The Influence of Internal Locus of Control and Entrepreneurial Skills Training on the Growth of Micro and Small Enterprises in Bomet County, Kenya
DOI:
https://doi.org/10.70619/vol3iss1pp1-14Keywords:
Internal locus of control, entrepreneurial skills training, enterprise growth, micro and small enterprisesAbstract
There is an ongoing argument that internal locus of control of business owners or managers can be related to the growth and survival of the business. The internal locus of control might be affecting the growth of enterprises as internal locus of control of an entrepreneur differs from the characteristics of a non-entrepreneur Some researchers have tried to define success in terms of turnover, sustainability, and growth. Some researchers have observed that entrepreneurial traits are indicators of success. The general research issue that has to be addressed in this study is the fact that, in addition to financing and markets, there are additional variables impacting the high mortality rate and stunted growth of micro and small firms in Kenya, particularly in Bomet County. So, this study will look at the connection between the development of micro and small businesses in Bomet County and internal locus of control. In this study, the moderating impact of training in entrepreneurial skills will be examined. The target population was micro and small enterprises in Bomet County which were 14,574 in number in 2016. The unit of observation was the managers and owners of these enterprises. The unit of analysis in the micro and small enterprises in Bomet County and their growth over the past five years. The study used a stratified sampling technique to pick the respondents from the manufacturing, trade, and services strata of micro and small enterprises. The sample size was 384 micro and small enterprises. Data was collected using a questionnaire. Data collection was done by administering the instrument to the owners or managers of the enterprises. The data was processed using computer software. The association between the internal locus of control of entrepreneurs and the expansion of businesses was established using a multiple regression model. The main conclusions were that the expansion of businesses in Kenya's Bomet County is influenced by internal locus of control. The study's main advice is that the key participants in the firms should train to develop the traits of owners and managers. This study also suggests that not everyone can succeed as an entrepreneur. Resources and a methodology should be available to find future entrepreneurs. The necessary resources cannot be accessed before identification.
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