Effects of Financial Sources and Socio-Cultural Factors on Performance of Women-Owned Manufacturing Enterprises in Kisumu City County, Kenya
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Date
2023
Authors
Otieno, Julia Adongo
Wawire, Nelson
Journal Title
Journal ISSN
Volume Title
Publisher
EJEFR
Abstract
Women-owned enterprises play a significant role in contributing to a country's Gross
Domestic Product (GDP) by creating employment opportunities. However, the
manufacturing sector in Kisumu City County, has witnessed poor performance, coupled
with less than 10 percent of the women participating in this sector. Despite this poor
performance and low participation rate, there has been limited exploration into the
factors influencing the performance of women exclusively within this sector. Therefore,
the study aimed to determine the effects of financial sources and socio-cultural factors on
the performance of women-owned manufacturing enterprises. The study employed a
descriptive research design. Data was gathered through a questionnaire administered to
48 women selected using a simple random sampling technique. Descriptive and
inferential statistics were applied to analyze the data using Excel and STATA Software.
The results of multiple regression analysis established that women who secured funding
from banks during shortages and initial capital depicted high performance. Additionally,
factors such as household size, spousal decision-making regarding property utilization,
and spousal control over the enterprise earnings had a negative effect on the performance
of women-owned manufacturing enterprises in this County. The study recommends that
policies need to be formulated to finance informal sectors such as Chamas where the
majority of women prefer to increase the amount of loan accessed. Additionally, women
should acquire more advanced entrepreneurial skills that are instrumental in making
independent decisions and having better control over productive resources without
utterly relying on their spouses.
Description
Article
Keywords
financial sources, socio-cultural factors, women-owned enterprises, performance
Citation
Otieno, J. A., & Wawire, N. (2023). EFFECTS OF FINANCIAL SOURCES AND SOCIO-CULTURAL FACTORS ON PERFORMANCE OF WOMEN-OWNED MANUFACTURING ENTERPRISES IN KISUMU CITY COUNTY, KENYA. European Journal of Economic and Financial Research, 7(4).