Access to Financial Credit Products and Its Influence on Entrepreneurial Performance among Micro and Small Enterprises in Kericho County, Kenya. (Published)
Financing includes all initiatives directed towards making formal ﬁnancial services available and accessible. Researchers have argued that lack of financing is almost universally indicated as a key problem for micro and small enterprises. The study was guided by the following objectives: to establish the influence of financial access and financial credit products on entrepreneurial performance among micro and small enterprises. The study adopted a cross sectional survey design from a population of 7277 micro and small enterprises from which a sample of 380 were given questionnaires. SPSS version 25 was used in data analysis. The research concluded that repayment period for loans was not flexible even after top up or second facility. Micro and small enterprises need guarantors to access financial credit facilities. The study recommended that financial institutions ensure they are serving and coming up with credit facilities tailored to the needs of micro and small enterprises in Kenya.
Microfinance and Performance of Micro and Small Enterprises; Does Training Has an Impact (Published)
Access to finance is considered as very important for gaining high performance of Micro and Small Enterprises (MSEs). Yet it has been observed that despite the availability of access to finance the performance of several MSEs is poor, which is a major hurdle in the growth rate of MSEs. The purpose of this study was to find the difference in certain performance indicators of MSEs who owners have been given training against those whose owners have never been given any kind of training. In order to conduct study survey research has been conducted and a sample of 384 MSEs was selected on simple random basis. The findings revealed that all the performance indicators including sales increase, income increase, assets increase, employment increase, and meeting household expenses have shown a significant difference among the two groups. The findings of the study are very important for the policy makers and the people who are involved in microfinance industry.