Factors influencing sustainability of micro and small scale enterprises (SMES) projects funded under the women enterprise fund in Mombasa county, Kenya

Abstract

About 60% SMEs projects run by women have been found to fail annually across the globe due to various prevailing reasons. This study however has the view that most SMEs run by women in the recent years have been doing a lot so as to place themselves strategically in the market and enhance their sustainability. The purpose of this study therefore was to find out the factors influencing the sustainability of SMEs projects run by women under the WEF in Mombasa county; Kenya. The study was guided by four objectives that sought to; determine the extent to which financial resources influence the sustainability of small scale and micro enterprises projects funded under Women Enterprise Fund in Mombasa County, examine the extent to which socio-cultural factors influence the sustainability of small scale and micro enterprises projects funded under Women Enterprise Fund in Mombasa County, examine the extent to which marketing influence the sustainability of small scale and micro enterprises projects funded under Women Enterprise Fund in Mombasa County, and, establish the extent to which technology influence the sustainability of small scale and micro enterprises projects funded under Women Enterprise Fund in Mombasa County, Kenya. The objectives also formed the themes in literature review. A descriptive research design was adopted for the study. In the study purposeful sampling was used in accordance to the characteristics of the elements in the population possess. The research targeted managers/owners of women run SMEs in Mombasa County. The target population was 368 registered SMEs but a population sample of 79 was used. A pilot study was conducted to check the instruments reliability and validity. Data was collected using a structured questionnaire which was administered personally, via e-mails, enumerators and picked them after they had been filled. Data was coded and analyzed using the SPSS. The hypothesis was tested to determine the relationship between the independent and dependent variables using Pearson Chi-square at 95% level of confidence. The relationship between financial resources, Socio-cultural factors, marketing and technological factors influence the sustainability of Women Enterprise Fund in Mombasa County, Kenya. The researcher recommended that the National Government ought to improve on the sources of funding, promote entrepreneurial culture and also promote SMEs through provision of technology and marketing strategies.