This research explores the intersectional challenges affecting women micro-, small- and medium-sized entrepreneurs (MSMEs) in their access to financial products and services, and subsequent investment from financial institutions (FIs). Building on the previous studies of the challenges of women entrepreneurs (WEs) in accessing finance and gender lens investing landscape in Cambodia, this research further discusses intersectional approaches in examining the barriers to financial service by understanding the lived experiences of women MSMEs founders who come from different backgrounds. Using a Feminist Action Research methodology with 6 women entrepreneurs (1 woman with disability) as the lead data collectors, the study was conducted with 95 women MSMEs (2 LGBTQIA+, 10 women with disabilities) and 3 key informants in Phnom Penh and Battambang, between urban and rural demographics.

The study showed that diverse experiences and backgrounds of WEs – including age, ability status, religion, family composition, and sexual orientation – affect their access to financial services and expansion of their business activities. Emphasising the lived experiences of women entrepreneurs, a power dynamics analysis was conducted using the ‘Gender at Work’ tool to provide recommendations that would enable the products and services offered FIs to be designed in a way that enables diverse WEs to formalise, scale, and create impact, which also makes them more attractive as pipeline companies to investors. As the focus of this study was predominantly on the perceptions of WEs, it is recommended that studying FIs is a priority for future research to explore their initiatives and any gender-inclusive frameworks that address the intersectional experiences of WEs.