INFLUENCE OF FINANCING ON GROWTH OF RESTAURANTS IN NYERI TOWN: A SURVEY OF SELECTED RESTAURANTS IN NYERI CENTRAL BUSINESS DISTRICT
Abstract
The purpose of this research was to determine the influence of financing on the growth of Restaurants in Nyeri town: A survey of selected restaurants in Nyeri central business district. Financing as a factor is a major concern to entrepreneurs and the government. The research adopted a descriptive survey design involving the owners and staff of restaurants based in Nyeri Town. The population for the study was 70 respondents from the selected 14 restaurants that offer meals, drinks and accommodation. The researcher adopted census technique to collect data from the target population of the study. The data was collected by use of a semi-structured questionnaire administered through personal interviews. Descriptive statistics was used to analyze the data collected. Bar charts, tables, and pie charts are used for data presentation. Some of the major findings in this research include the fact that majority of restaurants are sole proprietorships and this may limit their finance accessibility from banks. The research concludes that finance has an influence on the growth of restaurants. The researcher recommends that the high number of sole proprietorships should be incorporated. This would improve financial accessibility as limited companies are more credible and they can easily acquire business loans.
Key Words: Financing, Restaurants Growth, Nyeri Town
Full Text:
PDFReferences
Baumback, C.M. (1988). How to organize and operate a small business. (8th Edition) USA: Prentice Hall.
Daniel, W.W. & Terrell, J.C. (1975). Business Statistics: Basic Concepts and Methodology. Boston: Mifflin C.
Dun & Bradstreet, (1991). The Business Failure Record: THE Dun Bradstreet Corporation, U.S.A.
Emory, C. W. (1980). Business Research Methods: Revised Edition. USA, Kenya Economic Association Workshop Held at the KICC, Nairobi:, Kenya.
Government of Kenya. (1992). The Session Paper No. 2 of 1992 on Small Enterprise and Jua Kali Development in Kenya: Government Printers, Nairobi, Kenya
Gove for Economic Growth, Nairobi. Government of Kenya, (1989). Sixth Development Plan, 1989 – 1999
Scale Enterprises in Kenya. IPAR Discussion Paper. 26 (2000). Nairobi: Institute of Policy Analysis and Research.
Marris and Somerset. (1971). African Businessman”, East Africa publishing House, Nairobi, Kenya.
McCormick, D. (1988). “Small Manufacturing Enterprises in Nairobi; Golden Opportunity or Dead? PHD dissertation. Baltimore: The John Hopkins University.
McCormick, D. (1993). “Risk and Firm Growth: The Dilemma of Nairobi’s Small Scale Manufacturers”. Discussion paper (291). Nairobi University: Institute for Development Studies.
Nieman, G. Hough, J. & Niewenhuizen, C. (2003). Entrepreneurship : a South African perspective. Van Schaik.
Neck, P. (1987). “Small Enterprise Development Policies and Programmes”. ILO: Geneva.
Storey, D. J. (2000). Understanding the Small Business Sector. London: Thomson Learning. ISBN 1-86152-381-5.
Schmitz, H. & Musyck, B. (1993). “Industrial District in Europe: Policy Lessons for Development Countries”. IDS Discussion Paper (324).Sussex, Institute of Development Studies.
Seibel, H.D (1988). “Financial Innovations in Africa and Asia”. Paper Presented at a Committee of Donor Agencies for Small Enterprise Development World Conference on Support for Micro Enterprise, June, 1988.
Zimmerer.T.W & Scarborough.N.M.(2003 ). Effective small business management. (3rd Edition)USA: Columbus, Ohio.)
DOI: http://dx.doi.org/10.61426/sjbcm.v3i4.329
Refbacks
- There are currently no refbacks.
This work is licensed under a Creative Commons Attribution 3.0 License.
PAST ISSUES:
This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.