EFFECT OF FINANCIAL PLANNING AND WORKING CAPITAL MANAGEMENT ON THE PERFORMANCE OF FRUIT FARMING IN KENYA: A CASE OF MACHAKOS COUNTY
DOI:
https://doi.org/10.47604/ijfa.617Keywords:
Financial planning, working capital management and performanceAbstract
Purpose: The purpose of this study was to establish the effect of financial planning and working capital management on the performance of fruit farming.
Methodology: Descriptive research and correlation research design were used in this study. The target population in this study was fruit farmers in Mwala Sub County in Machakos County who were 2702. Quota sampling technique was used and the sample size was 348. Primary data was collected using a questionnaire. Quantitative data was analyzed by use of descriptive and inferential statistics (correlation). Qualitative data collected was analyzed using content analysis technique. The findings of this study were presented in tables, charts and graphs.
Results: The study established that financial plans have a positive and significant correlation with performance of fruit farming. Working capital management, too, was found to have a positive and significant correlation with performance of fruit farming.
Unique Contribution to Theory, Policy and Practice: Based on these findings, the researcher recommended that the agricultural ministry in the county government need to train mango farmers on financial planning and have follow-up programs on the same. The study also recommended that the government, NGOS and investors whose interest lies in supporting farmers need to extend their training support to them. Further, financial institutions need to implement mechanisms for supporting the mango farmers financially.
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