43% of women say gender affects access to finance: How we can close the gap

This International Women’s Day, it’s time to shine a light on an issue that affects Australian business growth: women are stepping up as founders and innovators, yet accessing finance remains a challenge for many. 

Nearly half of female business owners (43%) report that their gender has negatively impacted their ability to access finance, highlighting that ambition isn’t the issue — the system is.

We wanted to understand why, so we surveyed Australian business owners about confidence and the barriers that shape their borrowing decisions.

Confidence isn’t the whole story

A common narrative suggests women borrow less because they lack confidence or are more cautious with debt. Our survey shows a more nuanced picture. 

59% of female respondents say they feel confident accessing finance, almost on par with men (61%), showing that ambition and self-belief aren’t the barriers. Plus, 78% of women and 80% of men are comfortable taking on debt to grow their business.

But that’s only part of the story. Almost half of women (47%) believe their gender affects their confidence when it comes to borrowing. That's nearly four times the rate of men (13%).

Beyond perception, many women hold back because they lack clear information. In fact, 59% say they steer clear of finance applications simply because they’re unsure about their eligibility or the approval process. So there’s a knowledge gap contributing to the imbalance.

Overall, the numbers tell a clear story: women are ready to scale, but a clunky system and confusing processes are holding them back.

Where the friction appears

Women business owners face invisible hurdles every day, from unclear criteria to 'gatekeeper' mentalities.The process of securing finance can involve unclear approval criteria, inconsistent communication, or extra steps that feel unnecessary. 

Even when owners are prepared, these subtle frictions can affect how they approach borrowing, or whether they apply at all.

Some women describe feeling like they have to justify themselves more than their male counterparts or that the process is less about enabling opportunity and more about seeking permission. 

Others report communication that feels dismissive, which can make an already stressful process feel even more daunting.

Despite these obstacles, women are actively seeking finance: they were more likely than men to have applied in the past three years, and 73% say they would apply in the next 12 months if needed — almost identical to men at 72%.

What women business owners want

The solutions are clear when you listen to women in business:

• Simpler, transparent applications: Processes that reduce ambiguity and unnecessary complexity.
• Better expert support: Guidance from advisors who understand their businesses and communicate clearly.
• More flexible loan options: Products designed to suit the diversity of business models and growth trajectories.

Importantly, women want to feel respected throughout the process. The human element — empathy, communication, and consistency — holds just as much weight as the numbers on a balance sheet.

Why this matters

Closing the gender gap in lending isn't just about fairness, it’s smart economics.

Women-led businesses are key players in driving innovation. But when barriers prevent them from accessing finance, potential growth is delayed and opportunities for the wider economy are missed.

Understanding how women experience the finance system is the first step in unlocking this potential. Clearer, fairer processes help women step into borrowing with confidence. And when they do, the benefits ripple throughout the entire business ecosystem.

Read the full report here.