About ninety percent of all small business owners in Kenya have no university degrees, the 2017 Kenya Economic Survey Shows.
The current Economic Survey shows that one third of all licensed startup founders have completed their high school education, while 23 per cent of them have KCPE certificates with only about 10 ten percent having university degrees.
The data shows that our universities have prepared young people to be employed rather than to create jobs. It seems that most of the business owners start business as means to sustain their livelihoods rather than add value to society.
In the unlicensed SMEs segment 39.7 percent of the business owners polled had attained primary education while 31.4 percent did not go to school at all.
Recent research from TIFA Research shows that most big companies are laying off workers are not likely to hire but small businesses have been hiring more staff.
The economic survey also reports that at least 84 of all Kenyans are employed in the small businesses and informal sectors.
Held back by lack of sufficient funds, most of this businesses were started by a capital of Sh50,000($500).