Influence of Selected Factors on The Growth of Exhibitions: A Survey of Machakos Central Business District, Kenya

It is envisaged that sustained growth of small and medium enterprises is the greatest tool to economic growth and poverty reduction in developing nations. In the rapidly changing global business environment the competitive success of micro and small enterprises arises from the continuous development and reconfiguration of the enterprise’s specific asset with a view of achieving sustainable competitive advantage. In light of this fact, this study sought to examine the influence of selected factors on the growth of exhibitions in Kenya through a survey of Machakos Central Business District in Machakos town. Among the factors under study were the influence of financial records management; recruitment; pricing and the business environment on the growth of exhibitions. To achieve this, the study employed the use of a descriptive survey that targeted all the exhibition owners thus a census study. A structured questionnaire was used to gather data from the respondents. The study targeted all 150 exhibition traders and was able to draw the participation of 127 respondents. All the quantitative data gathered during the study was analysed with the aid of Statistical Package for the Social Sciences, while the qualitative data was analysed through content analysis. The findings revealed that good financial record management, good recruitment and selection processes, an effective pricing strategy and a conducive business environment all positively impact on the positive growth of exhibition centres. The results of this study provide an in-depth understanding of the operations of exhibitions by stakeholders. The study concludes that despite experiencing significant growth, exhibition traders still face numerous challenges related to the four selected factors influencing business growth, including lack of basic accounting skills, inadequate human resource management skills, unsupportive by-laws, and limited financial skills, which collectively hinder the growth of exhibition businesses. The study recommends that the County government establish a "One Stop Business Development and Solution Centre" to address the integrated challenges facing Exhibition Centres (ECs) and SMEs. In addition, business owners and employees should seek out trainings and workshops to enhance their management and record-keeping skills. Furthermore, County Governments are advised to review and develop business-friendly policies and regulations to create a supportive ecosystem for ECs and SMEs. Keywords: Financial records management, recruitment, pricing, business environment, growth, Exhibition Centres, Machakos town Central Business District, Kenya