ABSTRACT
This study examines the impact of entrepreneurship
development in a developing economy like Nigeria. It is the contention of
this research that entrepreneurship plays important role for moderate standard
of living and job creation to help the Nigeria industrial workers. The
data for this study are collected through the questionnaires, interview and
secondary method, however it is discussed extensively the background
information to the study, and it presents status and projection into the
future, the statement of problems, objective, scope, significance and the
benefits of the study. In this research, an examination is made on the relevant
and related literature review and the research methodology used for the study.
The hypotheses in this field were tested with the chi square statistics. A were
look and critical study is made in the analysis presentation and interpretation
of data collected through questionnaires, oral interview and discussion with
management staff. Finally, the findings of the study such recommendations like
the government should create an enabling environment for the operation and survival
of small scale enterprise in Nigeria and the government should grant incentives
to small scale business to boast their operation.
TABLE
OF CONTENT
Title
page………………………………………………………. i
Certification……………………………………………………. ii
Dedication
…………………………………………………….. iii
Acknowledgement
……………………………………………. iv
Table of
content………………………………………………. Vi
Abstract……………………………………………………….. v
CHAPTER
ONE: INTRODUCTION
1.1
Background to the
study…………........………………… 1
1.2
Statement of the
problem……………….......………… 4
1.3
Research
Questions…………………………......…….. 5
1.4
Objective of the study……………………….......……… 5
1.5
Statement of Hypotheses……………………………...... 6
1.6
Scope of the
Study……………………………….......… 6
1.7
Significance of the
Study……………………........……. 7
1.8
Limitation of the
Study………………………….......….. 8
1.9
Operational Definition
of Terms…………..................… 9
CHAPTER TWO: LITERATURE
REVIEW
2.1 Entrepreneurship Development....................................... 11
2.2 The Impact of Entrepreneurship Development on
Nigeria
Economy........................................................... 13
2.3 The Contribution of Entrepreneurship Development to
the Development of Nation............................................ 14
2.4 Causes of Entrepreneurship Failure............................. 17
2.5 Common Features of Entrepreneurs............................ 19
2.6 Objective of Entrepreneurship...................................... 20
CHAPTER THREE: LITURATURE REVIEW
3.1 Research Design.........………………………………… 21
3.2 Population of the study………………………………… 21
3.3 Sample/Sampling Techniques ………………………… 22
3.4 Instrumentation.................……………………………… 22
3.5 Method of Data Analysis…………………………….… 23
CHAPTER FOUR: DATA PRESENTATION ANALYSIS AND DISCUSSION
4.1 Data Presentation ………………………………..…….. 24
4.2 Data Analysis …………………………………….…… 25
4.3 Test of Hypothesis …………………………………….. 28
4.3 Discussion of Findings……………………………… 34
CHAPTER FIVE: SUMMARY, CONCLUSION AND
RECOMMENDATIONS
5.1 Summary………………………………………………… 36
5.2 Conclusion……………………………………………… 36
5.3 Recommendations……………………………………… 37
Reference
Appendix
CHAPTER ONE
INTRODUCTION
1.1 Background to the Study
Entrepreneurship practice in Nigeria predates the era of
translate slave trade. This is based on the belief that no manor community is
completely self sufficiency; one may have certain commodity or skills which
other do not have. For instance, one community may have a river full of fish,
the other a forest filled with animals thus they make an exchange, meat for
fish.
With further development, there was need to fix certain days for trading
and gradually, some persons who lack the skills of production made it appoint
of duty to specialize in buying from the producer who may be too busy to convey
their goods from one place to another and those in need of such items
In the past entrepreneurs in Africa were
men and women of modest education and little management skills, however,
through hard work and determination, the surmounted the hurdles placed on their
was by the colonialist and competed successfully with Indians, Lebanese and
other foreign forms. Today, Nigerians are better educated with more exposed to modern
technology and many have acquired respectable managerial experience.
The role of entrepreneurship in economic development more than just
increasing change in per capital output and income, it involves initiating and
constituting change in the structure of business and society. This is
accompanied by growth and increasing in output, which allows more wealth to be
divided by the various participants. Therefore this project, the impact of
entrepreneurship development in a developing economy using delta state as a
case study (some selected business) is aimed at finding out the contribution of
small scale enterprises to the economic growth and development of our country Nigeria.
According to Face and Scothmore (1990), the process of entrepreneurship
is recognizes as being at the heart of any economic development task and driven
by the motivation of individuals, who are seeking to satisfy their personal and
economic development is to create opportunities for personal fulfilment through
economic activities. This implies that, the policy-makers and entrepreneurs in
order to achieve economic reward and property.
The present situation of our economic (Nigeria)
when compare with what was obtains decade ago, gives an indication that Nigeria is fast
developing economically among other things, creation of employment
opportunities create condition which prove to be helpful in reducing the gap
between rich and poor. More so, entrepreneurship development has contributed
immensely to our economy by increasing local value, technological advancement,
and gross domestic product and nearer resources to the people.
This is more reason why government should out into consideration the
above topic in formation of new policy and new national low will allow the easy
running of small scale enterprise. It is knowledgeable that Nigeria expanding
commercially, agriculturally and industrially and many Nigerian students want
to be actively involved in business rather than passive observers, it is
therefore necessary that a study of the structure of small scale industries
should begin with some introductory remark on the appeal of economic
development as a necessary ingredient to economic policy in developing
countries which ours is not an exception.
Chel (1991) concluded that there has been a gradual increase in awareness
of the role of entrepreneurs in economic growth, various approaches being used
to explain motivations.
Form the forgoing it is clear that the entrepreneurship development is an
economic agent both born and made represent an enlightening perspective of a
country, entrepreneurs are generally committed and determined with the
qualities to survive, which represent a positive approach to development in
part with high level of self confidence therefore they can survive, grow and expand
our economy in Nigeria, if government can create an enabling environment for
their operations. It should be noted that in many developing countries
entrepreneurship development by and large has become synonymous with economic
growth and the reasons are not farfetched.
Indigenous ownership and control in strategic industries are essential in
order to maximize local relation of profit, increase the net contribution of
the national economy. Entrepreneurship development has the potential of
achieving independence autonomy through one’s own effort. The second desirable
virtue of generating employment for oneself and other both educated and
uneducated, is to allow free enterprise to flourish, competitive and perceive
the local needs and provide the opportunities for the creation of new ideas for
economic growth and development, in other words, it is seen as say of life that
enable people to take advantage of their own efforts.
1.2 Statement of the Problem
Individual have on their own responded to the new employment pattern by
taking personal control of their career through entrepreneurship. Through entrepreneurship the individuals or
society is fighting for employment opportunities. The problem here is to find
out how the individual or society has developed through entrepreneurship. In
view of this, students want to look at the impact of entrepreneurship
development in a developing economy.
1.3 Research Questions
Research question is transform into the following:
1.
Is the development of entrepreneurship important to a nation?
2.
How has entrepreneurship development increased the growth of
a developing economy?
3.
Why the government is at all levels not paying much attention
to entrepreneurship development?
4.
What are the entrepreneur’s possible challenges in the
development of a nation?
5.
Does entrepreneurship development contribute to a developing
nation?
1.4 Objective of the Study
Nigeria is blessed with great
natural and human resources. Yet on the whole her achievement in economic
sphere can be regarded as modest. It can be better if there is a clear marked
contract between poverty and potential endowment in Nigeria
unfortunately this is the pattern throughout the whole Africa,
striking contract between economic background and potentials for wealth.
Specific
Objective
The specific objectives of this research work are as
follows:
1.
To study the importance of entrepreneurship development in a
developing economy like Nigeria.
2.
To look at its possible contribution to the general economy.
3.
To look at the problems confronting entrepreneurs in Nigeria.
4.
To suggest possible solution to such problems confronting the
entrepreneurship development in Nigeria.
5.
To broaden people’s knowledge in their area of
entrepreneurship development in Nigeria
and the possible benefit of entrepreneurship skill.
1.5 Statement of Hypotheses
To achieve the objective of this research work, the following hypothesis
were formulated
(1)
Entrepreneurship development is not important to a nation.
(2)
Entrepreneurship development cannot increase the growth of a
developing nation.
(3)
The government at all levels does not pay much attention to
entrepreneurship development on to entrepreneurship development.
(4)
Entrepreneurship development does not contribute to a
development nation.
1.6 Scope of the Study
This research work impart of entrepreneurship development in Nigeria economic will be restricted to Edo state (some selected business). It is however
important that a research of this nature should conduct adequate coverage of
all small scale business in Edo state and even other state to find out the
general contribution of entrepreneurship development.
Therefore, the reason for restricting this research investigation to some
selected enterprise in delta state is because delta state like every other
state in the federation has contributed to the growth of entrepreneurship
development in Nigeria.
The specific areas covered in this research study are:
1.
Creation of employment opportunities.
2.
Rural development and growth.
3.
Encourage indigenous entrepreneurship.
4.
Contribution of value added.
5.
Utilization of local raw materials.
6.
Channel of trading.
1.7 Significance of the Study
The significance of entrepreneurship development in a developing economy
cannot be over- emphasized both in general and to academics. It involves more
than just increasing per capital income or output, it involves initiating and
constituting change in the structure of businesses and society. This change is
accompanied by growth and increased output, which allows more wealth to be
divided by various participants.
Entrepreneurship development assists in revitalizing areas of the inner
city; individuals in inner city area can relate to the concept and see the
possibility for changing their present situations.
1.8 Limitation of the Study
Number Of Factors
Militates Against This Study.
Inadequate
Co-operation: The co-operation of respondents were inadequate, the problem here were
inadequate, the here were encountered by the researchers visit to some of the
selected business, they either tell him the manager owner is not around or call
back again for the fact the wants or cannot attend to him when he is busy.
While in some other cases, was where the general citizen deliberately refused
to attend to the questionnaire therefore, making the exercise uninteresting and
difficult.
Time
Factors: Time
was also a great problem faced by the researcher. This project was combined
with the academic activities and thus made it quite difficult for the
researcher to devote enough in travelling to collect data and other materials
that were necessary for thee research.
Finally,
educational background also posed a problem to the study, as most of the
respondents possessed only the elementary educational qualification, as side
they could not respond to technical questions presented to them adequately.
With the
above, future researchers would find much easier if these problem are taken
into consideration with a view of finding prior solution to them.
1.9 Operational Definition of Terms
To enhance the reading and
understanding of this study, the following terms have been functionally defined
as follows.
Entrepreneur:
According
ILO, entrepreneurs are people who have the ability to see and evaluate business
opportunities to gather the necessary resources and to take advantage of them
and initiate appropriate action to ensure success.
Entrepreneurship:
Hisrich,
Peter and Shepherd (2008) defined entrepreneur as the process of creating
something new with value by devoting the necessary time and effort assuming the
accompanying financial, psychic and social risks and receiving the resulting
reward of monetary and personal satisfaction and independence.
Small Scale
Enterprise: Ekpenyong (1969) defined small
scale enterprise as those enterprise that have relatively little capital
investment, that produce in small quantities and as a result control a small
share of the market, that employ not more than fifty (50), workers and in which management, marketing and
entrepreneurial function are vested in the proprietor.
Development:
This can
be seen as the state of improving expanding or enlarging refining, it can also
be seen as a process in which something passes by degree to a different place
especially a more advanced or mature stage. Finally, it is a state at which
things are improving.
Developing
Economy: According to Craven (1984), developing economy
means the increase in value of an economy, ie, increase in output. It is
physical movement of economic workforce for the enlistment of a nation, in
other words, it is centred on productivities, technical progress, fallen
unemployment, firms buying new equipment and force becoming better educated.
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