An investigation of factors influencing the growth of micro and small enterprises owned by youth entreprenuers
Osogo, Danvas Marube
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This study was undertaken to find out the challenges facing the youth entrepreneurs and come up with probable solutions that could be applied to solve these challenges. The need for this study arose from the fact that many of the MSEs owned by the youth perform quite poorly especially when a comparison is made with regard to adult entrepreneurs. This is despite the fact that a lot of effort has been employed by research institutions, government and non-governmental bodies to help youth entrepreneurs improve themselves, their enterprises and hence uplift their standards of living. The youth Entrepreneurs are increasing rapidly though faced with a number of challenges. The purpose of this study is to bridge the research gap by examining the challenges that affect the growth of youth-owned MSEs in Kenya. The study was conducted using descriptive study design. The target population was the entire youth owned/operated MSEs in Nyamache Township amounting to 200 business units of which a sample of 30% was selected using simple random sampling method to give a sample of 60 business units. Data was collected using a structured questionnaire which was administered to the youth-owner/managers operating various small scale enterprises in the town. The data obtained was analyzed presented using tables, pie charts and bar graphs as this method presented the nature of variables interacting and the anticipated relationship. This study has recommended that small business owners need to embrace the importance of education and appropriate training in order to gain the relevant skills needed in business. There is also need for frequent adjustments in marketing skills and seminars in business management and financial management to youths owning/operating micro and small enterprises. The study also recommends implementation of conducive and relaxed regulatory policies to make the businesses affordable. This study suggests further research on why implementation of government sessional papers on MSEs is yet to be achieved, and why small business owners Shy away from borrowing from commercial banks.