Abstract:
The post retirement business enterprises are vital for any economy as they have the ability to create employment, keep retirees busy and a source of income after retirement. The purpose of this study was to determine factors affecting performance of post retirement business enterprises in Ugunja Sub County Siaya County. The objectives of the study were to: find out the influence of the entrepreneurial knowledge on the performance of post retirement business enterprises, investigate the effects of finance availability on the performance of post retirement business enterprises, establish the effects of business location on the performance of post retirement business enterprises and assess the influence of business demand on the performance of post retirement business enterprises in Ugunja Sub County, Siaya county. The information provided by this research will benefit policymakers, retirees, community members and academicians. The study was guided by Contingency and Human Capital Theory. It adopted a descriptive survey research design and inferential statistics. The target population for the study was 80 retirees. The researcher used census and collected data using questionnaires. The instrument was validated by the supervisors. Reliability of the instrument was determined through a pilot study where a Cronbach alpha coefficient of 0.708 was obtained from the instrument. This indicated that the instrument was reliable. Quantitative data was analyzed using descriptive statistics and inferential statistics and presented in tables. The study established that the following factors; entrepreneurial knowledge, financial availability, business location and business demand with p-values (p=0.001, p=0.000, p=0.010 and p= 0.000) significantly affect performance of post retirement business enterprises respectively. It was therefore concluded that for enhanced performance of post retirement business enterprises, entrepreneurial knowledge, appropriate business location, financial availability and adequate business demand should be adhered to by post retirement entrepreneurs. The study recommended to policy makers that they come up with a blue print plan for retirees, the government and other organizations should train retirees to have adequate entrepreneurial knowledge and also facilitate credit facilities for the retirees to enable them have sufficient funds for their post retirement business enterprises. The study also recommended to retirees to ensure that they choose appropriate location Sand demand for their business enterprises to enable them grow to corporate business entity.
