Challenges Facing Kenyan Women Entrepreneurship In MicroFinance Credit Accessibility: A Case Study Of Machakos County
Journal Title: International Journal of Business and Management Invention - Year 2018, Vol 7, Issue 7
Abstract
Micro, Small and Medium Enterprises are viewed as a key driver of economic and social development in the African context. They represent a large number of businesses in a country, generate much wealth and employment and are widely considered to be vital to a country’s competitiveness. The study is anchored entrepreneurship theories try to explain characteristics which differentiate successful entrepreneurs from less successful or unsuccessful ones. It is however acknowledged that among the factors that affect entrepreneurship development in the country is inaccessibility to credit. A descriptive research design was adopted for the study. Targets were 250 SMEs in Machakos County. A sample size of 60 women entrepreneurs was arrived at through proportionate stratified sampling Primary data was collected with the aid of questionnaires, the study used secondary data for literature review. A multivariate regression model was applied to determine the form of relationship accessing micro-finance credit and challenges facing women entrepreneur’s in Machakos County. The predictors were information access, lending conditions,financial literacy and Bureaucratic procedure. The study obtained a variation of 0.227 between micro-finance institutions; women entrepreneur’s accessing finance and the predictors.This is to mean that the independent variables: information access, lending conditions , financial literacy and Bureaucratic procedure explained 55% effects of micro-finance institution and women entrepreneur’s accessing finance at a 95% confidence levelthere is a positive relationship between women entrepreneur’s accessing finance and all the predictors as shown by beta coefficients: Information access (β = 0.213); Lending conditions (β = 0.242); Financial literacy; (β = 0.037) and Bureaucratic procedure (β = 0.003).The implication is that,information access, lending conditions,financial literacy and Bureaucratic procedure affect women entrepreneur’s accessing finance. An increase in any of the provision would definitely improve women entrepreneur’s accessing finance inMachakos County.
Authors and Affiliations
Robin Mariita. Aondo
Keywords
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