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

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  • Kevin Wachira
  • Edna Musyoki

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.

Suggested Citation

  • Kevin Wachira & Edna Musyoki, 2015. "Factors Affecting Development of Business Plans by Small and Medium Enterprises in Kenya: A Survey of Commercial Rabbit Farmers in Thika District," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 5(5), pages 182-189, May.
    • Handle: RePEc:hur:ijarbs:v:5:y:2015:i:5:p:182-189
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    References listed on IDEAS

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    1. Erhard K. Valentin, 1994. "Anatomy Of A Fatal Business Strategy," Journal of Management Studies, Wiley Blackwell, vol. 31(3), pages 359-382, May.
    2. Charles R. Schwenk & Charles B. Shrader, 1993. "Effects of Formal Strategic Planning on Financial Performance in Small Firms: A Meta-Analysis," Entrepreneurship Theory and Practice, , vol. 17(3), pages 53-64, April.
    3. Kelly G. Shaver & Linda R. Scott, 1992. "Person, Process, Choice: The Psychology of New Venture Creation," Entrepreneurship Theory and Practice, , vol. 16(2), pages 23-46, January.
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