Influence of Risk Management Practices on the Performance of Small Micro Enterprises in Eldoret Town, Kenya

Influence of Risk Management Practices on the Performance of Small Micro Enterprises in Eldoret Town, Kenya
Author :
Publisher : GRIN Verlag
Total Pages : 19
Release :
ISBN-10 : 9783668789333
ISBN-13 : 3668789339
Rating : 4/5 (339 Downloads)

Book Synopsis Influence of Risk Management Practices on the Performance of Small Micro Enterprises in Eldoret Town, Kenya by : Judith Jebichii Tuwei

Download or read book Influence of Risk Management Practices on the Performance of Small Micro Enterprises in Eldoret Town, Kenya written by Judith Jebichii Tuwei and published by GRIN Verlag. This book was released on 2018-09-03 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Research Paper (postgraduate) from the year 2018 in the subject Business economics - Miscellaneous, , language: English, abstract: Risk management focuses on adopting a systematic and consistent approach to manage all of the risks confronting organization. Risks distinctiveness applicable to SMEs in Kenya include: uncertain risk, a chance of loss, normally accidental, sudden and unforeseen. This uniqueness makes entrepreneurs to seriously think about risk, its impact on their businesses and how risk can be managed. It is therefore important to investigate the influence of risk management practices on performance of small micro enterprises. Five specific research objectives guided the study i.e. to identified the Components of risk in small and medium enterprises (SMEs, to examine the various kind of risk connected with SMEs, to identified risk management methods and techniques used to determine and monitor risks within SMEs, to determine the effect of risk management practices on SMEs performance and to identify impediment associated with risk management of SMEs in Eldoret. The descriptive research was employed in the study. The target population comprises of SME operators mainly drawn manufacturing, services and processing within Eldoret CBD. The sample for the study was selected using stratified random and simple random sampling methods. The research instruments were questionnaire, observation and interview. The data was analyzed using descriptive statistics (frequency tables), while correlation and regression analysis were used to test the hypotheses. The finding of the showed that very few SME owners, managers, entrepreneurs or key designated employees make use of risk management tools and techniques within their businesses, to achieve growth and sustainability. However, the majority agreed to the high importance of risk management in the success of a business enterprise. The findings of the study furthered revealed that leverage on financial structure, issue of collateral security, incapacity to go for technological advancement; tough competition and inadequate margin are among the risk associated with SMEs. The findings of the study furthered suggest that the risk management practice has a lot of effect on SMES performance. This study is significant since it is hoped the findings and recommendations of the study will assist the policy makers in the Ministry of Trade and Industry in making appropriate decisions.


Influence of Risk Management Practices on the Performance of Small Micro Enterprises in Eldoret Town, Kenya Related Books

Influence of Risk Management Practices on the Performance of Small Micro Enterprises in Eldoret Town, Kenya
Language: en
Pages: 19
Authors: Judith Jebichii Tuwei
Categories: Business & Economics
Type: BOOK - Published: 2018-09-03 - Publisher: GRIN Verlag

DOWNLOAD EBOOK

Research Paper (postgraduate) from the year 2018 in the subject Business economics - Miscellaneous, , language: English, abstract: Risk management focuses on ad
Financial Management for Hospitality Decision Makers
Language: en
Pages: 252
Authors: Chris Guilding
Categories: Business & Economics
Type: BOOK - Published: 2007-08-22 - Publisher: Routledge

DOWNLOAD EBOOK

Financial Management for Hospitality Decision Makers is written specifically for those 'decision makers' in the industry who need to be able to decipher account
SME Performance
Language: en
Pages: 167
Authors: John Watson
Categories: Business & Economics
Type: BOOK - Published: 2010-01-01 - Publisher: Edward Elgar Publishing

DOWNLOAD EBOOK

Watson addresses some of the most pervasive myths related to small business performance in an engaging manner, capturing the nuances of these important issues.
Finance Against Poverty: Volume 1
Language: en
Pages: 244
Authors: Hulme David
Categories: Business & Economics
Type: BOOK - Published: 2005-08-12 - Publisher: Routledge

DOWNLOAD EBOOK

In two volumes these books review and expand the theory that poverty in the world's poorest regions could be alleviated by providing small loans to micro-entrep
Doing Business 2019
Language: en
Pages: 1734
Authors: World Bank
Categories: Business & Economics
Type: BOOK - Published: 2018-11-30 - Publisher: World Bank Publications

DOWNLOAD EBOOK

Sixteenth in a series of annual reports comparing business regulation in 190 economies, Doing Business 2019 measures aspects of regulation affecting 10 areas of