Abstract Do firms with majority female ownership differ from firms with minority female ownership or male‐owned firms in terms of perceived constraints on accessing finance? Using World Bank Enterprise Survey (WBES) data for Indian firms, our results show that there is no significant difference in male‐ and female‐owned firms in terms of their perceptions about accessing finance. Yet, this is true only for firms with minority female ownership (less than 50%). Firms with majority female ownership do perceive more constraints on accessing finance relative to firms with minority female ownership or zero female ownership. Based on demand‐ and supply‐side factors relating to business inexperience, weaker networking, and lender perceptions, as suggested by signalling and gender congruity theories, the results imply that majority‐female‐owned firms need to negotiate more for financing access, as they need to display positive signals for those investors who might possess stereotypical and gendered beliefs about the abilities of entrepreneurs. We also find that in relation to funding sources being one's own retained earnings or money from family and friends or advances from clients, majority‐female‐owned firms do not perceive financial barriers differently from male‐owned firms or firms with minority female ownership.
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