ABSTRACT
This research work has
the title. ‘Entrepreneurial Development and its impact in our economy’ this
study was embarked upon in order to know the problems militating against
entrepreneurship, its source of finance and the roles entrepreneurs play in
Eboyi state as a test case.
A good number of works
already carried out were reviewed. In order to achieve the set objectives, care
was taken in collection of relevant data, using primary and secondary method of
data collection such as interviews, questionnaires administration, personal
observation and experiences.
Target population was
appropriately segmented into sample – size. The researcher tried as much as
possible to state the entrepreneurial developments and its impact honour
economy bearing in mind the importance of the study.
The data gathered which
were subsequently analyzed and interpreted, helped us to know the impact of
entrepreneurial development in our economy in the area of job opportunities,
social amenities and the like.Consequently, the researcher found out that
entrepreneurship attributes so much in our economy positively such as ;
- enough
produce
- provision
of employment opportunities
- production
for exportation
- increase
in our foreign exchange earnings.
- Growth
of small and medium scale industries.
The researcher
concluded, sequel to the result of the hypothesis tested which proved true
entrepreneurship encourages large- scale production.
Finally, the researcher
recommended that the government should provide and keep proper watch the
entrepreneurs as checks and balances. There should be increase in the proper
utilization of credit facilities to enhance the growth of entrepreneurship in
Eboyi state, and the like.
TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1 Background
of the study
1.2 Statement
of the problem
1.3 Purpose
of the study
1.4 Scope
of the study
1.5 Research
questions
1.6 Research
hypothesis
1.7 Significance
of the study
1.8 Limitations
of the study
1.9 Definition
of terms.
References
CHAPTER TWO
REVIEW OF RELATED
LITERATURE
2.1
Meaning and concept of entrepreneurship
2.2
History of entrepreneurial development in
Nigeria.
2.3
Economic effect of entrepreneurship in Nigeria.
2.4 Impact
of entrepreneurial development in Ebonyi state
references
CHAPTER THREE
RESEARCH DESIGN AND
METHODOLOGY
3:1
Research design
3.2 Area
of the study
3.3 Population
of the study
3.4 Sample
and sampling
3.5
Instrument of data collection
3.6
Validatiion of instrument
3.7 Reliability
of the instrument
3.8 Method
of data collection
3.9 Method
of data collection
References
CHAPTER FOUR
4.1 Data
presentation and analysis
4.2 Testing of
hypothesis
4.3
Summary of results
CHAPTER FIVE
DISCUSSION OF RESULTS
AND FINDINGS
5.1
Summary of findings
5.2 Conclusion
5.3
Implication of the research findings
5.4Recommendation
5.5
Suggestion for the research
Bibliography
Appendix
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
The worldwide economic
depression of the early 80’s caused a rapid deterioration of the Nigeria
economy. The output shrank to an all time local and commercial activities,
which were consequently reduced, leading to the loss of employment
opportunities in the country. Therefore, by the end of 1985, the unemployment
situation in Nigeria had increased its proportions and as such most Nigeria
graduates were faced with hardship due to unemployment in the country. This
situation therefore calls for entrepreneurship in Nigeria economy which also
leads to entrepreneurial development in the higher institution.
However, at this
juncture a brief history of entrepreneurship in Nigeria will give more insight
on the study. Statistics have it that Africa is the poorest and less developed
continent in world. Many state-owned enterprise in Africa were created
when it was believed that the fastest route to development occurred when the
state took on the role of entrepreneur.
Although Nigeria was at
one time characterized by such inefficiency, but has recently pursued
entrepreneurship encouragement policies. And the initial indications suggest
that the policies have been successful. In Nigeria, the state-owned enterprises
traditionally clogged business opportunities and restructure private
entrepreneurs from entering the market. However, in the mid 1980’s Nigeria abolished
it’s marketing board, which prevented entry into certain industries and it’s
market to competition from domestic entrepreneurs.
Although Nigeria is
still ploughed by many development problems preliminary evidence suggest a
favourable response by the private sector to the new entrepreneurial
opportunities. Although there is only limited consensus about the
characteristics of entrepreneurship, the concept is almost as old as the formal
discipline of economics itself. Early 18th century French
economist named Richard Canadian first introduced the term entrepreneur. In his
writings he formally described the entrepreneur as the agent who buys the means
of production at certain prices in order to combine them into new product. (Schumpeter,
1951) short after that the French economist J. B. added to the Castilian
definition by including the idea that entrepreneurs has to be leaders. That an
entrepreneur is one who builds a single product organism. (Schumpeter, 1951)
The necessity of entrepreneurship
for productivity was formally recognized by Alfred Marshall in
1990. In his famous practice principle of economics, Marshall ascertains that
there are four factors of production; Land, Labour Capital and organization.
These factors are properly utilized by an entrepreneur. Thus entrepreneur
creates new commodities or improves the plan of producing an old commodity.
(Marshall1994).
Hence early
entrepreneurs were characterized with production and manufacturing. In this
case, the producers most often started with small capital. Early
entrepreneurship started with trade by barter even before the advent of money.
However, modern entrepreneurship in Nigeria started with the coming of the
colonial masters, who brought in their wears and made Nigerians their
Middlemen. In these way modern entrepreneurs was conceived. Most of the modern
entrepreneurs were engaged in retail trade or sole proprietorship.
STATEMENT
OF PROBLEM
When comparing
entrepreneurship development in Nigeria with other countries like America,
Japan, China etc, we realize that these countries started on the same platform
as Nigeria started with trade by barter and then advanced to their present
state of economic growth. In fact they are faster in their development of
entrepreneurship than Nigeria. Why this differences? This research work will
find out to this effect the following:-
1) The
general problem encountered by entrepreneurs in Nigeria in establishing
business.
2) To
find out the basic orientation that should be given to Nigerian entrepreneurs.
3) To
discover the rate of employment and find out the various business opportunities
that will be of help to the Nigerian economy through entreprenurship.
4) To
also find how government program has been of help to various entrepreneurs in
the country.
1.3 PURPOSE
OF STUDY.
From all that has been
mentioned above, it is the aim of the study to find out the or know
entrepreneurial benefits on the following:-
- Small
scale business
- Nigeria
economy
- To
various employers and employees
- To
business organizations.
SMALL SCALE BUSINESS
The small-scale business
will benefit immensely, if the government is encouraging entrepreneurs in the
country and proper orientation on their obligation as an entrepreneur towards
business is given. Besides, an enabling environment should be created to enable
them to thrive, and also carry out their functions in the business environment.
Thus small-scale business in the country will grow if government can also
provide financial assistance in order to encourage the individual
entrepreneurs.
NIGERIA ECONOMY
There will be a
tremendous increase or improvement in the Nigerian economy. Entrepreneurship
will be of benefit to industrial, household, firms and government. In the area
of decision making, organizing the organizational structures, and making out
plans are accomplished. Thus, this will go a long way in increasing job
opportunities in the country, which in turn will reflect on the country’s
capital income, and this will increase the rate of the G. N. P.
TO VARIOUS EMPLOYERS AND
EMPLOYEES.
Entreprenurship will be
of importance to employers and employees. In the areas of employers, it will
enrich their managerial skills, their vision, purpose and plans for the
organization. Also in the area of the employees, there will be job
opportunities for the graduates and other school leavers and this will reduce
the rate of dependence ratio in the country that is not solely relying on
government to provide jobs. To this effect, the government has introduced
various programs under the N.D.E.so as to motivate both the employers and
employees. Under this program, the N.D.E. provides loans to graduates for the
operation of small-scale business.
TO BUSINESS
ORGANIZATIONS
Entreprenurship will
also be of immense benefit to business organizations because the Nigerian
economy and its environment will be an investing area for most investors due to
capable skilled workers that will handle the affairs of the organization or
company without involving much foreign counterparts on the job. Thus, will in
turn create more job opportunities in the country and this will increase the
level of organizational profitability ratio.
1.4 SCOPE OF THE STUDY.
It is an obligation on
the part of the researcher to survey and evaluate the purpose of
entrepreneurial development and its benefits to the economy. The researcher
will also find out the tactics of an entrepreneur in the 1980’s, the causes and
the brain behind their failures and success. The researcher will also find out
various economics scholars who have contributed immensely to the growth of entrepreneur
in the world. The researcher will also find out more information about
entreprenurship in the country. However, the study of the researcher covers the
purpose of entrepreneur in the country particularly Enugu State.
1.5 RESEARCH QUESTIONS
The following research
questions were imposed: -
i What is the essence of
Entrepreneurship in an economy?
ii What are the problems
of Entrepreneurship?
iii Does organization benefit from
entrepreneurs?
iv What has the
government done for entrepreneurs in the country?
1.6 RESEARCH HYPOTHESIS
The following hypothesis
would be tested: -
i
Ho – Entrepreneurs does not encourage large scale production in the economy.
Hi – The essence is to build up the nation’s economy to create employment and
to improve managerial skills.
ii.
Ho- Entrepreneurial problems are not only in the following level of Managerial
skill and poor infrastructure.
Hi – Entrepreneurial problems
in Nigeria are as follows: -Financial
Constraint, lack of managerial skills and poor orientation.
iii
Ho- Organizations benefits from entrepreneurs in organizational planning.
Hi – Organization does not benefit much from
entrepreneurs due to Inefficiency of job performance.
iv
Ho- Government plans towards the provision of credit facilities is not
encouraging.
Hi- Government plans for entrepreneurs is to
provide credit facilities to various entrepreneurs in the country.
1.7 SIGNIFICANCE OF THE
STUDY.
The importance of the
study cannot be over-emphasized, since it is expected to affect our economy and
also increase the creation of job opportunities in the country especially in
Enugu state. However, this project when completed will be of immense benefits
to the following: -
- The
Nigerian economy in general
- The
small-scale industries
- The
general public
- Creation
of job opportunities in the country.
- Also
there will be increase in the managerial skills.
1.9
DEFINITION OF TERMS.
The following terms used
in this study should be taken to mean the following.
COMMODITIES
These are articles of
trade
N.D.E.
National
Directorate of Employment
NEW PRODUCT
These are new existing products in the market
environment
G. N. P
Gross National Product
ENTREPRENEUR.
This is a person who
starts a business and takes the finance risks and personal risks involved in
keeping the business going.
Or
An entrepreneur is an
individual agent who buys means of production at a certain price in order
to combine them into new product.
Department | Business Administration and Management |
Project ID Code | BAM0070 |
Chapters | 5 Chapters |
No of Pages | 72 pages |
Methodology | Chi Square |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2349067372103 |
Contact Us On | +2349094562208 |
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