WACHILONGA'S PROJECT.docx - EFFECT OF MICRO-FINANCE INSTITUTIONS EMPOWERMENT STRATEGIES ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES ALONG KIRINYAGA

WACHILONGA'S PROJECT.docx - EFFECT OF MICRO-FINANCE...

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EFFECT OF MICRO-FINANCE INSTITUTIONS EMPOWERMENT STRATEGIES ON PERFORMANCE OF SMALL AND MEDIUM ENTERPRISES ALONG KIRINYAGA ROAD, NAIROBI . LUMUMBA EDWIN WACHILONGA BE100/G/1241/15 A RESEARCH PROJECT SUBMITTED IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF DEGREE OF BACHELOR OF COMMERCE, FINANCE OPTION. APRIL 2019
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DECLARATION This project is my original work and has never been presented for a degree course in any other University. Signature……………………………………… Date……………………… Lumumba Edwin Wachilonga. BE100/G/1241/15 This project has been submitted for examination with my approval as the Supervisor Signature…………………………………….… Date…………………… Mrs. Violet Njeru. i
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DEDICATION This project is dedicated to my entire family. Their valuable encouragement, time and support were very instrumental in the project writing period and entire duration during my Bachelor’s Degree Programme. ii
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ACKNOWLEDGEMENT I thank the Almighty God for His grace and strength which He gave me in the course of writing this project. May all glory and honor be unto Him forever. I greatly acknowledge and appreciate the guidance of my supervisor, Violet Njeru, who was available and timely to read the drafts and correct me in every step in the course of writing this project. Lots of thanks to my family who supported me and showed concern and understanding even when I sat late into the night working on the project. I owe a lot to my colleagues who gave me encouragement and positive criticism as I progressed with the project’s work. iii
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LIST OF ABBREVIATIONS FSD Financial Sector Deepening GDP Gross Domestic Product MFIs Micro Finance Institutions SMEs Small and Medium Enterprises UNDP United Nations Development Programme UNIFEM United Nations Entity for Gender Equality and the Empowerment of Women iv
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DEFINITION OF TERMS Micro-Finance Institutions Microfinance institutions are institutions that provide credit services and other financial services to the poor in the form of small loans or savings (Harris, 2014). Microfinance The term microfinance specifies ‘the offer of financial services to customers with low income levels’. According to this definition, microfinance targets low income category people who have access to the formal lending system. Microfinance is the provision of a broad range of financial services such as credit and savings to poor and low-income household and their micro enterprises particularly women (Nader, 2008). v
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ABSTRACT This study was aimed to examine the role of microfinance on the performance of Small and Medium Enterprises in Kirinyaga road, Nairobi County. The research design employed was a descriptive research design. Data was collected from 100 respondents. Stratified sampling techniques were used. Data was collected using questionnaires. Data was analyzed using descriptive statistics and MS Excel. Results show that Small and Medium Enterprises have been able to improve businesses in term of; increased business profit, increased sales
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