ENHANCING SUSTAINABILITY OF BEAUTY PARLORS IN NANYUKI TOWN THROUGH ENTREPRENEURIAL CREATIVITY
Abstract
Purpose of Study: This study investigated the influence of entrepreneurial creativity on sustainability of beauty parlors in Nanyuki Town.
Problem Statement: Beauty parlors to a great extent contribute to employment creation and revenue generation for both business owners and the government. However, many of these businesses face stagnation and a high risk of closure in their early years.
Methodology: A descriptive research design was employed, targeting 127 owners of registered beauty parlors in Nanyuki Town. Given the small population size, a census method was utilized to select all respondents. Primary data was collected through a semi-structured questionnaire and analyzed using descriptive statistics mean, standard deviation, and coefficient of variation as well as regression analysis.
Result: The findings revealed a strong positive association between entrepreneurial creativity and sustainability (r = 0.75, p < 0.01).
Conclusion: The study concludes that although the cost-effectiveness of new processes received somewhat less emphasis, the overall view is that creativity is a key factor in achieving sustainability.
Recommendation: The study recommends enhanced access to diverse sources of capital, including loans and grants tailored for small and medium-sized beauty parlors. It also suggested collaboration with financial institutions to enhance funding access and the provision of financial literacy training on financial management and loan repayment strategies, enabling beauty parlor owners to manage their finances more effectively.
Keywords: Entrepreneurial Creativity, Sustainability, Beauty Parlors, Business Innovation, Nanyuki Town
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