Innovation Capital and Growth of Women-Owned MSEs in Central Kenya Counties
Abstract
This study examined the influence of innovation capital on growth of women-owned MSEs in Central Kenya counties. Schumpeter Theory of innovation anchored the study. The research design adopted was descriptive research design. The target population was 2472 women entrepreneurs registered and recipients of Uwezo Fund. A sample size of 333 respondents was selected. Data was collected through questionnaires. Descriptive and inferential statistics were used for data analysis. The findings established that women entrepreneurs were not innovative in terms of their products, marketing capabilities and the enterprise in general. This was due to the fact that majority of women entrepreneurs had not embraced new innovative methods in their enterprises that would spur growth. But they understood the importance of embracing innovation to enhance innovativeness and competition in their enterprises to spur the desired growth. Even after funding from Uwezo Fund, women entrepreneurs were still undecided on the importance of innovativeness in their enterprises. The study concluded there was a strong positive significant relationship between innovation capital and growth of women-owned MSEs. The study recommended that women entrepreneurs should embrace innovation to enhance innovativeness and competition in their enterprises to spur the desired growth. The study also recommended that women entrepreneurs need entrepreneurship training on the necessity of innovation as a key attribute of competitiveness and growth.
Keywords: Innovation Capital, Women-Owned Enterprises, Growth of Enterprises
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