Factors affecting growth of women owned business in Tanzania

This study sought to assess factors affecting growth of women owned business in Tanzania. Specifically it analyzes the extent to which level of education, access to credit ; family status and market availability affect the growth of women owned business. A survey method was used to extract information from women owners of business. Data was analyzed using frequencies, and results presented in the form of table and figures. The results reveal that education has a very significant affect on growth of women owned business; that women lack training in the business they are doing. They need more training in business skill, planning, sales and products. Most women business owner started business using their own savings. Women are still facing problems in accessing capital due to requirement of collateral by financing institutions. This is really an obstacle. Combining business and family was also found to have a negative growth of their business. Finally, on marketing availability it was found out that the growth of business can be facilitated by the availability of market. Women reported that they need training in area of marketing, i.e. how to acquire new markets and identify market opportunities. Taken all together, women owned business have low growth and need assistance in reaching expansion and growth. The study recommends that business women should be supported by assisting I searching for markets for their products and providing relevant training. It is also recommended that current high interest rates be reduced to attract business women to borrow from financial institutions