Microfinance Services and Financial Performance of Women Owned Enterprises in Migori Township, Kenya.
Loading...
Date
2020
Authors
Oyugi, Nancy Atieno
Journal Title
Journal ISSN
Volume Title
Publisher
International Academic Journals
Abstract
Although women owned enterprises play an
important role in ensuring the growth of an
economy, most of these businesses face
challenges including limited access to
credit facilities and limited skills among
women owners. Commercial banks have
consistently remained reluctant to advance
credit facilities among low income earners
who mostly comprise of these women
owned enterprises. Majority of the women
owned enterprises are still at micro level
with limited ability to transact in larger
profitable firms because of limited access to
financial resources. The study sought to
bridge the gap by establishing the effect of
Microfinance Services and financial
performance of women owned enterprises
in Migori Township, Kenya. The study was
guided by the following objectives; to
establish the effect of loan facilities, saving
services, capacity building and market
facilitation affect financial performance of
women owned enterprises in Migori
Township, Kenya. The study will be
important to the management of women
owned enterprises in Kenya, regulatory
bodies including the CBK and future
scholars and academicians. The study was
anchored on the following theories;
Entrepreneurship theory and Social theory.
The study used descriptive research design.
The population of the study was 1281
women owned enterprises in Migori
Township. The study applied stratified
random sampling technique. The sample
size will therefore be 296 women owners of
registered enterprises in Migori Township.
The collected data was qualitative and
quantitative in nature. To analyze
qualitative data, content analysis was
employed. For quantitative data, the
researcher employed both descriptive and
inferential statistics for analysis that
covered means, standard deviations and
regression analysis. The data was presented
using tables, charts, frequencies,
percentages, graphs and figures. The study
concluded that the selected microfinance
services which included credit facilities,
savings services, capacity building services
and market facilitation were to a significant
extent offered by the MFIs in the area and
had a positive effect on the performance of
women-owned enterprises. The study
recommends that the women-owned
enterprises need to embrace the
microfinance services offered by MFIs in
the area to propel them to peak
performance. The study recommends that
the MFIs need to train and mentor the
enterprises on financial management and
credit use before extending the credit
services to improve ability of them to repay
and use the resources well.
Description
A research article published in International Academic Journal of Economics and Finance
Keywords
microfinance services, financial performance
Citation
Oyugi, N. A., Jagongo, A. (2020). Microfinance services and financial performance of women owned enterprises in Migori township, Kenya. International Academic Journal of Economics and Finance, 3(6), 262-280