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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:Finance, availability of capital and new firm formation in central Kenya
Author:Kinyanjui, Mary NjeriISNI
Periodical:Journal of Eastern African Research and Development (ISSN 0251-0405)
Notes:biblio. refs., ills.
Geographic terms:Kenya
East Africa
Subjects:small enterprises
business financing
Economics, Commerce
Small business
Abstract:The formation and development of new firms in developing countries is often hindered by lack of finance. The present article reports the findings of an empirical and policy focused investigation into the financing of small and medium-sized manufacturing enterprises in central Kenya, based on interviews with 190 firms. It was found that start-up capital is not easily available to many small and medium-sized manufacturing enterprises in central Kenya, and that its availability is important for subsequent competitive efficiency and growth. Availability in turn varies between enterprises according to their characteristics (legal identity, type of ownership, size, sector), location, and entrepreneurial attributes such as the founder's age, level of education and previous occupation. Bibliogr., sum.