Perceived Factors Affecting The Growth Of Women Owned Small And Medium Enterprises (Smes) In Events Management Sector In Nairobi County, Kenya
Abstract
Small and Medium Enterprises form the foundations of growth for numerous economies
particularly African nations. They represent a large number of businesses generating
employment and wealth. Women entrepreneurs are increasingly recognized as playing a
vital role in the unprecedented SMEs growth rate and indirectly to the economy of a
country. The Kenyan SME sector is equipped with the potential and the historic task of
shifting millions of people from the survivalist level including the informal economy to
the mainstream economy. The study is anchored on the Schumpeter and Kirzner‟s
theories of economic development and the Networking Theory. The objective of the
study was to identify the perceived factors affecting the growth of women owned small
and medium enterprises within the events management sector in Nairobi. While the
sector has immense potential to generate remarkable levels of income, contribute
substantially to the national economy and exhibit progressive sector growth, the situation
on the ground has not met these expectations. Despite the great potential and positive
impact events have on a country's economy, the sector experiences challenges like all
other sectors Dwyer et al., (2007). Low business growth and numerous other challenges
are evident in the sector. The study used primary data that was collected directly from the
targeted population using questionnaires. Further, descriptive research design was
utilized to assess the quantitative data and the results displayed in tables. Descriptive
research design was best suited for this study for its ability to provide information on the
characteristics of a given population or phenomenon. The study established that majority
of women owned businesses are faced with numerous challenges which include
networking, access to finances, access to markets, competition, shortage of skilled and
adequate human capital among others which hinder the expected growth of their
businesses. The study recommends; use of computer and web-based business networking
to build more business contacts; alternative sources of income such as merry-go-rounds
and “chamas”; enrollment into more business programs to educate themselves in different
management and entrepreneurial competences for effective decision making and
improved leadership skills; implementation into employee education programs to boost
skills.
Publisher
University of Nairobi
Rights
Attribution-NonCommercial-NoDerivs 3.0 United StatesUsage Rights
http://creativecommons.org/licenses/by-nc-nd/3.0/us/Collections
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