Individual factors motivating formation of viable women owned small and medium enterprises versus men owned small and medium entreprises: A case study of Kinondoni municipality
The main objective of the study was to identify Individual factors motivating formation of viable women and men owned small and medium enterprises with the aim of analyzing how those factors affects each group. This study investigated Motivations for business ownership, demographic characteristics of women, factors contributing to business success and the challenges that women face in starting up compared to men. Exploratory research approach was followed in this study using the case study design so that an avenue for in depth study can be attained. A survey method using questionnaires was applied, the sample constituted 100 respondents from Kinondoni Municipality. The study used Stratified random sampling method isolating the sample into 2 strata, which consisted of 50 women entrepreneurs and 50 male entrepreneurs. The SPSS software was used to analyze the coded interrogation results. This study has revealed that need for financial independence, level of proficience, skills and competence, need for self esteem and entrepreneurial personality motivates both women and men in the same way to form viable SMEs however need for job satisfaction and internal locus of control seemed to have highly motivated more men than women. Social responsiveness and business oriented family background were observed to have motivated the lowest number of both women and men interviewed. It is suggested that problems of start up capital, taxation, provision of business legal compliance guides, information on market availability and communication cost be curbed to enhance success of small and medium entrepreneurs for the healthier economy of our people and the nation at large.
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