| dc.description.abstract | The study was carried out to examine the aspect of the present day financial literacy of
small and medium scale enterprises in Trans Nzoia County on business performance.
More specifically, the study addressed the effect of financial literacy on performance of
small and medium enterprises in Trans Nzoia County. The researcher used a descriptive
research design. A sample of 85 SMEs was selected using stratified random sampling
technique. The study population was stratified as hardware businessmen, clothes dealers,
general retail traders and others. The study employed questionnaires to collect data from
the field. Data was typeset using a computer to ease preparation of the report. Data was
then tabulated and presented using descriptive statistics. The results of the research
indicate that more performing SMEs employs more than three permanent employees,
have been in business for more than five years, has an annual revenue growth of more
than 10% and are basically financial literate. Secondly the researcher establishes that
there is a positive strong effect of financial literacy on SMEs performance exists. Finally
the researcher report urges the providers of various financial literacy programs to
consider implementing a program which fits the culture and traditions of the context
targeted and avoid one size fits all because different SMEs have different experiences.
County of Trans Nzoia should focus more on the secondary education where technical
and vocational training should be done to develop artisans, entrepreneurs and managers
for the informal sector in both rural and urban centers. | en_US |
