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Studies done by researchers around the world show women are in entrepreneurship in major towns and rural areas of Africa. Financial institutions have developed various products to boost their entrepreneurial spirit together with government support programmes with an aim to avail credit and increase the success rate of women owned businesses. The study sought to determine the influence of capital on performance of small and medium enterprises owned by women entrepreneurs. The main variables under focus included; access to capital, working capital structure, capital affordability and government finance programs. The study will fill a research gap as there is no known study to have been done in Kwale county. The theoretical framework forming the basis of the study consisted of; resource-based theory, dynamic trade off theory and access to capital theory. A comprehensive literature review was given for each variable and their relationships highlighted. The study adopted a descriptive research design, a population of 2000 and a sample of 600 SME owners. Furthermore, the study used questionnaires for data collection that were hand delivered to respondents after validity and reliability through pilot testing techniques. Data collected was coded, sorted and analyzed by use of simple regression model with the help of Statistical Package for Social Sciences application. The study was conducted in line with ethical requirements by seeking permissions from the university and government institutions before commencement of the study. Data from 501 respondents was analysed representing 83.5% of the sample. The results indicated that access to capital, capital affordability, working capital structure and government finance programs had a positive influence on performance of women owned SMES. The study concluded that for women entrepreneurs to perform well in their business, efforts should put in place to ensure capital is made accessible, affordable while enlightening them on what alternatives sources of capital are available; whether from the government or private sector, for better working capital structure. Finally, the study recommended that studies should be conducted on influence of knowledge, skills and management styles on the performance of women owned SMES in Kwale County.

Influence of Financing on Performance of Small and Medium Women Owned Enterprises in Kwale County, Kenya