CHALLENGES AFFECTING YOUTH ACCESS TO YOUTH ENTREPRISE FUND: A STUDY OF YOUTH EMPOWERMENT SUPPORT SERVICES-KENYA

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1 CHALLENGES AFFECTING YOUTH ACCESS TO YOUTH ENTREPRISE FUND: A STUDY OF YOUTH EMPOWERMENT SUPPORT SERVICES-KENYA BY FELIX WOHORO UNITED STATES INTERNATIONAL UNIVERSITY AFRICA SUMMER 2016

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3 CHALLENGES AFFECTING YOUTH ACCESS TO YOUTH ENTREPRISE FUND: A STUDY OF YOUTH EMPOWERMENT SUPPORT SERVICES-KENYA BY FELIX WOHORO A Research Project Report submitted to the Chandaria School of Business in Partial Fulfillment of the Requirement for the Degree of Masters of Business Administration (MBA) UNITED STATES INTERNATIONAL UNIVERSITY AFRICA SUMMER 2016

4 STUDENTS DECLARATION I the undersigned, hereby declare that this research project is my original work and has not been presented to any other University, college or institution for higher learning or otherwise other than the United States International University- Africa... Felix Ndungu Wohoro (629952) Date This project has been presented for examination with my approval as the appointed supervisor. Signed Date... Francis Mambo Gatumo Signed. Date... Dean, Chandaria School of Business ii

5 COPYRIGHT All rights to this project document are reserved Felix Ndungu Wohoro, 2016 iii

6 ABSTRACT The purpose of this study is to determine challenges affecting youth access to Youth Enterprise Fund. This study was guided by the following research questions: How do regulatory frameworks hinder youth access to the Youth Enterprise Fund? To what extent does lack of education hinder youth access to Youth Enterprise Fund? Finally, how do socio-cultural attitudes hinder youth entrepreneurs access to Youth Enterprise fund? The population of the study was composed of 50 youth entrepreneurs under Youth Empowerment Support Services (YESS) Kenya youth program. This study was a census; therefore, all 50 youth entrepreneurs took part in the study. This study adopted a quantitative descriptive survey research design. The study used a closed ended questionnaire to collect primary data. Descriptive statistics was used to analyze frequencies, and percentages; while inferential statistics were analyzed for correlations and regression. Data analysis was conducted using Statistical Package for Social Services (SPSS). The study findings were presented using tables and figures. The findings on how regulatory frameworks influences access to youth funds revealed the existence of a positive relationship between regulatory framework, and access to Youth Enterprise Development Fund (YEDF), r (0.738), p This means that the relationship was statistically significant. The findings on the extent to which lack of entrepreneurship training influences access to YEDF revealed the existence of a positive relationship between lack of entrepreneurship training and access to YEDF, r (0.775), p This means that the relationship was statistically significant. The findings on how socio-cultural factors influence access to YEDF revealed a strong positive relationship between socio-cultural factors and access to YEDF, r (0.742); p This means that the relationship was meaning the relationship was statistically significant. The study concluded that the relationship between regulatory framework and access to YEDF was statistically significant; the relationship between entrepreneurship education and access to YEDF was statistically significant; and the role of religion, cultural values, and role of family and friends/peers significantly influenced access to YEDF. iv

7 The study recommends that management at YESS Kenya and YEDF secretariat should develop mechanisms that to enhance youth access to YEDF by scrapping off business registration costs, and business licensing costs. Registration of youth business should be given priority in Huduma Centres, by developing dedicated counters that deal exclusively with youth business registrations and licensing. To enhance youth access to YEDF, concerted efforts made by YESS Kenya management to ensure that youth entrepreneurs under their program are adequately trained on business financial management, planning, and information technology platforms as a way of enhancing channels of accessing YEDF, and finally, it is important that managers at YESS Kenya develop programs that enhance youth attitude and behavior towards entrepreneurship. The study also recommends that future studies should consider look at other factors not considered in this study, since access to Youth Enterprise Fund is not only limited to regulatory framework, entrepreneurship education and socio-cultural factors. v

8 ACKNOWLEDGEMENT I would like to highly acknowledge my supervisor Francis. M. Gatumo for his wonderful guidance in writing conducting this study. Equally, I would also like to acknowledge my friends and family for their support and encouraging me along the way. vi

9 DEDICATION This research project is dedicated to my dear mother Susan Gathoni, who has been my greatest source of inspiration, my late father Nathan Wohoro for his indelible mark in my life, my family and friends. I also dedicate this study to young entrepreneurs across the globe who ve continually demonstrated that it is possible to be young and great! Thank you. vii

10 TABLE OF CONTENTS STUDENTS DECLARATION... ii COPYRIGHT... iii ABSTRACT... iv ACKNOWLEDGEMENT... vi DEDICATION... vii TABLE OF CONTENTS... viii LIST OF TABLES... x LIST OF FIGURES... xi CHAPTER ONE INTRODUCTION Background of the Problem Statement of the Problem Purpose of the Study Research Questions Significance of the Study Scope of the Study Terminologies Chapter Summary... 8 CHAPTER TWO LITERATURE REVIEW Introduction How Regulatory Frameworks Hinders Access to Youth Enterprise Fund Entrepreneurship Education Influence on Access to Youth Fund How Socio-Cultural Factors Influence Access to Youth Fund Chapter Summary CHAPTER THREE RESEARCH METHODOLOGY Introduction Research Design Population and Sampling Design viii

11 3.4 Data Collection Methods Research Procedure Data Analysis Chapter Summary CHAPTER FOUR RESULTS AND FINDINGS Introduction Demographic Data How Regulatory Frameworks Hinder Access to Youth Enterprise Fund Entrepreneurship Education Influence on Access to Youth Fund How Socio-Cultural Factors Influence Access to Youth Fund Access to Youth Entrepreneurship Funds Correlation Analysis Regression Analysis Chapter Summary CHAPTER FIVE DISCUSSION, CONCLUSION, AND RECOMMENDATIONS Introduction Summary Discussion Conclusion Recommendations REFERENCES APPENDICES APPENDIX I: COVER LETTER APPENDIX II: RESEARCH QUESTIONNAIRE APPENDIX III: RESEARCH BUDGET APPENDIX IV: IMPLEMENTATION SCHEDULE ix

12 LIST OF TABLES Table 4.1: Reliability Analysis Table 4.2: You Understand the Procedures for Registering for Youth Funds Table 4.3: Youth Funds Have a Complex Registration Procedures Table 4.4: The Procedures are a Hindrance to Accessing Youth Funds Table 4.5: The Registration Procedures Need to be Changed Table 4.6: You Understand The Age Requirements for Youth Funds Table 4.7: Documentation of Age is a Hindrance in Accessing Youth Funds Table 4.8: You Understand Youth Entrepreneurship Licensing Process Table 4.9: The Cost of Youth Entrepreneurship Licensing is High Table 4.10: Licensing Costs Hinders Access to Youth Entrepreneurship Fund Table 4.11: As a Youth You Have Access to Financial Training Table 4.12 Financial Training Includes Cost Structure of a Business Table 4.13: Financial Training Includes Revenue Structure of a Business Table 4.14: Financial Training is Essential for Youth Entrepreneurship Funds Table 4.15: You Have Access to IT Training for Youth Entrepreneurship Table 4.16: I.T. Training Includes Online Marketing Table 4.17: I.T. Training Enhances Access to Youth Entrepreneurship Funds Table 4.18: You Are a Religious Person Table 4.19: Religion Influences How You Engage in Entrepreneurship Table 4.20: You Understand Your Cultural Values Table 4.21: Your cultural Values Influences Your Entrepreneurship Ventures Table 4.22: Your Cultural Capital is Important to Success of Entrepreneurship Table 4.23: Family Support is Essential to Youth Entrepreneurship Success Table 4.24: You Get Youth Funds Based on Family Connections Table 4.25: Your Peers Influence Your Attitude Towards Youth Entrepreneurship Table 26: Your Peers use Their Influence to Help You Access Youth Funds Table 4.27: Access to Youth Entrepreneurship Funds Table 4.28: Correlation Analysis Table 4.29: Multiple Regression factors Table 4.30: Multiple Regression Coefficients x

13 LIST OF FIGURES Figure 4.1: Respondents Gender Figure 4.2: Respondents Age Figure 4.3: Level of Education Figure 4.4: Respondents Number of Years as Entrepreneurs Figure 4.5: Number of Years Under YESS Kenya Program xi

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15 CHAPTER ONE 1.0 INTRODUCTION 1.1 Background of the Problem Youth unemployment is one of the greatest challenges facing both the developed and developing countries of the world. In the last few decades, the promotion of youth entrepreneurship as a viable and possible source of job creation has gained traction worldwide. The need for youth economic empowerment around the globe has attracted increasing interest from policy makers, governments, and even scholastic players as a way of dealing with youth unemployment (Philip, 2010). However, despite the increasing attention towards youth economic empowerment, it has mostly been done from a working-class adults perspective, and not from the youth perspective. In most cases, the tendency to ignore the youth in policy planning and enterprise development has led to numerous challenges in developing youth economic empowerment products and services that can gain traction, and equally be replicated (Rajendar, 2012). As a result, the lack of coherent planning, coordination has led to cases where programs designed for the youth, including youth entrepreneurship programs continue to fail, while even the youth that venture into youth entrepreneurship continue to experience vast array of challenges. According to Oketch (2010), Youth are defined by the United Nations as young people between the ages of years of age. However, for this paper, youth are defined as any person between the ages of House, Ikiara, and McCormick (2011) define entrepreneurship as the process through which people become aware of business opportunities and ownership as viable options to develop business ideas that are eventually utilized for the development of a business. Rajendar, (2012) on the other hand define youth entrepreneurship as the process through which people with business ideas take risks of developing, testing, and deploying the ideas as viable businesses. Youth entrepreneurship is defined as the practical application of enterprising ideas, Innovations, qualities, creativity, and risk taking that young people deploy to bring about viable businesses with the aim of earning revenue and profit (Henry, 2010). For youth to engage in entrepreneurship, they have to engage risk to the extent profitable. Youth 1

16 entrepreneurship therefore enhances and promotes innovation and resilience since it encourages the youth to find new solutions for existing economic, problems, or existing business opportunities (OECD, 2012). Ramsden (2010) posits that it is increasingly accepted that youth entrepreneurs have the capabilities to develop and present alternative solutions to the organization of work, technology, and employment. Rajendar (2012) argue that youth entrepreneurship is one of the most viable alternatives for not only creating jobs, but also enhancing economic participation of young people in development. Policy makers for governments worldwide should ideally provide youth with mechanisms and frameworks that can enhance youth entrepreneurship. However, Philip (2010) cautions that policy makers should be careful not to fall into the trap of thinking that every youth is a viable candidate as an entrepreneur, and also, should not use youth entrepreneurship as a mechanism to cure social and societal ills. Poor planning by governments and lack of resources are considered as major causes of youth unemployment. To this end, Ramsden (2010) argue that governments and policy makers should create a conducive environment for young entrepreneurs to thrive, and not use youth entrepreneurship as a means to an end for economic development. According to Richard, Kaboski and Buera, (2013) youth entrepreneurship promotes innovation that encourages the youth to find new solutions for the market through experience based learning. In the developed countries, youth entrepreneurship has thrived for decades due to conducive business environment, adequate government regulation on youth entrepreneurship, enabling mechanisms such as availability of funding both from the government and from the private sector, and good youth entrepreneurs training programs (Ramsden, 2010). Countries like USA, UK, France and Germany established entrepreneurship in the mid 1700 s, allowing growth, innovation, and creativity to shape the sector. In the early 20 th century, countries like the United Kingdom had a robust youth entrepreneurship, and funding programs (Rajendar, 2012). According to Barclays Bank survey (2009), young entrepreneurs aged between years in the UK had found a flourishing youth entrepreneurship culture. The survey indicated that 65% of the youth entrepreneurs developed and implemented their entrepreneurial ideas at home. The study also revealed that most (71.0 percent) of the youth survey had an annual turnover of under 100,000 (US$158,000). However, the study also indicated that 80% of the youth 2

17 entrepreneurs had access to youth enterprise fund to set up their businesses. According to Marris and Somerset (2009), thousands of youth in the USA have had access to youth enterprise funding form government agencies and the private sector, making the USA the most successful in youth entrepreneurship. The study by Marris and Somerset (2009) found a strong correlation between youth access to enterprise fund, and the success of entrepreneurship venture. In the developing countries, youth entrepreneurship has suffered a myriad of challenges that has not only crippled the growth of the sector, but also diminished youth morale for engaging in self enterprise (Philip, 2010). In Africa, Latin America, and Asian countries, youth not only find it difficult to conduct business, but also to access funding both from the government and the private sector. According to OECD (2012), youth in Africa, don t have the capacity to access funding from the private sector due to legal regulations set by financial institutions. For instance, in Zimbabwe, Nigeria, and South Africa, youth must have collateral to access loans. Equally, they have to present audited books of accounts as a testament that they can handle money (International Labour Organization (ILO), 2015). According to Phillip (2010), approximately 660 million youth are expected to enter into the job market in 2016, with 42% being from Africa. Further, Schleberger (2013) and Zawadi and Mhangami (2011) argue that youth all over the world continue to experience disproportionate unemployment in the 21 st century compared to the adult population. Schleberger (2013) further portends that disenfranchisement and youth unemployment rate will continue to hurt Africa s development prospects until such a time when youth are placed as priority in planning and development agendas. Recent surveys carried out in Zambia by House, Ikiara, and McCormick (2011) revealed 25% of the youth are entrepreneurs. Most of these youth are concentrated in marginal trading activities that don t require a lot of funding from government or private agencies. However, youth who ventured into creative and innovative business lines expressed numerous challenges including access to youth entries for example in Zambia. According to Rajendar (2012), one of the main frustrating points for these youth entrepreneurs was the bureaucracy around Youth Enterprise Funds. As is the case in most other African states, youth funds are encumbered with corruption, nepotism, tribalism, inefficiencies in determining who needs the funds, and in other cases, mismanagement of the funds by government officials tasked with administration of the funds to the youth. 3

18 In East Africa, youth entrepreneurship is still in its infancy stage (Rajendar, 2012). Most of the youth across East African countries are mainly involved in informal, small scale businesses that hardly meet the definition of entrepreneurship (Ikiara & McCormick (2011). This is due to the fact that most youth in East African states venture into entrepreneurship not as a business as a form of livelihood to escape from poverty. As such they do not learn how to effectively run business ventures, or how to develop products that are market ready. This notwithstanding, the Global Entrepreneurship Monitor (GEM) (2014), ranked Uganda as the best entrepreneurial economy after in East Africa with a rate of 35.5 % up from a Total early-stage Entrepreneurial Activity (TEA) rate of 31.3% per cent in This means that one in every three Ugandan is involved in entrepreneurship, however, the extent to which youth entrepreneurial is embraced and the extent to which have access to youth funding is not established (GEM, 2014). In Kenya, youth unemployment is one of the challenges the government has been grappling with for many years. According Kenya National Bureau of Statistics (KNBS) (2010) report, Kenyan youth aged 18 to 34, constitute 43% of the working population, but worse still, youth constitute 70% of total unemployment. To manage this breeding problem, the government of Kenya established The Youth Enterprise Development Fund (YEDF) in June 2006, to enable youth access funding for entrepreneurship. The main reason for the fund was to increase economic empowerment and opportunities for Kenyan youth and thus reduce unemployment rates. Rajendar (2012) define access to youth entrepreneurship financing as the mechanisms that are available to the youth within financial intuitions, public sector, private sector, and non-governmental organizations that enable them get monetary resources to implement their business start-ups. Access to finance is done in form business start-up loans, and grants. According to House, Ikiara, McCormick (2011), YEDF target was geared towards all forms of youth owned enterprises regardless of whether they were sole proprietors, companies, youth partnerships, cooperatives and/or any other forms of business ownership. The government of Kenya set aside one billion (Ksh. 1 billion) in the 2006/07 budget as a rollout package and funding for YEDF (GOK, 2008) According to the YEDF report 2011, The Youth Empowerment Support Services, (YESS) Kenya, has trained 10,000 youth entrepreneurs on how to access these funds. However, the fund has not had a significant impact on the youth empowerment as most of the funds 4

19 dispersed were either misappropriated, or issued to colluding corrupt groups by government officials. To this end the government partnered with Non-Governmental Organizations (NGOs), Micro Finance Institutions (MFIs) and Savings and Credit Cooperatives (SACCOs), to enhance youth training on entrepreneurship, and sustainability of youth projects post funding period. Youth Empowerment Support Services Kenya (YESS Kenya) is an NGO registered in Kenya in 2005 under the NGOs Coordination Act. YESS Kenya was born out of necessity of youth marginalization, and unemployment. In 2010, YESS Kenya partnered with the government to offer youth in Embakasi training on Youth Enterprise Development and Employment creation, so as to enhance the youth s access to YEDF. However, with more than five years into the program, YESS Kenya (2015) had reported a frustration with youth dropping out of entrepreneurship due to failures to receive enterprise funds, or receiving far less funds to sustain their entrepreneurial projects. 1.2 Statement of the Problem As aforementioned in the background of this study, in Kenya, youth unemployment is one of the challenges the government has grappled with for many years. The small enterprises in Kenya play a significant role not only in enhancing Kenya s economic development, but also in reducing youth unemployment. According to the Economic Survey (2010), the small and medium enterprise (SMEs) in Kenya contributed over 50 percent of new jobs into the economy. Despite the great significance of entrepreneurship in Kenya, the KNBS (2010) now shows that five youth entrepreneurs fail within the first few months of start-up. The challenges that leads to such failure are attributed to various reasons including lack of training, lack of finances, lack of technical support among others (Bwisa, 2010). The problem with Youth Enterprise Development Fund is that only 28% of youth eligible for the fund, actually get the funds. According to YESS Kenya (2016) every constituency in Kenya was allocated a revolving fund of Kshs. 4.5 million, however, only a handful of youth in the constituencies are able to access these funds. Even with the option of youth accessing such funds through NGOs, SACCOs, and MFIs the efforts have not yielded the much desired uptake. As a result, most of the funds received by YEDF from government to finance youth entrepreneurial startups end up being returned to the government. We can therefore deduce that access to YEDF is still a major impediment for the youth (Henry, 5

20 2010). Of the various studies that have been done by Kanyari and Namusonge (2013), Wanjohi and Mugure (2008), Ramsden, (2010), and Oketch (2010) on youth entrepreneurship in Kenya, none of these studies were directed towards establishing challenges facing youth access to Youth Empowerment Development Fund. This study therefore seeks to provide findings for this gap by exploring how regulatory frameworks hinders youth access to the Youth Enterprise Fund; the extent to which lack of education hinders youth access to Youth Enterprise Fund, and finally how much socio-cultural attitudes hinder youth access to the enterprise fund. 1.3 Purpose of the Study The purpose of this study was to determine the challenges affecting youth access to Youth Enterprise Fund. 1.4 Research Questions How do regulatory frameworks hinder youth access to Youth Enterprise Fund? To what extent does lack of education hinder youth access to Youth Enterprise Fund? How do socio-cultural factors influence access to Youth Enterprise Fund? 1.5 Significance of the Study Policy Makers This study is significant to policy makers in government through the Ministry of Devolution and Planning that is charged with developing development concepts and mainstreaming policies for youth, gender, and other Special interest groups. The ministry of devolution can adopt findings of this study and utilize them to develop frameworks that would enhance reduction of youth unemployment in Kenya, and at the same time enhance youth access to youth entrepreneurship fund Financial Intermediaries The study is important to financial intermediaries like MFI s, SACCOs and now banks to tailor youth entrepreneurship funding in a way that adds value to youth entrepreneurs. The findings of this study can equally be used to shape internal policies for financial 6

21 intermediaries so as to enhance access by the youth to youth enterprise funding and thereby facilitate in reduction of unemployment YESS Kenya Since this study is conducted with reference to YESS Kenya youth experiences in access to youth entrepreneurship fund, this study is therefore especially significant to YESS Kenya strategic planning purposes; internal structures, policies and procedures on how to enhance mechanisms through which youth under their program can not only access entrepreneurship fund, but also in developing mechanisms that are sustainable to operations of youth entrepreneurial units Academicians and Researchers This study is significant to researchers and individuals in the academia, who can utilize the findings of this research to confirm, fail to accept hypothesis on youth entrepreneurs access to funding. The findings can also be used as a guide for background studies and literature reviews while conducting further research on the same as well as a point of reference by scholars, students and academicians. 1.6 Scope of the Study This study was limited to 50 youth entrepreneurs under YESS Kenya operating in Embakasi constituency. The study was carried out for two weeks in the month of June, In addition, the study was limited only to youth entrepreneurs that had been in YESS Kenya program for more than 1 year. The study did not cover youth entrepreneurs not under YESS Kenya program. 1.7 Terminologies Youth Entrepreneurship Youth entrepreneurship is defined as the practical application of enterprising ideas, Innovations, qualities, creativity, and risk taking that that young people deploy to bring about viable businesses with the aim of earning revenue and profit (House, Ikiara, & McCormic, 2011). 7

22 Regulatory Frameworks Richard, Kaboski and Buera, (2013) define regulatory framework as a series of steps undertaken by a regulator to develop a series of responsive actions necessary to monitor, evaluate, and confer any accountability mechanism to the those being regulated. Regulation frameworks can include rules, laws, legislations, and other forms of standards agreed upon by a professional body, government agency, or firms operating within a certain sphere or environment Education Nichter (2009), define education as the wealth of knowledge acquired a person after studying a particular subject through formal schooling, or informal schooling including on work learning and apprenticeship so as to gain understanding of a given matter or experience that provides an understanding of a given matter or subject. OECD (2012) on the other hand define education as the transmission of knowledge through formalized and semi formalized structures that enables for teaching, training testing and evaluation of the knowledge Socio-cultural Factors Richard, Kaboski and Buera, (2013) define socio-cultural factors as the large scale forces embedded within given cultures and societies that influence thoughts, feelings, attitudes, and patterns of behavior Access to Youth Enterprise Fund Nichter (2009) defines access to finance as the ability of individual youths or their enterprises to obtain financial services, which include credit, deposit, insurance, payment, and other associated risk management services. In the context of this study, access revolves around five key components that are findability, usability, comprehensibility, reachability, and availability in pursuit of obtaining funding and/or associated elements. 1.8 Chapter Summary The background information of the study has been presented in this chapter, which articulates concepts of youth entrepreneurship and its funding. The statement of the problem has also been presented making the case as to why this study should be undertaken. 8

23 This chapter also presented the purpose, scope and significance of the study. Finally, this chapter has presented terminologies that are used in the study. The next chapter presents a literature review based on the research questions. 9

24 CHAPTER TWO 2.0 LITERATURE REVIEW 2.1 Introduction This chapter provides theoretical and empirical literature on the study based on the research questions. The first research question on how regulatory frameworks hinder youth access to Youth Enterprise Fund; second research question on the extent to which lack of education hinders youth access to Youth Enterprise Fund; and finally research question three on how socio-cultural attitudes hinder youth access to Youth Enterprise Fund. Chapter summary will be provided at the end of this literature review. 2.2 Regulatory Frameworks and Access to Youth Enterprise Fund Business procedures, age requirements for doing business as a youth, and licencing costs form the scope for regulatory framework under this study. According to Santarelli and Vivarelli (2011) regulatory environment within different countries do hinder or enhance youth entrepreneurship. In this regard, access to youth entrepreneurship funds set by different countries have various regulations on who can access the funds, and what procedures should be used to access such funds. Complex business registration procedures, high costs associated with start ups, minimum age requirements and licensing obstacles are some of the challenges facing youth access to financial services (Parker, 2012). House, Ikiara, and McCormic (2011) highlights the need to recognize that youth entrepreneurs do face considerable challenges within the regulatory environment. Regulatory environment most often has bottlenecks that impede youth entrepreneurs from starting and growing their enterprises. According to Ramsden (2010), complex regulatory processes and procedures and high registration costs for entrepreneurs are some of the impediments within the regulatory framework. It is incumbent upon nations to put in place measures that enhance youth enterprise, rather than huddles that impede not only business startup, but also access to youth entrepreneurship funds. A study conducted by Rajendar, (2012) in Ghana on the extent to which regulatory framework influences youth access to youth enterprise development fund indicated the existence of a strong relationship between regulatory mechanisms, and access to youth enterprise funds, r (0.842); p The study also found that youth business registration procedures and licensing costs were all significant. 10

25 On one hand, governments can put in place measures that tend to eliminate challenges facing youth in entrepreneurship that include simplifying regulation, minimizing stigma around entrepreneurship failures, and also facilitating restarts for the youth who encounter challenges in start-ups (Rajendar, 2012). On the other hand, Philip (2010) argue that governments have to continuously re-orient youth entrepreneurs on how to access business financing. Equally, government should develop mechanisms that can be used to enhance regulations of youth access to financial services not only from the government, but also from banks and other financial institutions. Regulatory frameworks should include capacity building for the youth on entrepreneurship financing, and critical elements in youth entrepreneurship funds (UNCTAD, 2012) Complex Business Registration Procedures (Bureaucracy) Complex regulatory frameworks in access to youth funds is one of the major challenges facing youth entrepreneurs (Storm, Porter & Macaulay, 2010). According Pathak, Holmes, & Zimmerman (2011) establishing a conducive regulatory environment for youth entrepreneurship is the first step in enhancing youth access to business funds. It is important particularly in developing countries to ensure that frameworks for financial access are not rigid or deterrent to youth entrepreneurs. One of the major challenges for youth entrepreneurs in access to enterprise funds is that their ventures have to be formally registered (Richard, Kaboski & Buera, 2013). The process involved in entrepreneurship registration for the youth can sometime be burdensome particularly to youth entrepreneurs. Stringent registration requirements can be discouraging to the youth in starting their businesses. House, Ikiara, and McCormic (2011) contend that governments need to decode youth enterprise registration by organizing formalized trainings targeting the youth. Further, they insist that entrepreneurship registration procedures, for the youth is just as same as those for adults who have sufficient resources and understand how to navigate the layered registration processes. For instance, the number of days it takes to register a business can hinder youth engagement, while at the same time the cost associated with the youth entrepreneurship registration such as the administrative and legal fees are inhibitive to the youth. As a result, Ramsden (2010) notes that some of the youth who are interested in getting access to entrepreneurship fund, are blocked by regulations way before they have a chance to register and formally apply. 11

26 According to the World Bank (2014) report on Doing Business, Singapore and Canada have few procedures required for the youth to formally register their enterprises. The short time frames in these countries have enabled youth to formally register their business in a faster and cost efficient manner. Conversely, Wanjohi & Mugure (2008) and Oketch (2010) argue that numerous procedures accompanied with lengthy time frames for formal business registration in Kenya, cumbered with high registration costs for the youth has contributed to an unfavourable regulatory environment for the youth. According to Ikiara, McCormick (2011) to access YEDF, first and foremost, youth need to register a company either as a sole proprietor, partnership, or limited company with registrar of companies. After registration, the youth are to log into Access to Government Procumbent Opportunities (AGPO) website, and YEDF website and register their business, and submit copies of the registration certificate online. Thereafter, they youth are required download the YEDF loan/grant application, fill it, attach supporting documentation (Birth certificates, registration certificate, guarantor s forms, Banks account forms, statement of cash flow form the start-up, or audited books of accounts) Minimal Age Requirements According to World Bank (2014), minimal age requirements are one of the major challenges in delivering financial services for youth. UNCTAD (2012) takes note of Global Youth-inclusive Financial Services according to a Survey conducted in Africa showing that 75% of the youth respondents indicated minimal age requirement as key impeding factor to accessing youth entrepreneurship funds. The report indicated that in Africa, to qualify for entrepreneurship fund, a youth has to be at least 18 years old. Youth Business International (2010) concurs with UNCTAD by arguing that youth access to fund before 18 years in quite a challenge since funds must be transferred to an operational bank account. Government policies for youth in most developing countries do not allow youth to open bank accounts until they are 18 years old. Alternatively, the accounts can be opened by their parents or guardians. Rajendar (2012) posit that in many cases youth entrepreneurs don t normally wish to inform their guardians about their finances; therefore, less likely to open a joint account. Equally, Matsumoto, Hengge and Islam (2012) posit that minimal age restrictions are usually exacerbated by identification requirements to ascertain their age. In most cases, 75% of youth in the world s least developed countries don t have birth certificates or related 12

27 registration documents as proof of date of birth. As a result, most of these youth are locked out of the entrepreneurship funds. Thus, policy and legal frameworks on youth identification documents such as birth certificates, or even proof of residence and income are common barriers for youth access to entrepreneurship funding (Poonam, and Smita, 2014) Entrepreneurship Licensing Costs Youth enterprises have to be registered and formally licenced to be legitimized to thus apply for any youth entrepreneurship funds (Figura, 2012). To enhance youth access to entrepreneurship funds, some countries have eliminated regulatory hurdles for licensing youth start-ups, while other countries have not (World Bank, 2014). Poonam, and Smita, (2014) argue that the elimination of minimum start-up, registration and licensing capital and pertinent costs are directly related to increase in youth entrepreneurship, and therefore access to funding. Further, they argue that countries that have established one-stop shops for licensing of entrepreneurship ventures have seen an increase in youth entrepreneurs. This is pegged on the fact that one shop eliminates bureaucracy and its related costs to business licencing. UNCTAD (2012) also notes that countries where electronic registration for enterprise has been effected, there have been fewer procedures, often takes less time, and such countries are less costly in licencing requirements compared to countries that don t have electronic registration and licensing requirements. World Bank, (2014) cites Singapore as a case where youth entrepreneurs access to funds increased by 46% after implementing an internet-based registration system. The online system made it easier and less expensive for the youth to register their start-ups, and to seek funding from government and other private financial institutions. Figura (2012) posit that countries that use manual registration and licencing usually take days to finalize the process compared to 30 minutes when using web-based system. According to World Bank, (2014) Singapore managed to reduce registration fees to register a business from $100 to $50, which was a major boost to youth entrepreneurs. Other countries that have followed the Singapore model includes Bangladesh, Kenya, Botswana, Rwanda, Cyprus, Malta, Pakistan, Dominica, Brunei, India, Sri Lanka, and Samoa. 13

28 An instance where age restrictions have been relaxed is Italy. The country had introduced a simplified licensing and registration procedure for youth-led entrepreneurships further allowing youth entrepreneurs under the age of 35 years to register a limited company with negligible share capital (UNCTAD, 2014). One year following the implementation of this regulation, 12,000 youth-led businesses start-ups had been registered with 10,000 of these start-ups securing youth funds for the business, which lead to additional creation of new jobs in excess of 17,000. This was confirmed by a study done by Richard, Kaboski and Buera, (2013), which indicated that there exists a direct relationship between youth access to entrepreneurship funding and cost of registration and licencing youth businesses markedly. In Kenya, the introduction of Huduma Centres has helped in the reduction of costs associated with business registrations (Kanyari and Namusonge, 2013). These centres are effective in that youth no longer have to travel to Nairobi to have their businesses registered from the registrar of companies, rather, they can access these services at Huduma centres within their counties. Similarly, Figura, (2012) argue that the implementation of a one stop shop by Huduma Centres has led to reduced registration and licensing costs by youth entrepreneurs. In as much as this is the case, Kanyari and Namusonge, (2013) cautions that the one stop shops have not enhanced youth access to funding, rather, has just made it easier for youth entrepreneurs to register and licence their business ventures which would then in turn enhance youth access to funding. The significance of regulatory frameworks for youth access to YEDF cannot be overstated. The processes involved in registering business entities or entrepreneurship ventures is important in attracting youth to the fund, or leaving them ambivalent (Richard, Kaboski & Buera, 2013; Ikiara & McCormic, 2011). Therefore, it is important that government agencies in charge of business registration and regulation provide significant training and assistance to the youth, to make it easier for them to engage the funds. Equally, as highlighted by Figura (2012); Richard, Kaboski and Buera, (2013) and Kanyari and Namusonge, (2013) the cost of doing business can either hinder or enhance youth access to YEDF. It is important that cost of doing business for the youth be subsidized as a way of encouraging more youth ventures into entrepreneurship, and by extension, access to YEDF 14

29 2.3 Entrepreneurship Education Influences on Access to Youth Fund Youth financial education, and knowledge of information technology for entrepreneurship costs form the scope that define youth lack of entrepreneurship education under this study. Effective and consistent youth entrepreneurship education is essential to ensuring that youth acquire the competencies and skills required to overcome challenges of entrepreneurship, foster successful entrepreneurial skill, and also lay efficient groundwork for youth entrepreneurship (World Bank, 2014). Concerted efforts are being made to integrate entrepreneurship education within and across regions. UNCTAD (2012) argue that building the capacity of youth entrepreneurs is essential in ensuring that there are minimal start-up failures that are costly to the youth entrepreneurs, and also costly in terms of financing other start-ups. Therefore, it is essential that youth venturing into entrepreneurship receive adequate training to ensure entrepreneurship skills are enhanced in accordance with regulatory and environmental frameworks. Owing to lack of youth entrepreneurship education in curriculums of many education systems, youths do not learn about effective enterprise or acquire skills in entrepreneurship (UNCTAD, 2014). In cases where entrepreneurship education is available, it is often offered as part of other subjects, and not a stand-alone subject. Moreover, there exists a mismatch in skill-set requirements for the youth based on the changing business market. Therefore, strengthening the capacity of the youth to gain entrepreneurial competencies is essential in creating an enabling environment that can assist the youth build successful entrepreneurial ventures (World Bank, 2014). A study conducted by Bodas and von Tunzelmann (2014) revealed the existence of positive relationship between entrepreneurship education and access youth funds in United Kingdom, r (0.662); p 0.05, making the relationship statistically significant. Equally they posit that youth enterprise education should commence at an early age, with the curriculum adapted to fit different levels of the education system at primary, secondary and tertiary levels. Further, they argue that entrepreneurship education at primary school level, should focus on soft skills. Youth at this stage should also be encouraged to be innovative and be creative in the way they engage with their environment and work Aziz et al., (2013) reason that once students reach the secondary level of education, entrepreneurship should focus on informing youth concerning self-employment career 15

30 options that are able to enhance success in entrepreneurship. At this stage, youth are supposed to develop non-cognitive skills, attitudes, and holistic entrepreneurial knowledge in starting an enterprise. In addition, Henry (2010) argue that youth need to engage in hands on real life projects and ventures so as to enhance their problem solving abilities. Such knowledge and skills are not only essential for actual running of the enterprise, but also in accessing funding from youth entrepreneurship funds, or loans from financial institutions. At the tertiary level of education, entrepreneurship for the youth should focus on providing a wide range of disciplines like information technology, financial accounting, cognitive skills, communication skills, negotiation and deal making skills among others (Henry, 2010). Equally, Figura (2012) debates that there is need to train youth on business innovation, creativity, self-discipline, determination, persistence, and leadership among others. According to Word Bank (2014), financial training and information technology are the most challenging yet critical elements of youth entrepreneurship. These elements are discussed in the following sections Financial Training and Literacy To overcome challenges on access to youth enterprise funds, it is essential that youthfriendly financial regulations training in entrepreneurship be enhanced by governments (Muthee, 2010). In the past, there was a myth that entrepreneurs have inherent characteristics from birth such as financial prudence innovation, and entrepreneurial skill that makes them excel compared to other people who are not born entrepreneurs (Semboja & Hatibu, 2010). Thus, it was believed that entrepreneurs can neither be trained nor developed through education. However, Maurya (2012) and Klinger and Schündeln (2011) argue that entrepreneurs can be trained just like any other professional venture. To this end, they suggest that financial training is extremely critical to success of entrepreneurship. Osterwalder, and Pigneur (2010) posit that youth entrepreneurs are the most vulnerable when it comes financial education, planning, and access. In as much as most youth who venture into entrepreneurship are usually motivated to engage in enterprise, they make a lot of financial mistakes that could easily be avoided by financial training Klinger & Schündeln, 2011). Some of the financial training necessary and critical to youth enterprise includes how to conduct enterprise financial accounting, managerial accounting, how to access entrepreneurship funds, and how to make savings from profits (Karlan, & Valdivia, 2011). 16

31 Financial accounting is one of the biggest challenges facing youth entrepreneurs. Klinger and Schündeln, (2011) argue that most youth entrepreneurs funds require that youth provide evidence that they have an understanding of financial management before funds or loans are advanced to them. This is a great challenge since most youth entrepreneurships start as sole proprietors, or partnerships, where personal fund are usually mixed with business funds, making it difficult to account for actual business funds and expenditures. Levie, and Autio (2013) contend that it is the fiduciary responsibility of government agencies advancing funds to youth entrepreneurs to be sure that the youth are able to account for the funds, and also provide audit of the funds. Thus, it is essential that youth entrepreneurs be trained on how internal financial decisions and audits are conducted in business ventures so as to enhance their chances of accessing government youth entrepreneurship funds, or even private finance institutional loans. Osterwalder, and Pigneur (2010) business model for entrepreneurship conceptualizes cost structure and revenue streams for an entrepreneurship venture. It is paramount, for any entrepreneur to have a clear understanding on what components of their business venture are going to constitute to revenues, and which ones are going to constitute cost expense to their venture. Most often, youth entrepreneurs apply for youth entrepreneurship funding without having an understanding on what will constitute the revenue streams, or how they will repay or service the loan from the youth fund, and as a result, they are denied funding (Muthee, 2010). Thus, Levie and Autio (2013) argue that it is important for youth development agencies and government youth agencies to formulate financial training models that can be used to train youth so as to enhance their chances of receiving entrepreneurship funding. Muthee (2010) on one hand asserts that government policies and incentives can go a long way in helping stimulate the financial sector to provide appropriate financial products with structured channels designed for youth entrepreneurs. On the other hand, Karlan, and Valdivia (2011) argue that channels of financial delivery are sometimes a hindrance and challenge to youth access to entrepreneurship funds. Further they argue that most government agencies only approve bank accounts as a mechanism through which youth enterprise funds can be deposited, or withdrawn. This is a challenge to most youth living in rural communities without bank accounts, or even access to banking services. As a result, they miss out on funds. 17

32 Semboja and Hatibu, (2010) argue that in as much as it is necessary for youth to be trained on financial planning, applications for loans, management of loans, and business accounting, it is necessary also for government agencies to revamp their policies to make it easier for the youth to access funds. On the other hand, House, Ikiara, and McCormic (2011) argue that innovating delivery channels for youth entrepreneurship funds would eliminate the challenge youth having to utilize banking services even in places where there are no banking services. For instance, use of mobile money transfer services like M-Pesa makes it easier for youth to access funds and loans, than using bank accounts. In their study, Levie, and Autio (2013) established the existence of a direct relationship between financial training and youth access to youth enterprise funds in Nigeria and Tanzania Training on Information Technology Globally, information technology has become extremely integrated with business operations. Entrepreneurs are finding it essential to utilize technology to conduct market analysis, test their products and services, and even conduct sales (Youth Business International, 2010). Levie, and Autio (2013) contend that technology has evolved over the years from main frame computers to devices as personal computer and mobile phone devices. Information technology is predominant in modern societies and so widespread in different entrepreneurship sectors. Oketch (2010) argue that information technology, both knowledge and techniques are dynamic and constantly changing. In the 21 st century, most entrepreneurs are utilizing e-commerce to conduct their businesses; however, the extent to which youth entrepreneurs are utilizing these platforms to access youth entrepreneurship funds is still nascent. Figura (2012) notes that youth venturing into entrepreneurship cannot avoid information technology. Most applications for entrepreneurship funds either from government agencies or the private sector are currently done via information technology platforms (World Bank, 2014). Poonam, and Smita, (2014) argue that information technology eliminates the challenge of having to use bulky paper applications for youth entrepreneurship funds. In most cases where information technology is not being used, individuals applying for youth funds are required to submit paper applications that are accompanied with supporting documentation which does take more days to process compared to online applications that take minutes to file, and to be processed. Semboja and Hatibu, (2010) contend that information technology training is important for youth entrepreneurs in helping them stay 18

33 competitive and relevant in this digital era. Understanding how to utilize web platforms, navigate the internet and how to send online content is essential to business. In rural Africa, most youth entrepreneurs either don t have access to information technology, or when they do, they don t know how to use it (Rajendar, 2012). In a study done by World Bank (2014), 75% of youth entrepreneurs in rural areas of developing countries did not have access to information technology, while 64% did not know how to use online platforms to access financial services from government youth funds and other financial institutions. In countries like Kenya, Botswana, and Rwanda where youth entrepreneurship funding has moved online poses a great challenge to youth in the rural areas who don t have access to information technology services. In as much as Figura (2012) notes that youth venturing into entrepreneurship cannot avoid information technology, he argued that lack of information technology training targeting youth entrepreneurs is also rampant. In most cases youth entrepreneurs do incur extra costs by using cyber café attendants to help them do online loan applications (Matsumoto, Hengge & Islam, 2012). In this instances, accessing online application forms, or scanning and attaching required documentation is a challenge to most youth entrepreneurs. Youth financial education is extremely significant in it enables the youth to gain essential knowledge into the operations of business venture they are desirous to venture. As stated by Semboja and Hatibu, (2010), as much as it is necessary for youth to be trained on financial planning, applications for loans, management of loans, and business accounting, it is also necessary and important for government agencies to revamp their policies to make it easier for the youth to access funds. To this end, information technology information is also important in making youth entrepreneurship ventures resilient and sustainable, and thus able to access funds due to track record of successful ventures. 2.4 Socio-Cultural Factors Influence on Access to Youth Fund Ajzen (1991) Theory of Planned Behavior (TPB) is very instrumental in understanding social cultural behaviors within given set of groups in a community. Ajzen argued that wherein an individual s behavior is best predicted by the individual s intentions; these intentions in turn, are predicted by individual s attitude, controlled behavior, and the subjective norms, or social norm. The stronger the youth intention is for entrepreneurship, the more probable the youth s behavior will be aligned to the behavior, and the more 19

34 probable the youth will engage in entrepreneurship (Ajzen, 1991). Equally, the more social norms encourage and enhance youth entrepreneurship, and financial independence, the more youth from such a social context venture into entrepreneurship. However, if the social context does not value or encourage youth financial independence or entrepreneurship, then most youth from this social setting do not venture into entrepreneurship. Eventually, their attitude towards business of entrepreneurship is defined within the social context they live. To this end, youth entrepreneurial intentions are influenced by controlled behavior, social norms, and youth attitude towards entrepreneurship (Ajzen, 1991; Fayolle et al., 2006). Therefore, it is fair to say that socio-cultural backgrounds are constructs that have been established by behavior within society that influence how youth entrepreneurs approach life and entrepreneurial activity (White, & Kenyon, 2011). Equally, Kahneman and Tversky (1979) developed Prospect theory, which indicated that decisions are not always optimal. As such, they argue that our willingness to take risks is usually influenced by the way in which choices within a given society are framed. Therefore, hurik and Grilo (2013) argue that culture as set of attitudes, beliefs and values that are dominant within a particular environment or community that enhance entrepreneurship behavior. Several researchers Figura (2012); Matsumoto, Hengge and Islam (2012); White, and Kenyon, (2011) believe that cultural attitudes within given community context does influence entrepreneurial activities. Thus, cultural differences between and within different countries are important determinants of entrepreneurial development. Karlan, and Valdivia (2011) reason that societies that create entrepreneurial environment where business failure is treated as learning point do have more youth entrepreneurs than those communities where entrepreneurial failures are frowned at. However, Figura (2012) cautions that an environment where entrepreneurship thrives is not an end in itself, but rather, a means to an end. This study looked at how attitudes and behaviors towards religion, cultural values, and family members influences youth access to youth entrepreneurship development funds Role of Religion Religion is one of the cultural aspects that sediments individual s beliefs for enterprise. (Khanifar, Hosseinifard, Dehghan, Ashnai, 2010). Religion has a way of shaping values 20

35 and beliefs of individuals in a manner that influences entrepreneurial behaviors. For instance, some religious beliefs hold that women should not be participating in enterprise, as such, such women are locked out of entrepreneurship, and therefore further access to financial services or youth entrepreneurship in general. This also seems to affect the nature and the type of business as well as women s participation in business in particular. However, study findings by Henry, (2010) indicate the contrary, that religious values do not have influence on entrepreneurial endeavors. Similarly, Carswell and Rolland (2014) contend with Henry s finding that religious faith has no significant correlation with youth success in entrepreneurship, nor do their access to youth enterprise funding. However, they do argue that more studies need to be conducted on the subject to establish components of religion that might be significant, or those that might have influence on youth entrepreneurs Cultural Values Storm et al., (2010) define culture as a system that encompasses collective values, ideas, and way of doing things that distinguishes one group or community from another. In 1980 Hofstede conducted a study that revealed work place values greatly influence culture, which has significance with entrepreneurial endeavors (Pathak et al., 2011). Hofstede developed a model that had for dimensions namely uncertainty avoidance, masculinity, individualism and power distance. In citing Hofstede, Poonam and Smita, (2014) argue that uncertainty avoidance, masculinity, individualism and power distance influences how youth entrepreneurs are motivated to engage in enterprise motives. For instance, different youth face different challenges when it comes to pursuing entrepreneurship or access to funds. The need for achievement, might push some to succeed, while others may rely on need for affiliation or the just pursuit of personal social goals. Therefore, differences in cultural values tend to have an effect on youth entrepreneurship, for instance, if a community places much emphasis on need to achievement, then failure will be frowned at; which pushes and informs youth entrepreneurs behavior on the same. Equally, low uncertainty avoidance in a culture or community is strongly linked to high risk-taking propensities, and proactive-ness of youth entrepreneurs. Pathak et al., (2011) define uncertainty avoidance as mechanisms through which individuals or a community utilize to measures their ability to deal with the ambiguities and complexities of life. Therefore, cultures that are high in uncertainty avoidance do rely on rules and regulations, 21

36 while at the same time embrace formal structures as mechanism of coping with uncertainty. This cultures have very little tolerance for change or ambiguity. Therefore, youth raised in this communities engage in entrepreneurship only when they are sure they will win; that rules for accessing youth entrepreneurship funds are clear, and that they can meet the conditions, otherwise they stay away (Storm et al., 2010). Similarly, Carswell and Rolland (2014) argue that youth entrepreneurs with need for achievement, are more willing to take entrepreneurship risks than youth in uncertainty avoiding societies. According to Pathak et al., (2011) Americans has more entrepreneurs than Europe due to their high need for achievement culture. American youth entrepreneurs show less risk aversion compared to youth in European continent. Equally, the study indicated that the fear of failure preoccupies European youth compared to American youth. Therefore, it is the case that in high achievement societies, youth do establish mechanisms to seek youth entrepreneurship funding, while those in uncertainty avoidance find their culture as a challenge to engage in venture they are not guaranteed success (Storm et al., 2010). Figura (2012) argue that communities that value masculinity, individualism and power distance have significant relations with youth entrepreneurial behavior. He defined masculinity as mechanisms through which aggression and assertiveness is exhibited within a culture. Cultures that value masculinity highly, place more emphasis on assertiveness and ostentatious behavior, prestige, and material goods. As a result, there is sufficient motivation for achievement in this communities. Youth are therefore pushed or find themselves propelled to engage in entrepreneurship (Poonam and Smita, 2014). Nichter (2009) define individualism cultures as the relationship that exists between an individual and the collective culture of the society. To this end, societies with high individualism do value autonomy and freedom more and view entrepreneurial success as an individual endeavor than community endeavor. As a result, youth who do not have sufficient motivation to engage in entrepreneurship, cannot therefore rely on the community for motivation, encouragement, or support. In addition, cultures with high power distance (hierarchies) also have less entrepreneurial activities from the youth. According to Pathak et al., (2011) high power distance cultures do have unequal distribution of power that influences how control mechanism in entrepreneurship are organized. There is also less communication between bosses and their subordinates. In such 22

37 cultures, youth find it difficult to engage government agencies who are senior in age and authority on matters concerning their eligibility for youth entrepreneurship fund, or when they have any queries on the same, the really avoid asking for clarity for fear of speaking up to authority. As a result, most of these youth miss out on youth funds. This is explained with the difference in youth entrepreneurship in the USA compared to countries like Japan (Carswell & Rolland, 2014) Role of Family Members and Peers Parents, relatives and peers do have significant influence on youth engagement in entrepreneurship endeavours, and further do shape the opinions and attitudes that youth have towards entrepreneurship (Alvaredo, & Gasparini, 2013). Youth from families with entrepreneurial backgrounds have a higher chance of engaging in entrepreneurship due to inherited family values, compared to those who come from families that are not entrepreneurial. Equally, Storm et al., (2010) argue family background, in particular, plays an important role in the formation of a mind-set open to self-employment and entrepreneurship. Some studies suggest that overall family background and values play a critical role in the entrepreneurial attitude of youth than general cultural norms or variables associated with the country. In a national survey conducted in the US by Poonam and Smita, (2014) found a strong positive relationship between family role models in entrepreneurship and the propensity for the youth to be involved in entrepreneurship. The study further indicated that youth from families where either the father or mother, or close relative has been successful in entrepreneurship, the youth within the family circle usually tend to emulate the family success by venturing into entrepreneurship also. On the other hand, Carswell and Rolland (2014) argue that family social capital is also essential in helping youth mitigate challenges associated with youth entrepreneurship fund. For instance, in their study in Nigeria, youth entrepreneurs who had family members or peers in higher places in the society, tends to get favors in accessing youth entrepreneurship funds, while those who don t have family social capital in higher places of the society don t. In studies done by Kanyari and Namusonge (2013) in Kenya also indicated that family social capital influences how youth entrepreneurship fund is distributed. For instance, their study found that even people who did not qualify as youth (those above 35 years) received 23

38 funding, while legitimate youth missed out. Consequentially, family values towards corruption, nepotism, and tribalism also influences who gets access to the youth entrepreneurship fund. Alvaredo, and Gasparini, (2013) postulate that based on studies by Pathak et al., (2011) and Storm et al., (2010) it is clear that a better part of youth entrepreneurs wouldn t have engaged themselves in in entrepreneurship had it not been the case that their family was engaged or started up their business in entrepreneurship or the case that their families pushed them by establishing networks for them that were essential for entrepreneurial ventures. Conversely, Carswell and Rolland (2014) argue that some families place more value of their children pursuing medicine, law, and engineering, rather than being engaged in entrepreneurship. In these societies, entrepreneurship is viewed as an inappropriate venture whose risks and instability have social consequences, therefore discouraged. In such instances, youth don t even get a change to venture into entrepreneurship, and thus, no opportunity to seek youth entrepreneurship funding for their ideas and innovation since they will never be tested, or launched. Social cultural attitudes and behaviours by peers and family members towards religion, cultural values influence youth access to youth entrepreneurship development funds. Of significance to note, Khanifar et al., (2010) have argued that religion is one of the cultural aspects that sediments individual s beliefs for enterprise. Therefore, youth raised in these communities engage in entrepreneurship only when they are sure they will win; that rules for accessing youth entrepreneurship funds are clear, and that they can meet the conditions, otherwise they stay away (Storm et al., 2010). To this end, Storm et al., (2010) have also intimated the importance of socio-cultural believes by arguing that family background, plays an important role in the formation of a mind-set open to self-employment and entrepreneurship among the youth, which in turn can influence or lay a foundation, or desire, or attitude and behaviour that informs youth entrepreneurs perception towards accessing the entrepreneurships funds 2.5 Chapter Summary This chapter has presented literature review based on the research questions of the study. The first research question on how regulatory frameworks hinder youth access to Youth Enterprise Fund was presented first, followed by the extent to which lack of education hinders youth access to Youth Enterprise Fund, and finally how socio-cultural attitudes 24

39 hinder youth access to Youth Enterprise Fund. Chapter three presents the study s research methodology. 25

40 CHAPTER THREE 3.0 RESEARCH METHODOLOGY 3.1 Introduction Research methodology adopted for this study is presented in this chapter. The study methodology presented includes: research design, the study population, and the sampling design which has covered the sampling: frame, technique and size. The chapter also presents data collection methods, research procedure, data analysis methods and lastly a chapter summary. 3.2 Research Design According to Cooper and Schindler (2014), research design is the framework of blueprint that guides a researcher on how to conduct a study. Qualitative descriptive research design was adopted for this study. Creswell (2007) terms a descriptive survey design as a design that enables a researcher to collect both qualitative and quantitative data without changing or influencing, or manipulating the study environment. Thus, the design would be suitable for this study, since both qualitative and quantitative data was collected without manipulating or influencing the study environment. 3.3 Population and Sampling Design Population According to Schindler and Cooper (2014), a population of a study is a defined as the total units of elements that are used to measure a study or that are used to determine the sample of the study. The total population of youth entrepreneurs under Youth Empowerment Support Services (YESS) Kenya youth program is 50. A size of 50 youth entrepreneurs was used making the study a census Sampling Design According to Mugenda et al., (2003), a sampling design is a structure or a roadmap that guides a study sample selection, and data collection. Sample design consists of sampling frame, sampling technique and sample size as outlined in the following sections. 26

41 Sampling Frame According to Cox and Hassard (2010), a sampling frame is defined as the list that accumulates total element of a population that the researcher desires to make have sample size drawn. The sampling frame consists of an up-to-date list of the population for research. For this study, a sample frame was drawn from the YESS Kenya youth entrepreneurship program with the human resource office and constitutes the population Sampling Technique Cox and Hassard (2010) define sampling technique as the set of tactics a researcher uses to select the actual sample from the population. This study was a census since all youth entrepreneurs under the YESS Kenya group were considered for this study. Cooper and Schindler (2014) argue that a census is suitable for samples that are less than 100 elements, and also for cases where extreme accuracy and high level of confidence is required. This study had less than a hundred respondents, and also needed high level of confidence, a census was determined to be the most appropriate sampling technique Sample Size According to Lewis and Thornhill (2009), a sample size is defined as the set of units drawn from the population, that are a representation of the entire population. Creswell (2007) argue that a sample size is used to determine the confidence level of the study. This study was a census; therefore, all the fifty youth entrepreneurs were used in this study. 3.4 Data Collection Methods According to Cooper and Schindler (2014), data collection is the systematic process a researcher engages to document data. Structured questionnaires were used to collect primary data. Saunders, Lewis and Thornhill (2009) define a questionnaire as a tool consisting of systematic structured and semi structured questions that respondents of a study respond to. Structured questionnaires were used to collect primary data. The data collection instrument had five parts: demographic section; Section on how regulatory framework influences access to YEDF; section on how lack of education influences access 27

42 to YEDF; section on how socio-cultural factors influences access to YEDF, and finally a section on access to YEDF. 3.5 Research Procedure Research procedure is the process through which a researcher engages to collect data from respondents. According to Sanders et al., (2009), a reliable study has to have a Cronbach Alpha above 0.6. To this end, a cover letter seeking authorization from YESS highlighting the purpose of the study and seeking permission from management to carry out the study was developed. The researcher adopted the drop and reach approach, where the questionnaires were handed physically to the respondents, after which, they were given a period of thirty minutes to fill the questionnaire, after which, the researcher collected the questionnaires back. Every questionnaire was counterchecked to ensure the questionnaire was completely filled; those that were not filled completely were returned to the respondent for the missing data. 3.6 Data Analysis This study used Statistical Package for the Social Sciences (SPSS) to conduct data analysis. Saunders, Lewis and Thornhill (2009) contend that SPSS is good tool for analyzing qualitative data in that it enables a researcher to summarize large data groups into understandable units and presentations. Descriptive statistics were analyzed in terms of frequencies, percentages, mean, and standard deviation for each research question. This allowed for the study findings on each question to be described in a manner that responds to the research questions. On the other hand, inferential statistics were analyzed for correlation to examine existence of a relationship existing between dependent and independent variables, the strength of the relationship, and the direction of the relationship. Regression analysis was done to measure the level of significance for the variables exhibiting existence of a relationship. Equally, regression was used to determine which dependent variable ranks highly among the rest when combined to determine relationship with the independent variable. Finally, ANOVA was used to examine the existence of any mean differences between dependent variable and independent variables and their significance, and also determine the mean differences within and between the groups. The study findings have been presented using figures and tables. 28

43 3.7 Chapter Summary This chapter has presented the study methodology which includes the study research design. The study had a qualitative descriptive research design since it enabled the researcher to collect data without altering the study environment, and equally the study also enabled the researcher to describe data in a summarized and understandable manner. The next chapter presents study results and findings. 29

44 CHAPTER FOUR 4.0 RESULTS AND FINDINGS 4.1 Introduction This chapter presents study results and findings based on the research questions. The findings are presented using Tables and Figures. The findings on respondents demographics are presented first, followed by the first research question on how regulatory frameworks hinder youth access to Youth Enterprise Fund; followed by research question two on the extent to which lack of education hinders youth access to the Youth Enterprise Fund, and finally on how socio-cultural attitudes hinder youth access to the Youth Enterprise Fund. The study has a response rate of 100%. All the 50 questionnaires were returned Reliability Analysis To determine whether the study instrument was reliable, a reliability analysis was conducted using a Cronbach Alpha. In order for a study to be reliable, a Cronbach Alpha must be above 0.6. The reliability analysis for this study was as indicated in Table 4.1. Table 4.1: Reliability Analysis Areas of Analysis Items Cronbach's Alpha Access to YEDF Business Registration Age Requirements Entrepreneurship License Financial Training I.T Training Role of Religion Cultural Values Role of Family and Peers Average

45 4.2 Demographic Data The respondents demographic data included gender, age, number of years as an entrepreneur, number of years under YESS Kenya youth entrepreneurship program as highlighted in the following sections: Respondents Gender According to figure 4.1 below, the findings of the study show that male respondents were the majority at 64% compared to female respondents at 36%. 36% 64% Male Female Figure 4.1: Respondents Gender Respondents Age The findings of the study show that majority of respondents, 32% were aged years, followed by 28% of respondents aged 30-35years, followed by 16% were aged years, and 16% those aged years, and finally, 8% of respondents aged years old as indicated in Figure

46 30-35 YEARS 28% YEARS 16% YEARS 32% YEARS 8% YEARS 16% 0% 5% 10% 15% 20% 25% 30% 35% Figure 4.2: Respondents Age Level of Education Respondents of the study were asked to indicate their level of education. The findings indicate that 39% of respondents indicated that they had college diploma, 28% had university degree, 14% had a college certificate, 12% had a master s degree, while 7% of respondents had an education below a college certificate as shown in figure % 39% 35% 30% 28% 25% 20% 15% 10% 12% 14% 7% 5% 0% Master's degree Bachelor's Degree Diploma Certificate Below Figure 4.3: Level of Education 32

47 4.2.4 Number of Years as an Entrepreneur Respondents were asked to indicate the years they had been entrepreneurs. Thirty-five percent (35%) of respondents indicated 1-2 years, followed by 20% who had months in entrepreneurship, then 18% with 7-9month, and 12% who had 4-6 months in entrepreneurship. Those with 0-3 months were 10% and finally those with more than three years in entrepreneurship were 5% as indicated in Figure % 35% 30% 25% 20% 18% 20% 15% 10% 5% 10% 12% 5% 0% 0-3 Months 4-6 Months 7-9 Months Months 1-2 Years Above 3 Years Figure 4.4: Respondents Number of Years as Entrepreneurs Number of Years Under YESS Kenya Program Respondents were asked to indicate the number years they had been involved in YESS Kenya youth Entrepreneurship program. Forty-five (45) percent of respondents were the majority having been in the YESS Kenya program for more than 1 year. Twenty-five (25) percent had months within the program, followed by 20% who had 7-9 months, then 6% who had 4-6months and finally, 4% of respondents who had 0-3 months within the YESS Kenya youth entrepreneurship program as indicated in Figure

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