Entrepreneurial Competencies and Performance of Women-Owned Micro and Small Agribusiness Enterprises in Bomet County, Kenya

Abstract

Entrepreneurship is becoming more widely recognized as a key driver of economic development, efficiency, innovation, and employment, as well as a key component of economic dynamism. Entrepreneurial competencies have contributed to the growth and expansion of most women-owned micro and agribusiness enterprises in. The women-owned Agribusiness has field is developing rapidly and widely to include entrepreneurs who are committed to solving societal problems. However, despite numerous government policies aimed at boosting women-owned micro and agribusiness enterprises in Kenya, the growth rate of such businesses has remained low. This has over time been attributed to various challenges women encounter in the course of their economic empowerment. The research aimed achieve the following specific research objectives; to analyze the effect of savings mobilization on the success of women-owned micro and small agribusinesses; to evaluate the effectiveness of entrepreneurship training on the success of women-owned micro and small agribusinesses; to analyze the impact of market research on the success of women-owned micro and small agribusinesses; and to analyze the effect of financial accessibility on the success of women-owned micro and small agribusinesses. The study targeted 381 women operating their agri-businesses enterprises in Bomet County, Kenya. From a total of 381, the researcher randomly selected 79 women-owned enterprises in Bomet County. Quantitative data were gathered mostly using a questionnaire with no open-ended questions. The results were analyzed with both descriptive and inferential statistics. Frequency and percentage breakdowns, as well as inferential statistics such as regression analysis, were employed. The outcome was showed in tables and charts. The study outcome revealed an existing positive and significant correlation between financial accessibility, entrepreneurship training, market research and savings mobilization and performance of women-owned enterprises. These results suggest that greater availability of bank loans has facilitated the growth of many small and micro-sized agricultural enterprises owned by women in Bomet County. The study found that having easy access to capital was crucial to the success of both new and existing enterprises. The study concluded that women micro and small agribusiness enterprises conduct market research to assess customer needs. The study concluded that the women micro and small agribusiness enterprises has diversified revenue sources to enhance savings. It is possible to provide a recommendation based on the results that, Bomet County Women micro-entrepreneurs should register their establishments and observe regulatory necessities to reduce turbulences of their business processes. For this will boost the chances of obtaining financing from financial organizations and women groups. The women of Bomet County should also dedicate significant time and effort to developing a clear purpose and goal for their micro-businesses.