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Tough times as small traders slow down on credit advances

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Three in 10 enterprise owners whose business was reported shut went out for financial assistance from friends and family as they did not intend to accumulate more debt. [iStockphoto]

Lack of working capital is the main reason why small business owners are closing shop, according to a recent survey.

The Central Bank of Kenya (CBK) survey also notes that these traders are slowly becoming reluctant to sell their products on credit, a factor that could be behind the lack of working capital, hence closing shop.

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