Factors Affecting Financial Performance Of Women Groups In Export Business; A Case Study Of Masaai Market Women Groups

Abstract

Women's economic activities empower them economically and enable them overall, to contribute more to the development of their country. Recognizing this value and its importance, many governments in the world are paying at least some attention in order to create an environment that is conducive for establishment of women-owned enterprises. The purpose of this study was to establish the factors affecting financial performance of women groups in export business at Masaai Market. The study was guided by the four specific objectives namely; to establish the effect of economic factors on financial performance of women groups in export business at Masaai Market, to establish the effect of socio-cultural factors on financial performance of women groups in export business at Masaai Market, to establish the effect of business management skills on financial performance of women groups in export business at Masaai Market and to establish the effect of government regulations on the financial performance of women groups in export business at Masaai Market. This study was based on three theories which are expectancy theory, network theory and social exchange theory. This research study employed a descriptive survey research design. The target population for this study comprised of all women groups in export businesses in Masaai Market. There are 55 women groups in export businesses which according to the Maasai Market Association. A census methodology was used since all the 55 women groups in export business at Masaai market were studied. In each group two women were selected.This study utilised primary sources of information which were gathered by use of questionnaires. Questionnaires were self administered where drop and pick later method was applied. Descriptive analysis was done using frequency distribution tables, Mean, Standard deviation. Inferential statistics that was utilized included regression analysis using Standard Package for Statistical Sciences (SPSS). Presentation of findings was in form of tables, bar graphs and pie charts. The study findings indicated that economic factors, sociocultural factors, business management skills and government regulations affected greatly the financial performance of women groups in export businesses. The study concludes that that there was improved performance in women groups in export businesses which could be associated with different factors such as government support, favourable economic, socio-cultural factors and acquisition of business management skills. This has been made possible by women forming groups such as chamas and self help groups which become more easier to venture into businesses as a group rather than an individual. The government should put up in place institutional capacity and structure that are easily accessible for business advice. Relevant institutions should create specialized departments to address women's needs. This would directly enhance the dissemination of information regarding the available services especially in rural areas. The institutions should also take proactive steps towards developing the business skills of women entrepreneurs. This should include the use of specialized programmes with an inbuilt mechanism to monitor the progress of such capacity building initiatives.