Bridging the Capability Gap among Women-Owned MSMEs: From Financial Access to Financial Resilience

Hawa Nur Sai'dah Mustaffa; Nur Farhah Mahadi

doi:10.36948/ijfmr.2026.v08i05.88307

Bridging the Capability Gap among Women-Owned MSMEs: From Financial Access to Financial Resilience

Author(s)	Ms. Hawa Nur Sai'dah Mustaffa, Dr. Nur Farhah Mahadi
Country	Malaysia
Abstract	Expanding access to formal financial services has become a central strategy for promoting entrepreneurship and reducing economic exclusion. Yet, access to financial products and services does not necessarily translate into the capacity of micro, small and medium enterprises (MSMEs) to withstand financial shocks, manage resource constraints, or recover from periods of disruption. This distinction is particularly important for women-owned MSMEs, which frequently operate within interconnected financial, informational, technological, institutional, and social constraints. This conceptual article challenges the implicit assumption that greater financial access necessarily produces stronger financial resilience. It proposes an access–capability–utilisation–resilience perspective in which financial inclusion provides access to financial resources, while enterprise capabilities determine whether those resources can be effectively mobilised and converted into resilient financial outcomes. The article identifies four interrelated capability domains, namely financial capability, informational capability, digital capability, and relational capability, as potential mechanisms connecting financial access with financial resilience. It further argues that structural and gender-related constraints may limit the conversion of financial access into meaningful enterprise outcomes among women entrepreneurs. By repositioning financial inclusion as an enabling resource rather than an end outcome, the proposed framework provides a basis for future empirical research on how women-owned MSMEs transform financial resources into capabilities for coping, adaptation, and recovery. The framework also highlights the need for entrepreneurship and financial inclusion policies to complement access-oriented interventions with capability-building mechanisms.
Keywords	financial inclusion, financial resilience, financial capability, informational capability, digital capability, relational capability
Field	Sociology > Banking / Finance
Published In	Volume 8, Issue 5, September-October 2026
Published On	2026-09-24
DOI	https://doi.org/10.36948/ijfmr.2026.v08i05.88307

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Bridging the Capability Gap among Women-Owned MSMEs: From Financial Access to Financial Resilience

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