We design and apply a randomised controlled trial that seeks to examine the overall impact of a nationwide training program for female entrepreneurs that own small or medium businesses in the tourism and garment sectors in the Kyrgyz Republic on outcome variables related to business growth and decision making. Unlike other studies, we are able to exploit panel data based on three rounds of post-intervention surveys, plus the baseline. Thus, four data rounds in total. We use an ANCOVA model and find small positive impacts on longer-term investments in labour inputs, though these investments do not translate into higher sales or profits.