Project Description
TRIGGER THE RESTART: ENHANCING THE MSMEs RECOVER AFTER THE COVID-19 PANDEMIC
In Kenyan economy an important role is played by Micro and Small and Medium enterprises popularly known as MSMEs.
The MSMEs are engines of growth, vital to most economies. Research suggests that the MSMEs account for 95 percent of firms in most countries, create jobs, aid industrial development, satisfy local demand for services, innovate and support large firms with inputs and services. In Kenya, in 2014, 80 percent of jobs created were dominated by these enterprises. They are a source of innovation, competitiveness, goods and services, and entrepreneurial skills.
Starting and operating a small business includes a possibility of success as well as failure.Lack of planning, improper adequate finance, poor management skills, rapid technology changes have been posited as the main causes of failure of small enterprises. Lack of credit has also been identified as one of the most serious constraints facing MSMEs and hindering their development. Many studies observe that the health of the economy as a whole has a strong relationship with the health and nature of the micro and small enterprise sector. When the state of the macro economy is less favourable, by contrast, the opportunities for profitable employment expansion in MSMEs are limited. This is true especially for those MSMEs that have linkages to larger enterprises and the economy at large. Given this scenario, an understanding of the dynamics of MSMEs is necessary not only for the development of support programmes for MSMEs, but also for the growth of the economy as a whole.
Along with these problems there are glaring gender gaps that have become a major concern for policy makers.Taking all these assumptions into account, this project is meant to strengthen, through a continuous mentorship and coaching, the role of the private sector promoting innovative entrepreneurship and job creation in Kenya, in accordance with the Government’s strategy enunciated in the first pillar of the Presidential Big 4 Agenda. The action is addressed towards young women who will prove to run an innovative business but who are facing difficulties in accessing credit and lack strategic skills to scale up their operations. The purpose is to support them from both financial, managerial and strategic points of view in the delicate phase of boosting their activity. In the long run, this action will contribute to the creation of a more sustainable and solid Kenyan entrepreneurship class which will represent an essential element in the developmental path of the Country.


