Factors Affecting Development of Business Plans by Small and Medium Enterprises in Kenya: A Survey of Commercial Rabbit Farmers in Thika District

Kevin Wachira and Edna Musyoki

International Journal of Academic Research in Business and Social Sciences, 2015, vol. 5, issue 5, 182-189

Abstract: The contribution of small and medium enterprises to global economy in general and the Kenyan economy in particular has been recognized and well documented. Given their importance, it is important that these enterprises be planned for so that possible challenges are anticipated, possible solutions are put in place and their overall contribution of these enterprises to the economy is increased. There is documented evidence that business planning enhances performance of an enterprise. There is also documented evidence that most enterprises, especially those classified as small and medium do not engage in business planning. They therefore, as individual businesses fail to reap the benefits of planning while the economy as a whole also suffers high mortality rates of start-ups, which are crucial for employment creation. In view of the above, this study aimed at assessing the factors that affect development of business plans by small and medium enterprises using a survey of rabbit farmers in Thika District.

Keywords: Business plan; Small and Medium Enterprise; Business Planning (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:hur:ijarbs:v:5:y:2015:i:5:p:182-189

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