Effect of Economic Factors on Access to Youth Enterprise Development Fund by Youth Groups in Migori County, Kenya

Abstract

Purpose: The purpose of this study was to investigate the effect of economic factors on access to YEDF on access to youth enterprise development fund (YEDF) by youth groups in Migori County, Kenya.
 Methodology: This study used descriptive research design. It targeted all the 293 registered youth groups and 8 representatives of Youth Enterprise Development Fund in Migori County. The 293 respondents were sampled to 169 youth groups using Yamane formula. The 8 representatives of Youth Enterprise Development Fund were not sampled. This gave rise to 177 respondents (169 youth group leaders and 8 representatives of Youth Enterprise Development Fund. Questionnaire and interview schedule assisted in gathering primary data. Secondary data on YEDF disbursed to successful applicants were collected by a data collection form.
 Results: The results revealed that economic factors (income status and business support services) and access to Youth Entreprise Development funds have a positive and significant association (r=0.625**, p=0.000). The study made the conclusion that there is a significant relationship between economic factors and access to YEDF in Migori County.
 Unique contributions to theory, policy and practice: The YEDF should identify the risk factors connected with each loan transaction. Proper loan conditions should be put in place to control risk associated with the loans advanced to the youth. Therefore, by strengthening the loan risk by availing the information, the YEDF will empower the youth towards better decision-making ability towards the amount, the purpose and the repayment methods/time of the loans.