SOCIAL-ECONOMIC FACTORS AND THEIR EFFECT ON RURAL BASED ENTERPRISES IN KENYA

Dr. Peter Isaboke OMBOTO¹ (isaboke59@yahoo.com)
Senior Lecturer, Moi University, Eldoret, Kenya
Dr. Ruth TUBEY^2* (ruthtubey@gmail.com)
Senior Lecturer, Moi University, Eldoret, Kenya
Nandwa J. MUSAMBAYI³
(Corresponding Author-nandwajmusambayi@gmail.com)
Lecturer, University of Eldoret, Kenya
Clare M. K. SITUMA4 (situmaclare@yahoo.com)
Ph.D. Student, Jomo Kenyatta University of Agriculture and Technology, Kenya

ABSTRACT
A successful rural enterprise is no doubt, the consummate business that must be pursued by all in Kenya. It is evident that nearly all rural enterprises have the opportunity to control their own destiny. Success is obviously not a guaranteed, but none is a failure. Some of the major causes of poor performance are poor planning; lack of experience, e.t.c. Rural enterprises should have strong business plan. An important part of this plan should be an exit strategy in case the business runs into problems. Rural circumstances are changing: development thinking is changing; and rural development policy needs to keep up; if aid for rural development is to be re-established on growth path, then it will be within the wider aid context, dominated by ideas about the comprehensive development framework, poverty reduction strategy papers and SECTOR WIDE approaches. Key features of the CDF and PRSPs are holistic approach, ownership, and partnership and result orientation.
Key Words: Social-Economic Factors, Gross Domestic Product, Rural-Based Enterprises