Small and Medium enterprises (SMEs) are an important subsector for any nation and a determinant of any nation’s success. Small businesses generally outnumber large organizations and create vast amounts of employment opportunities. At the helm of these businesses, the majority are women who defy odds to set up small businesses to contribute to their economies, in Kenya and the world over. This study focused on access to financial resources on implementation of women owned income generating projects. The research was directed by four study goals; to analyze the effect of cost of loan, collateral, financial literacy, and small business assistance on the implementation of women operated income generating enterprises in Ongata Rongai. The research was founded on two different hypotheses, namely the Pecking Order theory and the Financial Literacy hypothesis. Utilizing the Yamane formula, the researcher calculated that 134 people would be a sufficient sample size for our descriptive survey using a 5point Likert scale. A total of 152 female company owners made up the intended audience. Cronbach's α was used to examine the instruments' reliability after the split-half approach had been used to establish it. Pearson's technique of correlating variables was used to determine the degree of association. The results revealed that the strength of the relationship between access to financial resources and implementation of women run income generating projects were as follows; cost of credit (r=-.382), financial literacy (r=0.616), business support services (r=0.530) and collateral(r=0.507). The study found that business support services, collateral, and financial literacy all had a significant and favorable impact on the success of revenue-generating ventures led by women. Revenue-generating businesses managed by women had challenges in getting off the ground due to the high cost of financing. As a result, a suggestion has been made to policy makers and practitioners that they should make use of the results of the current research to improve the long-term viability of SMEs. The results of this research may also be used by the government to design policies and methods that will assist small and medium-sized businesses in realizing their full potential.

show more