusion: What Drives Financial Health for Women Entrepreneurs?
May 22, 2025 /3BL/ - Women entrepreneurs in emerging markets face considerable barriers that hinder their long-term success. While difficulties accessing small business credit and training are frequently cited challenges by small business owners, CARE's latest Strive Women report —based on the experiences of nearly 2,500 businesswomen in Pakistan, Peru, and Vietnam—highlights that access to finance during a crisis, digital tools, and support networks are equally crucial factors for woman entrepreneurs' business growth. The report uncovers how business outcomes for women are deeply tied to four interconnected factors: financial resilience, business management and growth, confidence and control, and quality of life.
Strive Women, a four-year program led by CARE and supported by the Mastercard Center for Inclusive Growth, is aimed at strengthening the financial health of women-led small businesses. Women entrepreneurs are vital to economic growth, yet systemic barriers continue to undermine their overall financial health. To better capture the realities that drive or hinder their success, Strive Women has developed a comprehensive Financial Health Framework—grounded in research and designed to reflect the full scope of women business owner's lived experiences.
Using this Framework to inform the research, the analysis reveals key insights: women often rely on personal savings to manage business shocks, limiting the potential for long-term business growth and stability. While 96% feel confident in growing their businesses, their progress is often held back by limited access to finance, digital tools, and strong support networks. The research also highlights the complex role of household dynamics—where spousal support can ease stress and boost resilience, even as caregiving demands continue to restrict the time and energy available for business growth.
'Even as a businesswoman, I come home to cooking, cleaning, and caregiving—there's no pause,' says Rosario Del Pozo, a Peruvian entrepreneur. 'For many women I work with, especially those without education or support at home, it's even harder. The biggest barrier we face isn't ambition—it's the huge number of responsibilities.'
Key findings
These findings uncover reality: women entrepreneurs want to grow their businesses-- but they need systems that work with their realities, not against them.
'This research highlights how financial health is about much more than income or confidence—it's about navigating complex systems, balancing roles, and accessing the right mix of resources,' said Rathi Mani-Kandt, Director of Women's Entrepreneurship at CARE. 'When we listen to women and design systems that match their realities, we don't just improve business outcomes—we build more resilient economies.'
'These insights reinforce that unlocking women's economic potential requires programs and systems to see and support the whole person,' said Payal Dalal, executive vice president for global programs at the Mastercard Center for Inclusive Growth. 'Through Strive Women, we are investing in the tools, networks, and insights that can drive lasting impact for women entrepreneurs around the world.'
What needs to change?
The Strive Women research findings call for bold, practical, women-centered interventions. To ensure women entrepreneurs can thrive, CARE is calling for:
Looking ahead
As Strive Women programming continues, further research will explore how tailored financial and business support can build long-term resilience, how digital tools support business growth, and how strong networks—both personal and professional—can enhance women's financial health and overall well-being.
Notes to editors:
Link to Strive Women Baseline Report
Link to Baseline Learning Summary
Press contact: [email protected]
About CARE: Founded in 1945 with the creation of the CARE Package®, CARE is a leading humanitarian organization fighting global poverty. CARE places special focus on working alongside women and girls. Equipped with the proper resources women and girls have the power to lift whole families and entire communities out of poverty. In 2023, CARE worked in 109 countries, reaching 167 million people through more than 1,600 projects. To learn more, visit www.care.org.
About the Mastercard Center for Inclusive Growth: The Mastercard Center for Inclusive Growth advances equitable and sustainable economic growth and financial inclusion around the world. The Center leverages the company's core assets and competencies, including data insights, expertise, and technology, while administering the philanthropic Mastercard Impact Fund, to produce independent research, scale global programs, and empower a community of thinkers, leaders, and doers on the front lines of inclusive growth. For more information and to receive its latest insights, follow the Center on LinkedIn, Instagram and subscribe to its newsletter.
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