Financial Management Practices and Turnover Growth of Micro and Small Enterprises: A Case of Uwezo Fund in Kwale County, Kenya

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dc.contributor.authorMogaka, Moses Ogendi
dc.contributor.authorKoori, Jeremiah
dc.date.accessioned2023-07-17T09:20:29Z
dc.date.available2023-07-17T09:20:29Z
dc.date.issued2018
dc.descriptionArticleen_US
dc.description.abstractEmpirical attestation, economic evidences and industrialization practices have established the immense contributions of Micro and Small Enterprises (MSEs) in developed nations and the continuous acceleration of economic growth among developing countries. The government of Kenya had been increasing funding of small enterprises through escalation of Uwezo fund as was evidenced from annual budgetary allocations by the national treasury. Out of the Ksh.5.161 billion of Uwezo Fund that had been disbursed since the year 2013, nationally, ksh.91.6 million of the disbursement was channelled to Kwale County. Despite the disbursement, the turnover growth of MSEs in Kwale County had only been a mere 5 per cent. This is far much less than the expected turnover growth of 15 per cent given the huge investments by the fund. This study examined the effect of financial management practices on turnover growth of micro and small enterprises in Kwale County, Kenya. Specifically the study draws on financing decisions, investment decisions, working capital management decisions, profit distribution decisions and how they influence turnover growth of such MSEs. A descriptive survey method of research was employed in conducting the study. The study population were the 911 registered MSEs that have received a financing facility from Uwezo Fund in Kwale County. Stratified random sampling was applied to choose the sample size which translated to 270 MSEs managers. Structured questionnaire was used to gather data from the respondents. The data obtained was analysed for ANOVA, regression analysis, and descriptive statistics. SPSS computer software was utilised in data coding and analysis. The results indicate that financing decisions had a moderate significant positive correlation with turnover growth of MSEs. Investment decisions had a fairly strong and significant positive correlation with turnover growth. Working capital management had a strong positive correlation with turnover growth of MSEs in Kwale County while profit distribution had a week positive correlation with turnover growth of MSEs in Kwale Countyen_US
dc.identifier.citationMogaka, M. O., & Koori, J. (2018). Financial management practices and turnover growth of micro and small enterprises: A case of Uwezo Fund in Kwale County, Kenya. International Academic Journal of Economics and Finance, 3(2), 44-66.en_US
dc.identifier.otherhttp://www.iajournals.org/articles/iajef_v3_i2_44_66.pdf
dc.identifier.urihttp://ir-library.ku.ac.ke/handle/123456789/26255
dc.language.isoenen_US
dc.publisherFull Length Researchen_US
dc.subjectfinancial management practicesen_US
dc.subjectmicro and small enterprisesen_US
dc.subjectUwezo Funden_US
dc.subjectKwale Countyen_US
dc.subjectKenyaen_US
dc.titleFinancial Management Practices and Turnover Growth of Micro and Small Enterprises: A Case of Uwezo Fund in Kwale County, Kenyaen_US
dc.typeArticleen_US
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