Challenges of Entrepreneurship In Rural Kenya are numerous and some inimitable as compared to the SMEs in the urban areas. Most of the disadvantages that are in the rural areas become problems for the enterprises in the village. However, the rural Kenya business owners should combine their effort to fight off the problems facing them. Without collaboration as business owners it would be hard to prevent the Challenges of Entrepreneurship In Rural Kenya. Business Training in Kenya has more articles.
The Main Challenges Of Entrepreneurship In Rural Kenya
Challenges of Entrepreneurship In Rural Kenya constitute mostly the main problems that are found in the rural areas. The urban people have more advantages as compared to people living in the villages. Therefore, it becomes easier for a person to start a business in the town than in the upcountry. The main Challenges of Entrepreneurship In Rural Kenya are;
- Rural enterprises lack enough capital to expand the business. Financial challenge is a problem that faces nearly all SMEs, but it is more difficult for rural small businesses. The reason is because there are few or no financial institution established in the rural areas where the entrepreneurs can get financial assistance.
- Lack of ready market for their produce is one of the common Challenges of Entrepreneurship In Rural Kenya. In the village, the population is low and scattered making it hard for the entrepreneurs to make good sales.
- Poor infrastructure prevents the small business owners from taking their products to other places for sale. Besides that it becomes hard for SMEs well wishers and supporters to go to the village to offer support to the rural entrepreneurs
- Lack of information and competitive culture that will drive the rural entrepreneurs into working hard and expanding their businesses
- Absence of other small business owners to learn from and offer support or encouragement that will make an entrepreneur fight on to staying in business
Challenges Of Entrepreneurship In Rural Kenya: Supporting The Rural SMEs
A greater support should be given to rural enterprises to help them fight the Challenges of Entrepreneurship In Rural Kenya that face them. Firstly, it is important for the rural business people to come together and form associations or groups in order to help each other.
Financial providers such as banks should take their services to the rural areas. To make it more efficient, they should open branches in various locations. Entrepreneurship training should also be availed to the rural areas.
The government on the other side should give subsidies and support to the rural business owners to help them fight some of Challenges of Entrepreneurship In Rural Kenya such as transportation and marketing problems.
Challenges Of Entrepreneurship In Rural Kenya: The Support Of The Rural Banking
Many banks in Kenya have taken their banking service to the villages to help in preventing the many Challenges of Entrepreneurship In Rural Kenya. The banking sector has really contributed to the development of many rural areas. The establishment of banks in the villages has attracted other business thereby expanding the shopping centers.
Owners of small business in rural areas are now able to save their money in these financial institutions. It is also possible for them to get loans which they use to expand their business and compete with other businesses in urban areas.
Conclusion In Challenges Of Entrepreneurship In Rural Kenya
Challenges of Entrepreneurship In Rural Kenya are mainly caused by the situations in the rural area such as poor road network. Rural businesses require much support from the government and private sectors in order to expand and compete with town businesses. Otherwise, there is an increase in the rural banking nowadays that has helped many rural business people fight Challenges of Entrepreneurship In Rural Kenya.