Small and medium-sized enterprises (SMEs) face numerous challenges that can hinder their growth and sustainability. The Challenges Faced By SMEs range from both internal and external factors, affecting their operations, financial stability, and competitive edge. 1. Limited Access to Finance: One of the most significant challenges for SMEs is obtaining adequate financing. Banks and financial…
Small businesses in Kenya face a myriad of challenges that hinder their growth and sustainability. The 3 Main Challenges Facing Small Businesses include access to finance, regulatory burdens, and competition from both local and international markets. 1. Access to Finance One of the most pressing issues for small businesses in Kenya is the difficulty in…
The economy significantly impacts small businesses in Kenya through various factors such as inflation, access to finance, government policies, market competition, infrastructure, and political stability. High inflation rates and costs of living reduce consumer purchasing power, while limited access to credit hampers business growth. Complex regulations and intense competition further challenge small enterprises. Inadequate infrastructure…