Influence of Savings as A Component of Women Enterprise Fund Program on Growth of Small and Medium Enterprises in Naivasha Sub County, Kenya
Journal Title: International Journal of Business and Management Invention - Year 2017, Vol 6, Issue 9
Abstract
Women owned SMEs are important to the development process and it would be beneficial for African countries to promote these SMEs by mainstreaming their needs into the countries’ development programs for further growth. Special programs like the Women Enterprise Fund (WEF) program can be initiated to further develop these women owned SMEs. This study investigated the influence of savings as a component of the WEF Program on the growth of Small and Medium Enterprises (SMEs) operated by women entrepreneurs in Naivasha Sub County, Kenya. The study used a descriptive survey design. The study targeted 1160 women entrepreneurs registered with WEF within Naivasha Sub County and 10 key informants working at Naivasha WEF sub county office. From these, a total of 348 Small and Medium Enterprises owners and 3 key informants working at WEF Naivasha sub county office were sampled through simple random sampling method. Data was collected using questionnaires and Interview schedules. Data collected was coded and analyzed using SPSS tool. Findings of the study were presented using descriptive and inferential statistics which involved use of frequency tables and figures. Each table followed by brief explanations, inferences and interpretations of the findings from the earlier related reviewed literature with the aim of bridging the research gaps through seeking for the solutions of the study problem.The study found out that mode of saving affected growth of SMEs to a great extent as indicated by a mean of 4.43 and standard deviation of 0.16. The study concluded that mode of saving, strategies of saving and stock levels affected growth of SMEs to a great extent. The study recommends WEF programme should encourage women to save their earnings and to plough them back into their businesses.
Authors and Affiliations
*Alfred Miluge Oscar Gogi1 ,, Charles M. Rambo2 ,, Joyce A. Osogo3
Keywords
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