EFFECT OF ENTREPRENEUR CHARACTERISTICS ON PERFORMANCE OF NONTIMBER FOREST PRODUCTS SMALL AND MEDIUM ENTERPRISES IN KENYA
Abstract
Limited literature is available on the relationship between entrepreneur
characteristics and performance of non-timber forest products small and medium enterprises
raising debate whether the link is tenable with such firms. Thus, a study covering 314 small and
medium enterprises in nine counties in Kenya was conducted to explore the relationship. The
coefficient of determination, F statistic, and the t-value and their significance levels were used in
presenting the relationship between entrepreneur characteristics and firm performance. The results
show that that firm performance is significantly affected by entrepreneur characteristics of age,
managerial skills, industry experience and social skills. Thus, it is concluded that entrepreneur
characteristics and performance of non-timber forest products small and medium enterprises are
empirically related. Firms run by relatively young, well-experienced and skilled entrepreneurs
register better performance. It is necessary, therefore, that the non-timber forest products small and
medium enterprises match their strategic decisions with characteristics of owners/managers to
enhance their competitiveness and performance. The implications of this study are that specific
policy measures are necessary to encourage the many well trained but unemployed young people to
engage in businesses. Additionally it also implies that specific training programmes are necessary
to equip the practitioners with necessary theoretical and practical capacities to enhance
performance of their firms.
characteristics and performance of non-timber forest products small and medium enterprises
raising debate whether the link is tenable with such firms. Thus, a study covering 314 small and
medium enterprises in nine counties in Kenya was conducted to explore the relationship. The
coefficient of determination, F statistic, and the t-value and their significance levels were used in
presenting the relationship between entrepreneur characteristics and firm performance. The results
show that that firm performance is significantly affected by entrepreneur characteristics of age,
managerial skills, industry experience and social skills. Thus, it is concluded that entrepreneur
characteristics and performance of non-timber forest products small and medium enterprises are
empirically related. Firms run by relatively young, well-experienced and skilled entrepreneurs
register better performance. It is necessary, therefore, that the non-timber forest products small and
medium enterprises match their strategic decisions with characteristics of owners/managers to
enhance their competitiveness and performance. The implications of this study are that specific
policy measures are necessary to encourage the many well trained but unemployed young people to
engage in businesses. Additionally it also implies that specific training programmes are necessary
to equip the practitioners with necessary theoretical and practical capacities to enhance
performance of their firms.
Refbacks
- There are currently no refbacks.