Data were sourced from Scopus, Web of Science, and Google Scholar. The search was conducted between 1 March and 30 April 2025. The exact Boolean search string was: (“women-led SME*” OR “female entrepreneur*”) AND (“socio-cultural” OR “gender norm*”) AND (“strategic determinant*” OR “enterprise performance” OR “business performance”). Studies included empirical or conceptual research explicitly linking socio cultural factors to strategic determinants and performance of women led SMEs. Key information extracted from each study included study context, theoretical framework, strategic factors, socio cultural moderators, and reported outcomes.

A three-stage screening process ensured relevance and quality. Stage one involved title and abstract screening, stage two involved full-text evaluation for alignment with research objectives, and stage three involved citation tracking. Inclusion criteria were: peer-reviewed studies published between 2015 and 2025, English-language publications, and studies addressing socio cultural moderators of strategic determinants in women led SMEs.

Studies published before 2015 were excluded to maintain currency. Articles without theoretical grounding or based solely on anecdotal evidence were omitted. Single-case studies with limited generalisability and studies not linking socio cultural factors to strategic performance were excluded.

Thematic analysis was conducted using NVivo 12. Deductive coding applied theory-driven categories based on Entrepreneurial Orientation and Gender Role Theory, including societal attitudes, family dynamics, institutional frameworks, and strategic determinants. Inductive coding identified emerging themes such as digital infrastructure, microfinance, and public-private collaborations. The analysis followed Braun and Clarke’s six-step process: familiarisation with data, generating initial codes, searching for themes, reviewing themes, defining and naming themes, and producing the final report. Frequency, contextual relevance, and evidence strength were considered in theme development.

Study quality was assessed using the Critical Appraisal Skills Programme (CASP) checklist for qualitative research and a custom checklist for mixed-methods studies, evaluating clarity of aims, appropriateness of methodology, data collection, analysis rigor, and relevance. The overall evidence base was considered moderate to high, with the majority of studies demonstrating methodological transparency and consistency. Peer debriefing and memo writing supported reflexivity, ensuring transparency and minimising bias.

To enhance reliability and transparency in thematic analysis, the study incorporated specific procedures to manage subjectivity. Coding was conducted using NVivo software, with an initial set of deductive codes derived from literature on socio-cultural factors and strategic determinants, and inductive codes emerging from the data. To improve coding reliability, peer review steps were implemented: a second researcher independently coded a random sample of 20% of the articles, and discrepancies were resolved through discussion and consensus. Reflexivity was operationalized by maintaining detailed memos and coding journals, documenting analytic decisions such as theme inclusion, interpretation of ambiguous findings, and adjustments made when new patterns emerged. For example, the decision to classify digital financial inclusion as a socio-cultural enabler was explicitly recorded, reflecting reflexive consideration of context. These measures ensured that thematic findings were transparent, consistent, and grounded in the data, reducing subjective bias and enhancing the credibility of the review.

Institutional frameworks, encompassing both formal and informal rules, critically shape the performance of women led SMEs by influencing access to finance, business networks, and infrastructure. ³⁶ Evidence from Kenya ^{37, 38} indicates that gender-based lending practices and stringent collateral requirements significantly restrict credit access, particularly in contexts where land ownership is predominantly male. While similar constraints are observed in India, ^{39, 40} domestic responsibilities further limit women’s participation in networks and training, suggesting that institutional barriers intersect with cultural expectations to compound strategic disadvantages. In Nigeria ^{41, 42} poor road infrastructure disrupts supply chains for women in agricultural enterprises, illustrating how physical infrastructure can directly affect enterprise performance. By contrast, digital financial inclusion initiatives in Bangladesh ⁴³ demonstrate that technology can mitigate these institutional constraints, enhancing access to financial services and expanding market opportunities. These findings suggest that institutional interventions are context dependent: measures effective in one sector or country may not transfer seamlessly to others, particularly technology or service-based enterprises.

Across the evidence base, patterns emerge highlighting the interplay between formal regulations, cultural norms, and strategic outcomes. For example, inclusive lending and property rights reforms consistently correlate with improved access to resources, ^{44– 46} yet the magnitude of their impact is moderated by entrenched societal norms. Contradictions are apparent when comparing contexts: in Pakistan, religious norms often restrict women’s financial participation, whereas in Indonesia, Islamic microfinance provides culturally aligned avenues for resource access, illustrating that socio cultural factors can function as both barriers and enablers depending on local interpretations of institutional rules. ^{47, 48} This comparison underscores the need for contextually tailored strategies rather than universal policy prescriptions. Overall, the evidence suggests that strengthening institutional frameworks alone is insufficient; interventions must simultaneously address cultural, gendered, and infrastructural constraints to enhance the strategic capabilities and performance of women led SMEs.

Societal attitudes and religious beliefs exert a powerful influence on the market positioning of women led SMEs, often limiting them to low growth sectors in traditionally patriarchal contexts. ^{49, 50} Evidence from Saudi Arabia ^{51, 52} demonstrates that policy reforms under Vision 2030 have begun to mitigate these barriers by actively promoting women’s participation in industries historically dominated by men, suggesting that government-led interventions can reshape entrenched norms. In contrast, in Pakistan, ⁵³ religious and cultural norms continue to restrict women’s access to financial resources, constraining both business expansion and strategic decision making. Interestingly, Indonesia ^{47, 48} illustrates how similar religious frameworks can function as enablers rather than barriers, with Islamic microfinance offering culturally aligned, interest-free loans and supportive services that empower women entrepreneurs. These contrasting outcomes underscore that socio-cultural factors interact with local institutional and financial mechanisms, making context-specific strategies essential.

Access to quality education and targeted entrepreneurial training further shapes women’s strategic capabilities. ^{54– 56} Studies indicate that educational interventions strengthen digital literacy, business acumen, and innovation capacity, which in turn enable broader participation in competitive markets. Complementary public and private sector initiatives, such as mobile banking programs in Bangladesh, ^{57– 59} have enhanced financial inclusion and improved market access, demonstrating the potential for coordinated institutional support to reinforce educational gains. While these interventions are promising, their transferability across sectors and regions remains uncertain, as contextual norms and infrastructure continue to mediate their effectiveness. Overall, the synthesis suggests that addressing societal attitudes and religious constraints in combination with educational and institutional initiatives is critical for enabling women led SMEs to expand into higher growth sectors. Targeted measures, including scholarships, tailored training programs, and culturally sensitive financial inclusion reforms, emerge as key strategies for fostering equitable market participation and sustainable enterprise performance.

Risk management is critical for the sustainability and growth of women led SMEs, with both family dynamics and institutional frameworks shaping strategic decisions. ¹⁷ Evidence from India ^{60, 61} suggests that traditional gender norms confine women to low risk sectors, limiting access to higher growth opportunities. Conversely, supportive family structures ⁶² appear to facilitate risk taking, fostering innovation and encouraging engagement in more ambitious business ventures. These findings highlight that family support functions as a contextual moderator, enhancing the effectiveness of strategic initiatives where cultural expectations may otherwise restrict women’s entrepreneurial autonomy.

Institutional deficiencies further constrain women’s capacity to manage risk effectively. Weak legal enforcement in Kenya, ^{63– 65} for instance, limits business expansion and reduces incentives for investment, whereas targeted interventions such as Rwanda’s Women’s Guarantee Fund ⁶⁶ demonstrate how tailored support can mitigate financial risks and stimulate enterprise growth. Evidence from Nigeria ^{67– 70} indicates that financial literacy and risk management training improve profitability and resilience in the agribusiness sector; however, these sector-specific successes raise questions about the transferability of such interventions to technology or service-based SMEs. Similarly, inclusive financial systems in Bangladesh ⁷¹ have enhanced access to credit and insurance, enabling women entrepreneurs to undertake strategic risks that would otherwise be constrained by both socio-cultural and institutional barriers.

The synthesis of these studies reveals a pattern: effective risk management for women led SMEs requires simultaneous attention to family support, institutional reforms, and targeted financial interventions. Advancing gender balanced legal frameworks, strengthening institutional enforcement, and integrating culturally sensitive financial tools emerge as essential strategies to promote equitable entrepreneurship, enhance strategic decision making, and support sustainable growth across diverse business contexts.

Innovation among women entrepreneurs is closely linked to access to both formal and informal education, which builds business, technical, and digital competencies. ^{72, 73} Evidence from rural Pakistan ^{74, 75} indicates that limited educational opportunities restrict innovation, compelling women to rely on outdated practices and constraining enterprise growth. In contrast, well-established educational systems in Finland ⁷⁶ enable women to adopt digital technologies and expand business operations, illustrating the critical role of systemic educational support in fostering innovative capacity. These regional contrasts highlight that education functions not only as a skill-building mechanism but also as a moderator of the relationship between strategic determinants and performance.

Cultural norms and restrictive gender expectations further shape innovation outcomes. In India, ^{77– 82} societal attitudes in the technology sector limit access to funding and deter risk taking, thereby suppressing innovative potential even when technical skills are present. By contrast, interventions in Canada and Rwanda ^{83– 85} demonstrate that targeted programs in sectors such as fintech and healthcare can successfully overcome structural and socio-cultural barriers, enabling women entrepreneurs to translate skills into innovative business practices. This suggests that the effectiveness of education and training is contingent upon complementary institutional and societal support.

Synthesising these findings reveals that enhancing innovation among women led SMEs requires a multi-layered approach. Educational interventions must be paired with strategies to transform societal attitudes and reduce gender-based constraints, while also providing sector-specific support mechanisms. Programs that integrate skills development with culturally and institutionally aligned support not only expand opportunities for women entrepreneurs but also strengthen their capacity to adopt novel practices, manage risks, and achieve sustainable enterprise growth. Overall, the evidence underscores the importance of aligning education, societal transformation, and strategic innovation initiatives to foster inclusive and high-performing women led SMEs.

The review provided a detailed critical discussion of the findings of the literature review on how social cultural barriers moderate the relationship between strategic determinants and performance of women-led SMEs in diverse cultural contexts as shown in Figure 2.

The evidence indicates that institutional barriers such as collateral requirements, gender bias in banking systems, and uneven policy enforcement ^{36, 37, 85} significantly limit access to finance for women led SMEs, constraining their strategic decision making and growth potential. These barriers are often compounded by low land ownership and insufficient regulatory support, which intersect with socio cultural expectations and inadequate infrastructure ^{38, 40, 41, 86, 87} to restrict participation in high growth industries and access to critical business networks. Microfinance and informal credit sources remain important enablers, yet their role is unevenly leveraged in shaping strategic outcomes. Initiatives such as mobile banking in Bangladesh ⁴² show potential to transform these constraints into opportunities, suggesting that socio cultural and technological interventions can shift these factors from barriers to enablers under supportive policy and infrastructural conditions.

Linking these findings to theory, the results demonstrate that Entrepreneurial Orientation’s core components—risk taking, innovation, and proactiveness ^{24, 25} —are not universally accessible; they are filtered through a gendered socio cultural lens. Women entrepreneurs’ ability to exercise these traits is constrained by institutional and cultural norms, extending Gender Role Theory ^{1, 29– 31} by showing how societal expectations and structural barriers interact to shape strategic behaviour. While EO explains strategic intent, the findings reveal that institutional and socio cultural conditions mediate the effectiveness of these strategies, providing a critical theoretical contribution by highlighting the conditional nature of strategic capabilities in restrictive contexts.

Contextualizing with existing literature, these findings align with prior reviews emphasizing the influence of institutional support and socio cultural norms on women’s entrepreneurship, but extend the discussion by integrating financial, infrastructural, and technological dimensions across multiple regions. The synthesis underscores the need for culturally responsive financial policies, targeted infrastructural improvements, and technology enabled interventions to strengthen women’s strategic capabilities and long term enterprise sustainability. This integrated perspective advances the discourse by linking institutional and socio cultural moderators directly to strategic determinants, providing actionable insights for policymakers, development agencies, and researchers seeking to enhance women led SME performance globally.

Societal attitudes shape the market positioning of women led SMEs, frequently confining them to low growth sectors due to entrenched gender norms. ^{46, 49} Reforms such as Saudi Arabia’s Vision 2030 ⁵⁰ show promise in promoting inclusivity, yet their impact varies across regions, with rural areas demonstrating slower changes in entrepreneurial participation. Religious beliefs also influence women’s mobility, asset ownership, and access to finance. ^{52, 88, 89} Evidence from Islamic microfinance ^{47, 53} illustrates that culturally aligned financial services can transform these norms into enablers, creating opportunities for women entrepreneurs in otherwise restrictive contexts. Education enhances digital and business skills, ^{48, 54} but disparities in access and variations in societal or religious interpretation continue to limit competitiveness.

The findings demonstrate that the strategic capabilities emphasized in Entrepreneurial Orientation—risk taking, innovation, and proactiveness ^{24, 25} —are constrained by socio cultural and educational factors. While women may possess entrepreneurial intent, societal expectations and institutional barriers reduce the effectiveness of these strategies. Gender Role Theory ^{1, 29– 31} helps explain how cultural and religious norms shape permissible business behaviours, revealing that strategy and performance cannot be fully understood without considering these socio cultural moderators.

Overall, the evidence indicates that successful market positioning for women led SMEs requires interventions that combine education, culturally sensitive financial instruments, and supportive policies. The interaction between societal attitudes, religious norms, and educational access highlights both obstacles and opportunities for strategic development, emphasizing the need for integrated approaches to foster sustainable growth and competitiveness in diverse contexts.

Family dynamics and institutional frameworks strongly influence how women manage entrepreneurial risk. Cultural gender norms frequently channel women towards low risk ventures, restricting participation in high growth sectors such as technology and finance. ^{17, 59, 60, 90} Supportive family environments can enhance confidence and willingness to take calculated risks, ⁶¹ yet variations in generational roles suggest that family influence on decision making is context dependent and requires further investigation. Institutional factors, including legal protections and access to finance, further shape risk taking. In Kenya, ^{63, 64} weak enforcement mechanisms reduce investment incentives and constrain business expansion, whereas Rwanda’s Women Guarantee Fund ⁶⁵ mitigates financial risk and promotes growth. Financial literacy initiatives in Nigeria ^{66, 67} have improved profitability and operational decision making, though exposure to market and operational risks continues to limit enterprise resilience.

These findings indicate that the strategic components of Entrepreneurial Orientation ^{24, 25} —risk taking, innovation, and proactiveness—are filtered through both family and institutional contexts. While women may demonstrate strategic intent, cultural and structural factors determine whether these strategies can be effectively executed. Gender Role Theory ^{1, 29– 31} further explains how societal expectations shape permissible risk behaviours, highlighting that risk management is not only a strategic choice but also a function of socio cultural and institutional constraints. Effective interventions must therefore integrate family support mechanisms, legal reforms, and financial empowerment programs to enhance resilience and enable sustained growth in women led enterprises.

Education is a key driver of innovation among women entrepreneurs, providing essential technical, managerial, and strategic skills. ⁷² Restricted access to education in regions such as rural Pakistan ^{73, 74} limits women’s capacity for innovation and reduces their competitiveness in emerging markets. In contrast, countries with well developed educational systems, such as Finland, ⁷⁵ support digital adoption and enhance entrepreneurial outcomes for women. Societal attitudes toward leadership and risk taking further shape innovation potential. In India, ^{77– 79} cultural restrictions and limited access to funding continue to inhibit women’s advancement in male dominated sectors such as technology and engineering.

Evidence from Canada and Rwanda ^{82– 84} demonstrates that inclusive environments, supported by incubators, mentorship programs, and policy backed funding, can foster innovation and empower women entrepreneurs. These findings indicate that the strategic traits of Entrepreneurial Orientation ^{24, 25} —innovation, risk taking, and proactiveness—are strongly mediated by education and societal context. While women may possess the intent to innovate, cultural norms and structural constraints determine whether innovation efforts translate into sustainable outcomes. Gender Role Theory ^{1, 29– 31} explains how societal expectations shape the types of innovation strategies women can pursue, highlighting that innovation is both a strategic capability and a product of socio cultural and institutional conditions.

The synthesis suggests that promoting inclusive innovation requires coordinated interventions across education systems, societal norms, and policy frameworks. Developing supportive ecosystems that integrate skill development, mentorship, and culturally aligned funding is essential for enabling women led enterprises to compete effectively, sustain innovation, and achieve long term performance in diverse contexts.

Addressing the challenges facing women led SMEs requires the development of tailored support systems that respond to both socio cultural and strategic barriers. Revising lending models to include flexible terms can help overcome discriminatory practices and reduce the burden of collateral requirements that disproportionately affect women. Mentorship provides essential business guidance and opens access to investor networks, while targeted training in financial literacy, digital skills, and leadership builds the capacity for informed decision making and enhanced competitiveness. Structural constraints can be mitigated through digital commerce training and improved access to business resources. Legal reforms that promote equal property rights, streamline business registration, and introduce tax incentives are also crucial in lowering entry barriers. When supported by robust institutional frameworks and technology, these interventions equip women entrepreneurs with the tools to innovate, expand their enterprises, and contribute meaningfully to inclusive and sustainable economic development.

Legal reforms that safeguard equal credit access and property rights play a pivotal role in dismantling structural inequalities that hinder women-led SMEs. In Rwanda and Kenya, such reforms have contributed to increased financial inclusion and improved business ownership for women, setting an example for broader policy adoption. ^{44, 91} Enhancing women's entrepreneurial success also depends on targeted education in financial literacy, digital technologies, and leadership. Programs across the Asia Pacific region have shown how tailored capacity-building initiatives help women gain strategic competencies essential for growth. ⁵⁶

Mentorship and partnerships between NGOs and industries further contribute to the sustainability and resilience of women-owned enterprises. Such models offer practical insights, access to networks, and guidance on scaling businesses in competitive markets. ⁹² Institutional collaboration between government and private actors, like those implemented in Egypt, helps align national development goals with private-sector expertise to drive inclusive entrepreneurship. ^{93, 94}

Global initiatives like SheTrades play a transformative role in reshaping societal attitudes by promoting women’s integration into global markets. These platforms support gender-responsive trade, enable market access, and reinforce inclusive economic participation, thereby strengthening the overall positioning of women in business. ⁹⁵ Replicating and localizing such approaches could be vital to cultivating an enabling ecosystem for women entrepreneurs globally.

The main limitation of this study lies in its reliance on secondary data and its narrative review approach, which is interpretive rather than a systematic, reproducible meta-analysis. The findings may be affected by publication bias, as valuable insights from grey literature, non-English sources, or contexts where women’s entrepreneurship is under-studied could be overlooked. The qualitative synthesis, while rich in context and conceptual understanding, does not allow for quantitative conclusions about the strength or magnitude of the moderating relationships between socio cultural factors, strategic determinants, and performance. Additionally, rapidly evolving socio-cultural and institutional environments may not be fully captured in published literature, limiting the immediacy of insights regarding contemporary challenges and opportunities for women led enterprises.

Future research should employ mixed-methods longitudinal designs to trace the causal pathways through which specific socio-cultural factors influence strategic choices such as risk taking, innovation, and market positioning over time. Large-scale, cross-national quantitative studies are needed to test the moderating effects of institutional frameworks, societal attitudes, education, and resource access on women led enterprise performance. Investigating the role of male allies and evolving masculinities in reducing socio-cultural barriers could provide insights into how inclusive networks and social support enhance women’s strategic agency. Further studies should evaluate the effectiveness of culturally aligned financial interventions, digital infrastructure, and educational programs across diverse regions to identify best practices that foster sustainable enterprise growth. Finally, research should explore underrepresented contexts and grey literature to capture emerging trends and the lived experiences of women entrepreneurs, particularly in rapidly changing socio-cultural and institutional environments, ensuring a more complete understanding of the opportunities and constraints affecting women led enterprises.