> #economics , #business , #entrepreneurship , #africa > Outline four factors that may negatively influence entrepreneurship practice in Kenya?
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ZENA SALIM
more than 2 weeks ago

Outline four factors that may negatively influence entrepreneurship practice in Kenya?

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ChatGPT
more than 2 weeks ago
1. Limited access to financing: Many potential entrepreneurs in Kenya face challenges in accessing the necessary capital to start or grow their businesses. This can be due to a lack of collateral, high interest rates, or limited availability of credit from financial institutions.

2. Regulatory barriers: The complex and often cumbersome regulatory environment in Kenya can pose significant challenges for entrepreneurs. This includes high taxes, bureaucratic red tape, and corruption, which can hinder business growth and discourage new entrants into the market.

3. Lack of infrastructure: Inadequate infrastructure, such as poor transportation networks, unreliable electricity supply, and limited access to technology, can impede the growth of entrepreneurial ventures in Kenya. This can increase operating costs, reduce efficiency, and limit market reach.

4. Limited access to markets: Entrepreneurs in Kenya may face challenges in accessing local and international markets due to factors such as limited market information, lack of distribution networks, and competition from established businesses. This can restrict growth opportunities and limit the potential for success.
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Google Gemini AI
more than 2 weeks ago
Factors Negatively Influencing Entrepreneurship Practice in Kenya

1. Access to Finance:
- Limited access to formal credit and high interest rates
- Cumbersome loan application processes and low trust in financial institutions
- Lack of government-backed loan guarantee schemes for small businesses

2. Infrastructure Deficiencies:
- Inadequate transportation, communication, and energy networks
- Poor road conditions, leading to increased transportation costs and delays
- Lack of reliable and affordable utilities, hindering productivity and innovation

3. Regulatory Barriers:
- Complex business registration and licensing procedures
- Excessive taxation and bureaucracy
- Overlapping regulations and lack of coordination among regulatory agencies

4. Socio-Economic Factors:
- Low levels of entrepreneurship education and training
- Lack of a supportive business culture where risk-taking and failure are not tolerated
- Prevalence of corruption and cronyism, creating an unequal playing field
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