- Crossref DOI Prefix: 10.31695/IJASRE
- ISSN: 2454 - 8006
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International Journal of Advances in Scientific Research and Engineering-IJASRE
Factors Affecting the Ability to Start Business among Post-Employed Persons in Remote Environments: The Case of Tata Chemicals Limited, Kenya
Article Category: Management Science
Author: Paul Chandoo Musango,Daniel K. Kimwetich,Peter Mugoh Gatana
The purpose of this study was to investigate the factors affecting post-employed persons starting businesses in a remote environment. The objectives of the study were: to determine the effect of lack of requisite experience on post-employed persons starting business in a remote environment; to determine the effect of redundancy on post-employed persons starting business in a remote environment; to determine the effect of age on post-employed persons starting business in a remote environment and; to determine the effect of lack of access to capital on post-employed persons starting business in a remote environment. There are 87 employees of Tata Chemicals limited living in the premises of the company. The researchers used a simple random sampling method in the study. Herein, the study sampled 71 persons. Results from the study findings were then analyzed through the use of descriptive statistics. The findings obtained show that many post-employed persons decide to look for an alternative form of income. In other cases, employees who are declared redundant and laid off from their jobs find themselves lacking the psychological preparedness to start businesses. Employees who leave their job may also be faced with age-related constraints. In this case, they may lack the competitive edge need to ensure the success of a business. Lastly, the study concludes that access to capital affects start-up businesses tremendously. In light of this the study recommends as follows: organizations that employ people should invest in on-job training so as to enhance the capacity of their employees after leaving their jobs; the government should strengthen the financial kitties aimed at enhancing the access of funds to retired and old people; microfinance institutions should come up with products that target post-employed persons Lastly, working people should constantly enroll in training programs since this may enhance their capacity to undertake income generating activities such as businesses in the future after employment.
Keyword: Post Employed Persons, Remote Environment, Requisite Knowledge, Redundancy, Capital, Age.
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