Women, Finance, and Growth: Evidence from the DanaNITA Financial Program

Access to financing continues to pose significant challenges for women entrepreneurs, particularly in developing countries. In response, the DanaNITA program by Majlis Amanah Rakyat (MARA) was established to support Bumiputera women entrepreneurs through targeted financial assistance aimed at improving business performance and household income. This study examines the effectiveness of DanaNITA program using quantitative method from 207 women entrepreneurs across various business sectors in Malaysia. Data was collected through a structured survey to compare key business indicators—such as sales, profit, employment, and household income—before and after receiving the financing. The study is guided by the Resource-Based View, which positions financial capital as a valuable external resource that can enhance internal business capabilities. The findings indicate positive changes in several areas of business performance, including profit, employment, and household income, following the receipt of DanaNITA financing. However, improvements in sales performance were more varied, suggesting the need for additional support mechanisms beyond funding alone. This research offers practical insights for policymakers and program designers, emphasising the need for complementary support services such as marketing assistance and advisory guidance alongside financial aid. It also contributes to the broader discourse on inclusive entrepreneurship and provides a foundation for strengthening women-targeted financial programs in Malaysia and beyond.