Nexus between Entrepreneurial Market Drivers and Growth of Micro and Small Enterprises Owned by Physically Challenged Entrepreneurs in Kenya
DOI:
https://doi.org/10.24191/jibe.v11i1.10990Keywords:
Entrepreneurial Market Drivers, Business Growth, Micro and Small Enterprises, Physically Challenged EntrepreneursAbstract
While the Kenya Government has introduced a variety of initiatives and interventions to promote Micro and Small Enterprises generally, the business performance of MSEs owned by physically challenged entrepreneurs still lags behind those owned by other categories of entrepreneurs. The physically challenged entrepreneurs face a myriad of barriers including, limited access to formal markets, poor integration into value chains and inadequate exposure to competitive opportunities. Despite their significant contribution to local economically, little or no information is available on how market dynamics influence their survival, expansion and competitiveness. This information gap is responsible for lack of understanding on how this group of entrepreneurs respond to shifts in demand, adapt to competition and remain innovative in their restricted market environment. The purpose of this study is to identify how the market drivers influence the growth and expansion of MSEs of physically challenged entrepreneurs in Kenya. The study employed mixed- method approach. The study found that Entrepreneurial Market Drivers (EMDs) have a positive effect on the growth of MSEs owned by physically challenged entrepreneurs (B=1.761; P-value< 0.5). The analysis highlights a complex and dynamic market landscape where perceptions of saturation vary among respondents; many respondents express optimism about growth opportunities, while a significant portion recognizes high competition as a potential barrier. This duality of varying views suggest that businesses must develop and enact their strategies carefully embracing dynamic and innovative programs for expansion while considering target and niche market in saturated areas. Focus on customer satisfaction and effective relationship management is crucial for business success. There are mixed opinions in respect to purchasing preferences, industry best practices and the fairness of and level of competition of MSEs owned by the physically challenged entrepreneurs that may require further interrogation exploration and intervention. Proper understanding of entrepreneurial market drivers through market research and analysis is vital in helping entrepreneurs to navigate effectively through competition and saturation in various industries. Training in customer relationship management and customer satisfaction is critical for success.
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