The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda

Samuel Hakizimana; Stephen Muathe; Lucy Kavinda

doi:doi:10.11648/j.jwer.20231202.13

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The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda

Samuel Hakizimana, Stephen Muathe, Lucy Kavinda

Published in Journal of World Economic Research (Volume 12, Issue 2)

Received: 1 September 2023 Accepted: 21 September 2023 Published: 12 October 2023

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Abstract

Youth - owned small and medium enterprises play a critical role in a community's economic well-being and serve as engines of social and economic development in both urban and rural areas. The efficacy of Entrepreneurs has been recognized in many countries as being essential for the global fight against poverty, corporate development, and rapid industrialization. Young entrepreneurs have a crucial role in the processes of creating and maintaining a successful economy as well as insuring inclusive distribution, both in developed nations and in countries still in the process of developing the national economy. Financial services and networking services contribute a lot in the world's financial markets, and in recent decades, its growth has accelerated Financial and networking services are an essential element in both government and non-government activities to increase employment, increase income, and deliver a stable economy. Nevertheless, firms in Rwanda are performing poorly, with business output falling from 58% in 2020 to 30% in 2021. These barriers can be overcome by using financial and networking services as approaches. Consequently, the purpose of this article was to examine the impact of social networking services and the impact of financial services on the performance of youth-owned businesses in Kigali, Rwanda. The key theories comprised resource-based theory, dynamic capacity theory, Schumpeter's Theory of Innovation, Stages of Development Theory, and contingency theory. The research philosophy adopted in this in investigation was positivism. An explanatory study design was used on a sample size of 154 enterprises chosen from a target population of 256 enterprises in Kigali, Rwanda. The research suggests policies and practical implications for improving financial and networking services on the performance of Rwandan youth-owned business entities. The investigation suggests that executives of youth-owned businesses boost their networking and financial services so that firms can learn more and gain vital prospective, allowing them to more effectively handle their businesses and improve their future success and profitability. The Rwandan government should assess the charges levied by the enterprise and the procedure of acquiring a permit to engage in the company's activities. This will make it possible for young business owners to understand and take advantage of numerous financial services and networking services, which will ultimately improve their business performance.

Published in	Journal of World Economic Research (Volume 12, Issue 2)
DOI	10.11648/j.jwer.20231202.13
Page(s)	69-80
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2024. Published by Science Publishing Group

Keywords

Resource-Based Theory View, Dynamic Capability Theory, Schumpeter's Theory of Innovation, Stages of Development Theory, Contingency Theory, Networking Services, and Financial Services

References

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Samuel Hakizimana, Stephen Muathe, Lucy Kavinda. (2023). The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda. Journal of World Economic Research, 12(2), 69-80. https://doi.org/10.11648/j.jwer.20231202.13

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Samuel Hakizimana; Stephen Muathe; Lucy Kavinda. The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda. J. World Econ. Res. 2023, 12(2), 69-80. doi: 10.11648/j.jwer.20231202.13

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Samuel Hakizimana, Stephen Muathe, Lucy Kavinda. The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda. J World Econ Res. 2023;12(2):69-80. doi: 10.11648/j.jwer.20231202.13

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@article{10.11648/j.jwer.20231202.13,
  author = {Samuel Hakizimana and Stephen Muathe and Lucy Kavinda},
  title = {The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda},
  journal = {Journal of World Economic Research},
  volume = {12},
  number = {2},
  pages = {69-80},
  doi = {10.11648/j.jwer.20231202.13},
  url = {https://doi.org/10.11648/j.jwer.20231202.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20231202.13},
  abstract = {Youth - owned small and medium enterprises play a critical role in a community's economic well-being and serve as engines of social and economic development in both urban and rural areas. The efficacy of Entrepreneurs has been recognized in many countries as being essential for the global fight against poverty, corporate development, and rapid industrialization. Young entrepreneurs have a crucial role in the processes of creating and maintaining a successful economy as well as insuring inclusive distribution, both in developed nations and in countries still in the process of developing the national economy. Financial services and networking services contribute a lot in the world's financial markets, and in recent decades, its growth has accelerated Financial and networking services are an essential element in both government and non-government activities to increase employment, increase income, and deliver a stable economy. Nevertheless, firms in Rwanda are performing poorly, with business output falling from 58% in 2020 to 30% in 2021. These barriers can be overcome by using financial and networking services as approaches. Consequently, the purpose of this article was to examine the impact of social networking services and the impact of financial services on the performance of youth-owned businesses in Kigali, Rwanda. The key theories comprised resource-based theory, dynamic capacity theory, Schumpeter's Theory of Innovation, Stages of Development Theory, and contingency theory. The research philosophy adopted in this in investigation was positivism. An explanatory study design was used on a sample size of 154 enterprises chosen from a target population of 256 enterprises in Kigali, Rwanda. The research suggests policies and practical implications for improving financial and networking services on the performance of Rwandan youth-owned business entities. The investigation suggests that executives of youth-owned businesses boost their networking and financial services so that firms can learn more and gain vital prospective, allowing them to more effectively handle their businesses and improve their future success and profitability. The Rwandan government should assess the charges levied by the enterprise and the procedure of acquiring a permit to engage in the company's activities. This will make it possible for young business owners to understand and take advantage of numerous financial services and networking services, which will ultimately improve their business performance.},
 year = {2023}
}

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DO  - 10.11648/j.jwer.20231202.13
T2  - Journal of World Economic Research
JF  - Journal of World Economic Research
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AB  - Youth - owned small and medium enterprises play a critical role in a community's economic well-being and serve as engines of social and economic development in both urban and rural areas. The efficacy of Entrepreneurs has been recognized in many countries as being essential for the global fight against poverty, corporate development, and rapid industrialization. Young entrepreneurs have a crucial role in the processes of creating and maintaining a successful economy as well as insuring inclusive distribution, both in developed nations and in countries still in the process of developing the national economy. Financial services and networking services contribute a lot in the world's financial markets, and in recent decades, its growth has accelerated Financial and networking services are an essential element in both government and non-government activities to increase employment, increase income, and deliver a stable economy. Nevertheless, firms in Rwanda are performing poorly, with business output falling from 58% in 2020 to 30% in 2021. These barriers can be overcome by using financial and networking services as approaches. Consequently, the purpose of this article was to examine the impact of social networking services and the impact of financial services on the performance of youth-owned businesses in Kigali, Rwanda. The key theories comprised resource-based theory, dynamic capacity theory, Schumpeter's Theory of Innovation, Stages of Development Theory, and contingency theory. The research philosophy adopted in this in investigation was positivism. An explanatory study design was used on a sample size of 154 enterprises chosen from a target population of 256 enterprises in Kigali, Rwanda. The research suggests policies and practical implications for improving financial and networking services on the performance of Rwandan youth-owned business entities. The investigation suggests that executives of youth-owned businesses boost their networking and financial services so that firms can learn more and gain vital prospective, allowing them to more effectively handle their businesses and improve their future success and profitability. The Rwandan government should assess the charges levied by the enterprise and the procedure of acquiring a permit to engage in the company's activities. This will make it possible for young business owners to understand and take advantage of numerous financial services and networking services, which will ultimately improve their business performance.
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Author Information

Samuel Hakizimana

Department of Business Administration, Kenyatta University, Nairobi, Kenya
Stephen Muathe

Department of Business Administration, Kenyatta University, Nairobi, Kenya
Lucy Kavinda

Department of Business Administration, Kenyatta University, Nairobi, Kenya

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Samuel Hakizimana, Stephen Muathe, Lucy Kavinda. (2023). The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda. Journal of World Economic Research, 12(2), 69-80. https://doi.org/10.11648/j.jwer.20231202.13

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Samuel Hakizimana; Stephen Muathe; Lucy Kavinda. The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda. J. World Econ. Res. 2023, 12(2), 69-80. doi: 10.11648/j.jwer.20231202.13

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Samuel Hakizimana, Stephen Muathe, Lucy Kavinda. The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda. J World Econ Res. 2023;12(2):69-80. doi: 10.11648/j.jwer.20231202.13

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@article{10.11648/j.jwer.20231202.13,
  author = {Samuel Hakizimana and Stephen Muathe and Lucy Kavinda},
  title = {The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda},
  journal = {Journal of World Economic Research},
  volume = {12},
  number = {2},
  pages = {69-80},
  doi = {10.11648/j.jwer.20231202.13},
  url = {https://doi.org/10.11648/j.jwer.20231202.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jwer.20231202.13},
  abstract = {Youth - owned small and medium enterprises play a critical role in a community's economic well-being and serve as engines of social and economic development in both urban and rural areas. The efficacy of Entrepreneurs has been recognized in many countries as being essential for the global fight against poverty, corporate development, and rapid industrialization. Young entrepreneurs have a crucial role in the processes of creating and maintaining a successful economy as well as insuring inclusive distribution, both in developed nations and in countries still in the process of developing the national economy. Financial services and networking services contribute a lot in the world's financial markets, and in recent decades, its growth has accelerated Financial and networking services are an essential element in both government and non-government activities to increase employment, increase income, and deliver a stable economy. Nevertheless, firms in Rwanda are performing poorly, with business output falling from 58% in 2020 to 30% in 2021. These barriers can be overcome by using financial and networking services as approaches. Consequently, the purpose of this article was to examine the impact of social networking services and the impact of financial services on the performance of youth-owned businesses in Kigali, Rwanda. The key theories comprised resource-based theory, dynamic capacity theory, Schumpeter's Theory of Innovation, Stages of Development Theory, and contingency theory. The research philosophy adopted in this in investigation was positivism. An explanatory study design was used on a sample size of 154 enterprises chosen from a target population of 256 enterprises in Kigali, Rwanda. The research suggests policies and practical implications for improving financial and networking services on the performance of Rwandan youth-owned business entities. The investigation suggests that executives of youth-owned businesses boost their networking and financial services so that firms can learn more and gain vital prospective, allowing them to more effectively handle their businesses and improve their future success and profitability. The Rwandan government should assess the charges levied by the enterprise and the procedure of acquiring a permit to engage in the company's activities. This will make it possible for young business owners to understand and take advantage of numerous financial services and networking services, which will ultimately improve their business performance.},
 year = {2023}
}

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TY  - JOUR
T1  - The Role of Networking and Financial Services on the Performance of Youth-Owned Enterprises in Kigali City, Rwanda
AU  - Samuel Hakizimana
AU  - Stephen Muathe
AU  - Lucy Kavinda
Y1  - 2023/10/12
PY  - 2023
N1  - https://doi.org/10.11648/j.jwer.20231202.13
DO  - 10.11648/j.jwer.20231202.13
T2  - Journal of World Economic Research
JF  - Journal of World Economic Research
JO  - Journal of World Economic Research
SP  - 69
EP  - 80
PB  - Science Publishing Group
SN  - 2328-7748
UR  - https://doi.org/10.11648/j.jwer.20231202.13
AB  - Youth - owned small and medium enterprises play a critical role in a community's economic well-being and serve as engines of social and economic development in both urban and rural areas. The efficacy of Entrepreneurs has been recognized in many countries as being essential for the global fight against poverty, corporate development, and rapid industrialization. Young entrepreneurs have a crucial role in the processes of creating and maintaining a successful economy as well as insuring inclusive distribution, both in developed nations and in countries still in the process of developing the national economy. Financial services and networking services contribute a lot in the world's financial markets, and in recent decades, its growth has accelerated Financial and networking services are an essential element in both government and non-government activities to increase employment, increase income, and deliver a stable economy. Nevertheless, firms in Rwanda are performing poorly, with business output falling from 58% in 2020 to 30% in 2021. These barriers can be overcome by using financial and networking services as approaches. Consequently, the purpose of this article was to examine the impact of social networking services and the impact of financial services on the performance of youth-owned businesses in Kigali, Rwanda. The key theories comprised resource-based theory, dynamic capacity theory, Schumpeter's Theory of Innovation, Stages of Development Theory, and contingency theory. The research philosophy adopted in this in investigation was positivism. An explanatory study design was used on a sample size of 154 enterprises chosen from a target population of 256 enterprises in Kigali, Rwanda. The research suggests policies and practical implications for improving financial and networking services on the performance of Rwandan youth-owned business entities. The investigation suggests that executives of youth-owned businesses boost their networking and financial services so that firms can learn more and gain vital prospective, allowing them to more effectively handle their businesses and improve their future success and profitability. The Rwandan government should assess the charges levied by the enterprise and the procedure of acquiring a permit to engage in the company's activities. This will make it possible for young business owners to understand and take advantage of numerous financial services and networking services, which will ultimately improve their business performance.
VL  - 12
IS  - 2
ER  -

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