| dc.description.abstract | Women-owned micro and small enterprises face significant challenges in achieving
optimal financial performance. Despite their vital role in the economy, these businesses
encounter various obstacles that hinder their growth and sustainability. This study sought
to assess the influence of rotating savings and credit association’s services on financial
performance of women owned micro and small enterprises in Nakuru, Kenya.
Specifically, the study sought to assess the savings contributions, credit facilities,
emergency insurance services and support services on financial performance of women
owned enterprises in Nakuru, Kenya. The study was anchored on financial inclusion
theory, Trade-off theory, Resilience theory and social capital theory. The study used a
descriptive research design. The population of the study comprised 682 Micro and small
enterprises that are owned by women entrepreneurs in Rongai Sub-County, Njoro SubCounty and Bahati Sub- County. This study used a systematic random sampling to select
those women who participate in Rotating Savings and Credit Associations. The sample
size of 252 business women was obtained using Yamane, formula. Data was collected
using structured questionnaires. A pilot study was conducted in Kericho County. Both
face and content validity were assessed. An internal consistency technique was adopted
to measure reliability of research instruments. All the variables had Cronbach overall
value of 0.863 which was greater than 0.7. Quantitative analysis was used to analyze
descriptive statistics. The findings revealed there exists a positive and significant
relationship between savings contributions on the financial performance of womenowned enterprises in Nakuru, Kenya (r = .606, p=0.000). The findings further revealed
that there is a strong, positive and statistically significant relationship between
emergency insurance services on financial performance of women owned enterprises in
Nakuru, Kenya (r=0.477, p=0.000). The findings also revealed that there is a strong,
positive and statistically significant relationship between emergency insurance services
on financial performance of women owned enterprises in Nakuru, Kenya (r=0.776,
p=0.000). Finally the findings revealed that there exist a strong, positive and significant
relationship between support services on financial performance of women owned
enterprises in Nakuru, Kenya (r=0.763, p=0.000). From the findings the study concluded
that saving contributions have a statistically significant influence on financial
performance of women enterprises in Nakuru, Kenya. In addition the study concluded
that credit facilities have statistically significant influence on financial performance of
women enterprises in Nakuru, Kenya. Furthermore, the study concluded that emergency
insurance services have statistically significant influence on financial performance of
women enterprises in Nakuru, Kenya. Finally, the study concluded that support services
have no statistically significant influence on the financial performance of women
enterprises in Nakuru, Kenya. From the findings, the study recommends that ROSCA
should encourage a culture of regular savings by promoting consistent contributions
among members. They should also provide opportunities for members to build their
creditworthiness within the ROSCA and explore partnerships with formal financial
institutions to facilitate access to additional credit options | en_US |
