Browsing by Author "Boneface Wanjala Wekesa"

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CREDIT ACCESS ON GROWTH OF SME IN KENYA
(management university of africa, 2023-11) Boneface Wanjala Wekesa; Dr. Samuel Thiong’o
In order to determine the effect of credit access on Growth of SME in Kenya. The paper employs descriptive research design and makes use of quantitative modes to assess the effect of credit access on Growth of SME in Kenya. Desktop research review was conducted to support the data collected through Likert scale questionnaires and analyzed using SPSS version 20. Data above demonstrates that, Credit access had a higher mean, and this could be related to the mobile loans (Mshwari) that are available for every mobile user, and the SME community have taken advantage of the access to small loans. The mean score for statements ranged from 3.9135 for the statement “The firm encourages bank deposits for every transaction”, a mean score of 3.8300 for the statement “The firm encourages accounts payments as opposed to cash payment” meanwhile a mean score of 3.8271 for the statement “The firm encourages accessing financial services” and a mean score of 3.7839 for the statement “Firm Management encourages access to credit” finally the statement while “ The firm encourages insurance services as part of risk management” established a mean score of 3.7637 “. The paper concludes that, bank deposits for every transaction were considered an appropriate method of transacting in SMEs. Access to reasonable finances remains a tenacious challenge for SMEs in Kenya and financing of SMEs is profoundly reliant on loans from customary sources including commercial banks, SACCOs and microfinance establishments.