CHAPTER ONE
INTRODUCTION
In this chapter
the research introduced the topic role of foreign capital in Entrepreneurship
development in Nigeria (A case study of Enugu state Metropolis). The
chapter is broken down into sub – headings. Background of the study,
statement of problem, purpose of the study, scope of the study, research
questions, research hypothesis, significant of the study. Definition of terms
and references.
The sub – heading are
discussed below.
1.1 BACK
GROUND OF THE STUDY
The current emphasis on
entrepreneurship development is informed by the protracted economic downtown
which has not only retarded economic growth but aggravated unemployment
situation in the country (Ugbaja,2001:22) Hitherto, everyone looked into the
government as the provider of employment opportunities. Many Nigeria did not
think of self determination as an alternative to government employment.
But the worsening unemployment situation currently playing the country
has changed this thinking, short of alternatives, many graduates and school
leavers as well as other Nigeria are now moving in quest of self
determination by launching themselves into various business venture (Eze,
1997:34).
In recognition of the
need of foreign capital to enhance entrepreneurship development in Nigeria, the
federal government has introduced has introduced a series of policy packages
that are designed to attract foreign investment in the Nigeria small and medium
enterprises sub – sector. In an attempt to diversify the economy and stimulate
foreign private enterprise development government agencies and private
institutions are liasing with international with international organization to
enhance the letters participation in different entrepreneurship
development activities in Nigeria (Onyishi, 2001.19). there are international
organization such as the international labour organization involved in
promoting small business and entrepreneurship in different part of the world
(Afolabi,2001:22). In addition to providing foreign capital these international
organizational also provide technical assistance for these African
countries. It is against this back ground that this study is set to examine the
role of foreign capital in entrepreneurship development in Nigeria.
1.2 STATEMNET
OF PROBLEMS
Entrepreneurship development at providing self – employment opportunities for
millions of unemployed Nigeria. However, this has not been effectively achieved
in Nigeria because of the following.
1. Inadequate
financing from local financial institution.
2. The lad of
foreign investment in the economy is low and cannot adequately provide foreign
capital to supplement the available domestic capital for entrepreneurship
development.
3. The
present of international organization through which foreign capital can be
channeled into the economy is low. All these constrain the repid growth of
entrepreneurship development in Nigeria.
1.3 PURPOSE
OF THE STUDY
The
purpose of the study are:
1. To examine
the nature of entrepreneurship development in Enugu state
2. To examine
the institutional arrangements development for entrepreneurship development.
3. To
determine the role of foreign capital in entrepreneurship
development
4. To
determine the extent of foreigners participation in entrepreneurship activities
5. To
examine the challenges of entrepreneurship development in Enugu state
1.4 SCOPE
OF THE STUDY
The scope of this
study covers the nature of entrepreneurship development and the impact of
foreign capital, in this regard, however the study is concentrated in Enugu
state.
1.5 RESEARCH
QUESTIONS
1. What is
the nature of entrepreneurship development in Enugu state?
2. What are
the institutional arrangement for entrepreneurship development?
3. What is
the role of foreign capital in entrepreneurship development?
4. To what
extent do foreigners participates in entrepreneurship activities.
5. What are
the challenges and prospects of entrepreneurship development in Enugu state?
1.5 RESEARCH
HYPOTHESIS
HYPOTHESIS ONE
Ho: Nigerian
entrepreneurship do not have access to foreign capital
Hi: Nigeria entrepreneur
have access to foreign capital.
HYPOTHESIS TWO
Ho: Foreign capital does
not contribute significantly to entrepreneurship development in Nigeria
Hi:
Foreign capital does not contribute significance
to entrepreneurship development in Nigeria
HYPOTHESIS THREE
Ho:
Foreign private investment does not enhance
entreperneurship development
Hi:
Foreign private investment enhance
entrepreneurship development
SIGNIFICANCE OF
THE STUDY
This study will be
useful as it will serve various purpose. Firstly, graduates and school –
leavers will be encouraged by this study to take the existing opportunities to
entrepreneurship development to be self – determining. In this way, they can
stop wasting their time waiting for non – existent jobs in the public sector.
Secondly, the study will enable all potential entrepreneurship understand the
challenges of entrepreneurship and how they can be overcome. Thirdly, private
institution government agencies and Nigeria businessmen with international
connections will also benefit from this study. They will understand from this
study the need for them to attract or bring foreigners into Nigeria to form
participation. This will be a very significant way of making foreign capital to
flow into the country for the purpose of entrepreneurial activities. Foreign
capital will enable the local entrepreneurs to acquire or procure adequate
equipments and infrastructures required for small business or entrepreneurial
operations.
Fourthly, the government
will also benefit from the study. The rloe of foreign capital in
entrepreneurial development can not be over emphasized. The government will see
in this study the need to enter into agreements with government of the western
and eastern Europe as well as the far east and American on the funding of
entrepreneurial programmes in Nigeria. Not only foreign government should this
involved but – National organizations. Fifthly, all well – meaning Nigeria will
also benefit from the study. This is because it will make them understand the
need for increased emphasis and exploration into entrepreneurial ventures and
how a sustained entrepreneurship activities will enhance industrial development
in Nigeria. Finally, the study will be useful for academic purpose. It will
provide useful data and information for all those who will carryout related
studies in the future. Besides, the research findings can provide the for
further studies.
DEFINITION
OF TERMS
Entrepreneur : this refers to any individual who creates
new business and manages it until it succeeds.
Entrepreneurship: this is the process of creating a new
business and managing it until it succeeds.
Business environment: this includes all the physical facilities,
regulation, opportunities and risk there in.
Venture capital: this is the funds which investment
institutions loan not for investment purpose.
Business – up capital: this is the capital needed for initial
take off of business. Business opportunities: this is a potentially profitable
event.
Innovative:
this is the development of a new product from an old one.
Department | Business Administration and Management |
Project ID Code | BAM0145 |
Chapters | 5 Chapters |
No of Pages | 60 pages |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2347043069458 |