Factors influencing success of youth enterprises in Ndaragwa Constituency, Nyandarua County, Kenya

Abstract

The purpose of this study was to provide information that would help in enhancing businesses owned by youth by establishing the factors that influence success of youth owned enterprises. Five research objectives were formulated to guide the study. Descriptive survey design was used when carrying out the study. The sample comprised of 25 respondents.

The study used questionnaire and interview for the key informants. Findings revealed that social and cultural attitudes influenced youth enterprises. For example, youth had different views regarding youth perception towards entrepreneurship. These included; youth have a negative attitude towards entrepreneurship, they should join different youth groups to get to know, most of them do not realize their potential of national policies, they should be encouraged on self employment, there should be creation of awareness on the importance of entrepreneurship and that youth fear risking and also lack acceptance of their ages.

The key informants indicated that the youth were quite positive about entrepreneurship and were eager to learn more and are taking it positively. They were also yearning to get into business enterprises. Findings also revealed that access to entrepreneurship education, training and skills influenced youth enterprises. For example, youth respondents indicated that there was need for auditing the cash flow to prevent fraud among group members. There was also need to go through financial education before obtaining the entrepreneurship license, there was need for regular seminars with youths who have succeeded in businesses, the youth should be granted loans.

They also indicated that entrepreneurship studies should be introduced in schools' system, the youth should be provided with civic education. Youth should come together and share ideas and should also be provided with financial advice on how to access and utilize loans. Findings further revealed that access to finance/start-up finance influenced youth enterprises.

Findings also indicated that administrative and regulatory framework influenced success of youth enterprises while findings also indicated that business assistance and support influenced the success of youth enterprises. Based on the findings of the study, it was concluded that social and cultural attitudes influenced youth enterprises. For example, youth had different views regarding youth perception towards entrepreneurship. These included; youth have a negative attitude towards entrepreneurship, they should join different youth groups to get to know, most of them do not realize their potential of national policies, they should be encouraged on self employment, there should be creation of awareness on the' importance of entrepreneurship and that youth fear risking and also lack acceptance of their ages.

The key informants indicated that the youth were quite positive about entrepreneurship and were eager to learn more and are taking it positively. They were also yearning to get into business enterprises The study also concluded that access to entrepreneurship education, training and skills influenced youth enterprises. Youth respondents indicated that there was need for auditing the cash flow to prevent the fraud among group members. There was also need to go though financial education before obtaining the entrepreneurship license, there was need for regular seminars with youths who have succeeded in businesses.

The study also concluded that access to finance/start-up finance influenced youth enterprises. The study also concluded that administrative and regulatory framework influenced success of youth enterprises. Youth faced administrative procedures, bureaucracy and red tape when registering their businesses. Other administrative hurdles included taxation regulation, tax level, competition law, and national trade policy.

The study also concluded that business assistance and support influenced the success of youth enterprises. Based on the findings it was recommended that there is need to have formal 'training for new entrepreneurs before they start their occupation. It was also recommended that there is need to empower the youth in identifying their abilities in entrepreneurship. There is need to cultivate in the youth a positive attitude towards self employment to enable them understand that formal employment is not the only way of self development. It was lastly recommended that the education curriculum should assess the need of including entrepreneurship subjects so that the youth can be prepared to take up entrepreneurship.