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INFLUENCE OF INTERNAL CONTROLS ON GROWTH OF SMALL AND MEDIUM ENTERPRISES IN THE ERRAND SERVICES BUSINESSES IN NAIROBI COUNTY

Eric Antony Ngugi Njaramba Masters Student, Jomo Kenyatta University of Science and Technology, Kenya

Dr. John Karanja NgugiLecturer, Jomo Kenyatta University of Agriculture and Technology, Kenya


ABSTRACT

The purpose of this study was to establish the influence of internal control on growth of small business in Kenya. The specific objectives of the study were: To establish the role of technology, human resource practices, entrepreneurial skills, managerial skills as internal control factors influencing the growth of small and medium enterprise in the errand services businesses in Nairobi County.  The study used descriptive survey. Data available from the Association of errand service provider 2013 reveal that there are 1,370 SMEs. A proportionate sample size of approximate 137 respondents which is 10% of the population was selected using a stratified random sampling technique from the identified sample. Data was collected using questionnaires that had linkert scale. Data analysis was done using SPSS Version 21 software and results finding tabulated for presentation and interpretation done. The study established that entrepreneurship skills, managerial skills, human resource practice and technology as internal control factors have a positive correlation with growth of errand service providers in Nairobi. The results established that there was a significant association between all the variables of managerial skills and growth of SMEs. In human resource practices, the results indicate that there is a significant association between all the measures of human resource and growth of SMEs. Only relationship with Entrepreneurial skills and technology was insignificant. The study concluded that Entrepreneurship, managerial skills, human resources and technology are critical ingredients in realizing economic growth in a country through bringing in new ideas, making appropriate decisions and tapping on latest technology for effectiveness with the suitable human resource. The study recommends that the business operators should undergo thorough training to improve on the components of internal control.


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