Factors influencing access to credit facilities by women entrepreneurs in Karachuonyo sub-county; Homa bay county.
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Date
2015Author
Ajwang, Wilkister N
Type
ThesisLanguage
enMetadata
Show full item recordAbstract
The purpose of this study was to investigate factors influencing access to credit facilities by
women entrepreneurs in Karachuonyo Sub County. This was because different surveys on the
status of entrepreneurship in the area indicated that these initiatives were doing poorly due to
absence of sufficient funds. The study was therefore guided by the objectives, to evaluate how
interest rates, collaterals, repayment history and credit processing procedures influence access to
credit facilities by women entrepreneurs in Karachuonyo Sub County. The study was grounded
on the basic assumptions that the final sample drawn for the study would reflect the key features
of the target population; respondents would be willing to give information honestly and
objectively and that the data collection instruments would be valid and reliable in measuring
what they purported to measure. The study being descriptive in nature, descriptive research was
adopted. It targeted a population of 1908 women entrepreneurs in small and medium enterprises,
from where a sample size of 191 respondents was drawn. Data was collected using questionnaire,
pretested before the actual data collection in order to establish its effectiveness. Data analysis
was done using descriptive statistics in the form of frequencies and percentages. The study
findings revealed that the key study variables that informed this work, in a great measure, were
found to have had significant influence on access to financial services by small business holders
in Karachuonyo Sub County. Cost of credit took the form of charges that generally make it
intricate for small business entrepreneurs to access funds from financial institutions. Finally, the
study recommends that useful measures to be embraced by several stakeholders in different
ways. To begin with, the government should strengthen fiscal policies promoting growth of
small business entrepreneurs, both for those nursing business ideas and those already in different
engagements. Besides, financial institutions should also tailor their products to suite the financial
requirements of small business entrepreneurs. Moreover, the entire financial sector should
develop in house training policies geared towards equipping the beneficiaries with credit
management skills. Lastly, the government in its quest to address issues of unemployment and
poverty eradication should formulate training policies that integrate entrepreneurship at all levels
of learning in both formal and informal arrangements.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
- Faculty of Education (FEd) [5979]
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