Major Determinants of Small and Medium-Sized Enterprises Growth in Ragwe Market, Homabay County, Kenya in Post Covid -19 (Published)
Small and Medium-Sized Enterprises (SMEs) play a pivotal economical role in various countries. The SMEs propel the growth of a country, create job opportunities, and increase the national income. There is a number of SMEs in Ragwe market on which many entrepreneurs rely for income and livelihood. However, SMEs growth is challenged with some of them dying in their first years of operations. The main objective of this study was to examine major determinants of growth of SMEs. The specific objectives were to examine how the i) management skills; ii) availability of ready market; iii) source of capital, iv) availability and accessibility to credit facilities, v) government policies and regulations affect the growth of SMEs in Ragwe Market. This was a cross-sectional study that targeted SMEs within Ragwe Market. A sample of 41 SMEs was selected using purposive sampling. The study made use of a questionnaire and SPSS 22 was used to analyse the data. The frequencies, percentages, chi-square test, multiple linear regression and ANOVA were used in data analysis. The study found that management skills, availability of ready market, source of capital, availability and accessibility of credit facilities, and government policies and regulations significantly influence the growth of SMEs in Ragwe Market (p < 0.05) with management skills being the most important determinant of SMEs growth. The regression model with the five variables managed to explain 73.9% of variance. Therefore, further studies should be done to capture more factors influencing SMEs growth in post covid-19 era.
Citation: Akoth C. and Mutabazi M. (2023) Major Determinants of Small and Medium-Sized Enterprises Growth in Ragwe Market, Homabay County, Kenya in Post Covid -19, International Journal of Small Business and Entrepreneurship Research, Vol.11, No.1, pp.,25-39
Keywords: Capital, Growth, Management Skills, SMEs, credit facilities, government policies and regulations, ready market
Factors affecting the capital structure: a case study of real estate companies listed on stock market in vietnam (Published)
The real estate market plays a significant role in the development of the economy. It is a factor contributing to promote investment capital mobilization, to improve production and development. This market is increasing state budget revenues, expanding markets, and contributing to socio-economic stability. Therefore, this study conducted to find the relationship of factors with the capital structure for real estate companies, in particular, real estate companies listed on Vietnam’s stock market. The researchers used multiple regression analysis, the capital structure status of real estate companies surveyed from 2017 to 2019. The sample included 94 real estate companies listed on the stock market in Vietnam. The research results found out the factors that affect the capital structure. These results had a scientific basis to help real estate companies refer to adjusting their capital structure, contributing to improving their competitive ability and development of the real estate.
Keywords: Capital, Market, Structure, and real estate, stock
The Influence of Access to Finance and Government Policies on the Growth of Small and Micro-Enterprises Growth in Kenya (Published)
Small and Micro Enterprises (SMEs) in developing countries and Kenya in particular face numerous challenges in their path to growth and expansion. Despite the many startups and government effort to improve the regulatory and institutional framework in Kenya, most SMEs do not evolve into medium enterprises. This paper sought to determine influence of access to finance and government policies on the growth SMEs in Kenya. The research design employed in this study was the descriptive cross sectional design that used a purposive survey. The study targeted SMEs situated in Nairobi City and operating in four sub-sectors of the economy namely: transportation and storage; accommodation and services activities; information and communication; financial and insurance activities; and professional, scientific and technical activities. A total of 395 SMEs were sampled using stratified technique and response rate registered was 88.1%. Primary data were collected through questionnaires administered on owners and managers of SMEs by the researcher by way of structured interviews. Data analysis procedures were carried out and the data coded before running the initial summaries in Statistical Package for Social Sciences (SPSS). Chi-square test of association at a 5% level of significance was used to explore the relationship between variables. The study found out that, access to finance is a critical factor in the establishment, development and growth of the SME sector. The financial system although relatively developed in Kenya is still skewed towards the established businesses. Despite the focus on policy on development of SMEs, it was found out that, government policies had the least influenced on the growth of SMEs. Consequently, there is need for review of the banking capital requirement rules to allow more banks to operate in the market. There should be use of the established mobile money technology platforms to allow individuals to directly purchase treasury bills for transparency in the financial market. This will have a positive impact on the interest spread and allow cheaper credits to private sector especially the SME sector. There is need for specialized financial institutions funded by government and development partners that will house all the government special funds destined for the SME sector.
Keywords: Capital, Government Policies, SME, Technology