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1233973601-Img05832.Pdf MICROFINANCE INSTITUTION SERVICES AND SUSTAINABILITY OF RETAIL BUSINESSES IN KANSANGA TRADING CENTRE BY KASUMBAKALI UMAR BBA142247/1331DU A RESEARCH REPORT SUBMITTED TO THE COLLEGE OF ECONOMICS AND MANAGEMENT KAMPALA INTERNATIONAL UNIVERSITY IN PARTIAL FULLFILLMENT OF THE REQUIREMENTS OF THEAWARD OF A BACHELORS DEGREE BUSINESS ADMINSTRATION (MARKETING) UCC 3000: RESEARCH REPORT MAY,2016 DECLARATION I KASIJMBAKALI UMAR declare that the content of this research paper is our original piece of work and had never been presented to any other institution of higher learning for the award of Bachelors of Business Administration degree. KASIJMBAKALI TJMAR DEDICATION I dedicate this research to our dear parents, friends for their financial, spiritual and moral support. They have been a constant source of inspiration and have given me the drive and discipline to tackle any task with enthusiasm and determination. ACKNOWLEDGEMENT I extend my thanks to Mr.Mugume Tom who was my supervisor through the research period who was more than generous with his expertise and precious time of reflecting, reading and encouraging throughout the entire process. I also humbly thank Dr Muzamil Gulebyo who freely shared with me valuable advise and guidance throughout my research, Finally, I thank the Almighty God, the Creator and sustainer of life for giving me the gift of life, health, knowledge and for making this research a success. III Approval I certify that the candidate has been under my supervision and the research work presented is original and meets the minimum requirements for the award of a degree in bachelor of business administration, marketing and management. S ignature,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,, Date...?~ & Mr,Mugume Tom Supervisor iv ABSTRACT The purpose of study is to show microfinance institution services on the sustainability of retail businesses in Kansanga Trading Centre. The study was guided by the following objectives; to examine the services offered by microfinance institutions to retail businesses in Kansanga Trading centre, to find out the level of sustainability of retail businesses in Kansanga Trading Centre, and to find out relationship between microfinance institution services and sustainability of retail businesses in Kansanga Trading Centre.The hypothesis of the study was “There is no relationship between microfinance institution services and sustainability of retail businesses in Kansanga Trading Centre. The study used both qualitative and quantitative designs to analyze and present data while inferential statistics was used to determine the relationship between MFIs and sustainability of retail businesses in Kansanga trading centre in terms of simple correlation or regressions analysis and a self administered questionnaire was used for data collection. Findings revealed that the respondents’ views were always without fail 3 1(30.9%), almost all the time 30 (29.7%), and sometimes 30 (29.7%) implying that most of the retail businesses in Kansanga Trading Centre have access to credit and have used it to expand and sustain their businesses. Descriptive analysis by use of the mean and the findings showed that level of sustainability were moderate evidenced by the mean of 3 :27.Futher analysis was analyzed by use of correlation and the findings were; there is a relationship between microfinance institution services and sustainability of retail businesses in Kansanga Trading Centre. This was because the p-value of 0.000 was less than a= 0.01. Therefore the null hypothesis was rejected and the alternative accepted. There was a strong positive relationship between microfinance institution services and sustainability of retail businesses in Kansanga Trading Centre. Due to other results from other areas of study, these included the integrated public policy the value chain members in the industry, a national dialogue on responsible consumption, the corporate culture, related innovations and the licenses to operate. V Table of Contents DECLARATION DEDICATION ACKNOWLEDGEMENT ABSTRACT 1/ CHAPTER ONE 1.1 Introduction 1 .2Background of the study 1.3Statement of Problem 4 l.4Specific Objectives of the Study 4 1 .SResearch Questions 5 1.6Hypothesis of the study 1.7Scope of the study 1.8Significance of the study 6 1 .9Conceptual Framework 6 2.0 Limitations of the study 7 2.lOperational Definition of Terms 7 CHAPTER TWO 9 2.2LITERATURE REVIEW 9 2.3Microfinance Services 9 2.3.lEncouragement of savings 9 2.3.2Provision of sufficient Credit ic 2.3.6Retail Businesses 11 2.3.7Liquidity Management ii 2.3.8Cash flow Management 12 2.3.9Risk management 13 3.OMicrofinance institutions and the sustainability of retail businesses 14 3.1 The relationship between microfinance institutions and the sustainability of retail businesses 15 3.2ldentifled Gap 17 CHAPTER THREE 18 3.3METHODOLOGY is 3.4Research design is 3.5Location of the study 3.6Study Population 19 3.7Sample Size 20 vi 3.8Data collection Techniques .20 3.9Data Collection Instruments 21 4.OSelf-administered Questionnaires 21 4.Ilnterview guide 22 4.2Observation 22 4,4Reliability ofthe Instruments 23 4.5Reliability Statistics 23 4.6Sampling Techniques and Procedure 23 4.7Data Analysis 24 4.8Ethical Considerations 24 CHAPTER FOUR 25 4.9INTRODUCTION 25 Bio-data 25 6.lCorrelations 35 6.2Testing the hypothesis 36 CHAPTER FIVE 39 6.5 SUMMARY, CONCLUSION AND RECOMMENDATION 39 Introduction 39 Bio —data 39 Provision of sufficient credit 39 6.6Conclusion 41 6..7Recommendations 41 6.8REFERENCES 42 7.4LIST OF APPENDICES 45 Appendix A: Questionnaire 45 7.7Appendix B: Research Work Plan/Time Frame 50 7.8Appendix C: The Budget 50 7.9Appendix D: Operationalization and Measurement of Variables 51 VII CHAPTER ONE 1. llntroductjon 1.2Background of the study The microfinance industry has become a major backbone in the sustenance, growth and survival of retail businesses (Hassan 2003). Having a reliable source of credit allows micro entrepreneurs to better plan their business activities and manage their cash flow and growth. Microfinance institutions fill a needed gap within the financial services industry by offering small loans, or micro-loans, to people unable to access conventional loan services. Within any society, financial services provide a means for people and businesses to obtain credit and manage available assets on a continuous basis. Access to financial services enables existing businesses to grow and provides the starting capital for starter businesses. Microfinance institutions provide these services within communities that have limited resources and few a venues for sustaining their businesses. In Canada microfinance institution provide micro entrepreneurs with the capital needed to operate and expand their businesses. Although the size of the loans may seem small, sometimes just $100, it is worth remembering that for half of the world’s population that survive on less than $2 a day are able to manage and sustain their businesses still a significant sum. Through the increased income generated by their businesses as well as the ability to save and obtain loans, microfinance allowed poor people to build their assets, for example by acquiring land, constructing or improving their homes and purchasing livestock and poultry. Microfinance institution services 1 reduced poor people’s vulnerability. Rotnam (2009) posits that access to credit as well as savings that often come with credit can help them to smoothen cash flows and avoid periods when access to food, clothing, shelter or education is lost. In Zambia , microfinance institutions like FINCA serve low-income entrepreneurs in rural and urban areas of the country, many of whom are single mothers caring for children orphaned by AIDS. Its 16 branches deliver financial products including individual and group loans, credit life insurance and local currency loans. According to recent publication by the centre of financial inclusions; it shows that more than one- third of borrowers surveyed reported struggling to repay their loans because of high interest rates and most of them have stopped using microfinance institution services thus this has led to the failure to sustain businesses within such groups of people (Abigail 2008). FINCA Tanzania recently became the first microfinance institution in the country to be granted a microfinance banking license, allowing it to mobilize savings from both clients and the general public. With 26 branches, it serves urban and rural clients throughout the country. Its three main loan products such a s village banking, small group and individual loans, support retail businesses of all sizes and have enabled Tanzanians to branch out into manufacturing services through the provision of small loans or micro loans thus providing starting capital for starter retail businesses and sustainability of already existing ones (Green wood, 2006). Zohir and Martin (2004) also stated that trading activities financed by MFIs helped to establish new marketing links and increased the income of traders, and this led to reduced migration due to increased employment opportunities and increased income. 2 In Uganda, currently close to 500,000 (five hundred thousands) clients have access to micro financing with a total loan bill of 100 billion Uganda shillings. The average loan size ranges between Uganda shillings 50,000 and 20 million and the majority of the clients are the low-income earners. Data extracted from FINCA Uganda Limited Management Report (2004). MFI’s have a deep outreach of over fifty major branches country wide including
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