FEMALE ENTREPRISE DEVELOPMENT (A Case study of graduate women in Nairobi) (MANAGEMENT PROJECT TOPICS AND MATERIALS)
ABSTRACT
In recent years the subject of female entrepreneurship has attracted a lot of attention. The contributions made by female entrepreneurs to economies in terms of creation of new businesses and jobs; consequently spurring economic growth and reduction of levels poverty and unemployment have been recognized as invaluable.
Launched in 2008, Vision 2030 is Kenya’s development scheme aimed at changing the status of Kenya from a developing into a developed middle class country by the year 2030. The vision includes delivering an ambitious economic growth of 10 percent per annum, coupled with correcting the existing social and economic inequalities. Therefore, it is essential that the Kenyan government positions entrepreneurship and in this context female entrepreneurship at the center of its economic development agenda. Female entrepreneurs can make a significant contribution to the economic development in Kenya.
The primary objective of this study was to identify the obstacles women face at the start-up and development phases of their businesses with an aim to produce appropriate development services. A survey that included 120 graduate women in Nairobi was conducted.
The findings indicated that the obstacles encountered at the start-up and development stages of female owned enterprises are; access to finance, finding the right contacts and business networks, lack of entrepreneurship education, lack of management skills, lack of advice on how to start an enterprise, lack of mentoring and lack of business strategic planning.
This study proposes pragmatic and comprehensive recommendations to policy makers and other relevant stakeholders to address these obstacles. Better policies and initiatives need to be developed to create a more favorable business environment, in order to gain the full potential of women entrepreneurs in Kenya and as a consequently contribute to the economic prosperity of Kenya.
Key words: Female entrepreneurship, entrepreneurship, challenges, Nairobi County, graduate women, Vision 2030, Kenya.
