Perception of opportunities in the regional economic groupings by Kenyan entrepreneurs: a case of Kenya National Chamber of Commerce and Industry
Abstract
This study focused on the perception of business opportunities by the Kenyan
entrepreneurs that have come about as a result of the formation of regional
economic blocks of the East African Community and Common Markets of
Eastern Africa.
The study made use of survey research method to investigate the perception by
administering a mailed questionnaire to the members of the Kenya National
Chamber of Commerce and Industry. The latter formed the sampling frame.
The formation of regional economic and trading blocks by countries is meant to
benefit among others the entrepreneurial community who exploit the enlarged
market areas within the region. The Eastern African region however has been
characterised by a situation of huge information asymmetry in the business
community, hence entrepreneurs are not always aware of the opportunities
availed to them by their governments joining the regional economic blocks.
In this study it was found out that awareness of specific entrepreneurial
opportunities was low though the perception was rather favourable. While a
significant percentage of the respondents showed little awareness of
opportunities, they nevertheless perceived the business opportunities availed to
be of high and moderate potential due to the increase in the market size.
Various issues were raised that would enhance the exploitation of opportunities
in the region like increased provision of business information, establishment of a
policy framework supportive of entrepreneurial exploitation in the region and
aggressive business practices like marketing by the entrepreneurs themselves.
Further researches in this field could be carried out comparing the perception of
opportunities by entrepreneurs by carster-sampfino various industries. Moreover
other researchers could make use of other sampling frames besides the KNCC I.
Publisher
School of Business, University of Nairobi
Description
Masters of Business Administration