Abstract: According to the laws and regulations of the Nandi District Government, SMEs are prioritized. However, the lack of sufficient working capital, relevant technological capabilities and global market access prevents these SMEs from realizing their full potential. The purpose of this research was to find out how the financial performance of grocery sellers at the Kapsabet Municipality Market in Nandi County, Kenya, was affected by their ability to access banking services. A descriptive research design was used for this investigation. The study focused on 1000 grocery vendors at the Kapsabet Municipality Market in Nandi County, Kenya. As of December 2019, the Nandi County Government had registered 1000 vendors as grocery providers. These vendors included 231 clothes, 182 beverage, 238 service, and 226 curio sellers. There were 286 respondents in the sample. The respondents were divided into two groups using the stratified sampling method: wholesale dealers and retail traders. Respondents were selected by basic random selection from these groups. 335 persons made up the sample. Questionnaires were used to collect data for the study. A questionnaire with 33 respondents who were excluded from the final data collection system was evaluated in order to determine the validity and reliability of the questionnaire item. Descriptive statistics like descriptive and standard deviations were used to assess and portray quantitative data in the form of tables, charts, and bar graphs. The study employed inferential statistics, including multiple regression analysis and correlation analysis, to ascertain the interaction between the variables. A strong and favorable correlation was observed between the financial performance of grocery merchants at Kapsabet Municipality Market and their access to banking services. According to the study's findings, consumers who have access to banking services may easily make payments at retail establishments or withdraw cash. They can also readily apply for loans to increase their company's financial capacity, which they then pay back at a fair interest rate. Therefore, the study recommends that the county government foster an environment that is favorable to the establishment of banks and other financial institutions, as well as educating grocery stores about the value of using bank services. These actions will help to mitigate access issues and lower transaction costs and agency problems. Possess laws that are favorable to small-business leasing, factoring, equity, banking, and credit guarantee programs.
Keywords: Access to banking services, Financial Performance.
Title: EFFECTS OF ACCESS TO BANKING SERVICES ON FINANCIAL PERFORMANCE OF GROCERY VENDORS AT KAPSABET MUNICIPALITY MARKET IN NANDI COUNTY, KENYA
Author: Edith K. Jebitok, Dr. Eddie Simiyu
International Journal of Social Science and Humanities Research
ISSN 2348-3156 (Print), ISSN 2348-3164 (online)
Vol. 11, Issue 4, October 2023 - December 2023
Page No: 320-325
Research Publish Journals
Website: www.researchpublish.com
Published Date: 11-November-2023
