Mentoring, intersectionality and awareness of SME finance initiatives

Citation

Mwaura S, Knox S & Carter S (2026) Mentoring, intersectionality and awareness of SME finance initiatives. Small Business Economics. https://doi.org/10.1007/s11187-026-01224-5

Abstract
Despite a history of low uptake, particularly among women and ethnic minorities, public and private finance initiatives can be invaluable for entrepreneurs. This study examines the relationship between mentoring and awareness of SME finance initiatives, with a particular focus on the gender and ethnicity of mentee entrepreneurs. Analysing the UK SME Finance Monitor data, we find that mentors are positively associated with awareness, more so for private-sector finance initiatives and among minority women. Drawing on Relational Cultural Theory, we find that mentoring may abate awareness gaps among minority entrepreneurs but may also reinforce native White advantage. However, suggesting novel intersectional mentoring benefits, awareness rates for mentored minority women are similar to those of mentored native White women. In contrast, we find evidence of under-performance of both mentored and unmentored minority males in their awareness of finance initiatives. Our conclusions suggest mentoring helps reduce disadvantage for some entrepreneurs but also contributes to processes that produce, reduce and reproduce disadvantage along gender and ethnic lines.

Keywords
Enterprise support; Finance; Awareness; Mentoring; Ethnicity; Gender

Journal
Small Business Economics

• Published Version