Abstract
The study specifically investigate
Effect of Formal Education on the Development of Entrepreneurship. A case study
of Etsako West Local Government Area Auchi, Edo State.
In conducting this study, three hypothesis were formulated to achieve the
stated objective. Data were collected
from secondary and primary sources. Questionnaire were designed, sorted presented
analysed, interpreted the development of entrepreneurship has significant
effects on the rural communities. Government should make sure that incentives
get to those who actually need them, and also give the amount that each
business owners ask for and distribute more power for the people without which
no significant progress can be achieved, Development actually rest heavily on
power generation and distribution. Government can do better by educating the
people to use the money for the purpose it is meant for and avoid diversion of
funds.
TABLE OF CONTENTS
Title page
Certification --- --- --- --- --- ---- --- --- i
Dedication --- --- --- --- --- ---- --- --- ii
Acknowledgement --- --- --- --- --- --- iii
Table of Contents --- --- --- --- --- ---- --- iv
Abstract --- --- --- --- --- ---- --- --- vii
CHAPTER
ONE: INTRODUCTION
1.1
Background to the study --- --- --- --- --- 1
1.2
Statement of the problem --- --- --- --- --- 3
1.3
Research Questions --- --- --- --- --- 3
1.4
Objective of the Study--- --- --- --- ---- --- 4
1.5
Statement of Hypotheses --- --- --- --- --- 4
1.6
Scope of the Study--- --- --- --- ---- --- 4
1.7
Significances of the Study--- --- --- --- --- 5
1.8
Limitation of the study--- --- --- --- ---- --- 5
1.9
Operational Definitions of Terms --- --- --- --- 6
CHAPTER
TWO: LITERATURE REVIEW
2.1 Concept of Education --- --- --- --- ---- --- 8
2.2 Meaning of Formal Education --- --- --- --- 8
2.3 Meaning of an Entrepreneur --- --- --- --- --- 9
2.4 Effect of Formal Education --- --- --- --- --- 12
2.5 An Entrepreneur as a Bearing Risk and
Uncertainty -- 16
2.6 Factors
That Motivate Entrepreneur --- --- --- 18
CHAPTER
THREE: RESEARCH METHOD
3.1 Research Design--- --- --- --- --- --- 21
3.2 Population of the Study --- --- --- --- --- 21
3.3 Sample/Sampling Techniques --- --- --- --- 22
3.4 Instrumentation --- --- --- --- --- --- --- 22
3.5 Methods of Data Collection --- --- --- --- --- 23
3.6 Method of Data Analysis --- --- --- --- --- 25
CHAPTER FOUR: DATA PRESENTATION,
ANALYSIS AND
DISCUSSION
4.1 Data Presentation --- --- --- --- --- --- 26
4.2 Data Analysis --- --- --- --- --- --- --- 32
4.3 Test of Hypotheses --- --- --- --- --- 32
4.4 Discussion of Findings --- --- --- --- --- 36
CHAPTER FIVE: SUMMARY,
CONCLUSION AND RECOMMENDATIONS
5.1
Summary--- --- --- --- --- --- --- --- 37
5.2 Conclusion --- --- --- --- --- --- --- 39
5.3 Recommendations --- --- --- --- --- --- 39
References
Appendix
CHAPTER
ONE
INTRODUCTION
1.1
Background
To The Study
In both the microeconomic and macroeconomic sector,
one of the critical measuring tools for economic growth and development is the
level of employment and employment opportunities opened to the people. It also help to
determine the per capital income which we can give insight about the standard
of living of the people.
Today, there are large number of employable
graduates and non-graduates roaming the streets unemployed. Reasons is not
unconnected with the fact that the employment opportunities in the public
sector which happens to be the largest employer in the country is so inadequate
that it cannot accommodate the teaming population of the skilled and unskilled
workforce, because of the government inability to have a visible plan for the
growing population. The private sector which was suppose to help, cannot make
up for the ugly trend. Most government policies and programmes armed at
reducing unemployment have been to no avail.
Studies have shown that a total shifts in both
orientation and effort to the concept and practice of entrepreneurship is the
remedy.
Stomper (1955) entrepreneurship is the basic
requirement for economic development in a free enterprise or mixed economy like Nigeria.
Entrepreneurship according to Anuoha (2007) is the
practice of starting new organizations or revitalizing nature organization,
particularly new business generally in response to identified opportunities
Entrepreneurship is often a different undertaking a vast majority of new
business fail. Entrepreneurial activities are substantially different depending
on the type of organization that is being stated.
Mamudu (2005)
sees an Entrepreneur as a person or group of person’s who are willing to search
act investment opportunities within his or her environment, establishment and
run an enterprise successfully. An entrepreneur will usually invest their own
capital in a business and take on the risk associated with the investment.
1.2 Statement of the Problem
In light of the general problem, this study would
investigate the under listed specific problems.
(1)
Knowing if the development of
entrepreneurship has any significant effect on the rural communities.
(2)
Examining if entrepreneurs are given any
adequate incentive to help develop rural communities.
(3)
Determining if there is enough infrastructural
development in the rural communities and also determining if there is enough
infrastructural development in the rural communities for the entrepreneurs to
thrive.
1.3 Research
Questions
The
research question are stated as follows:
(i)
How
true is formal education a tool for self employment?
(ii)
How
far is it true that formal education and Entrepreneurship are central to nation
building?
(iii)
To
what extent can we say that government policies and programmes have been able
to eradicate unemployment?
1.4 Objective
of the Study
(1)
To
find out if formal education enhance self employment.
(2)
To
determine if formal education and Entrepreneurship are central to nation
building.
(3)
To
assess the extents to which government policies and programme are central to
nation building.
1.5 Statement
of the Hypotheses
(1) Formal
education is not a tool for self employment.
(2) Formal
education and Entrepreneurship have not been seen as central to nation building
(3) Government
policies and programmes have not been able to eradicate unemployment
1.6 Scope
of the Study
The
scope of the study is intended to cover entrepreneurship development in Etsako
West and their environs in Edo
State. Its however
important that research of its type naturally should cover small scale business
in Auchi and environs and find out the general contribution to entrepreneurship
development. Therefore, the study we must face, the enterprise in the above
named and its contribution in the growth of entrepreneurship development in
these areas.
1.7 Significance of the Study
Though, much work might have been done in regard to
the effect of formal education of the development of Entrepreneurship within
the country. Nigeria
will not be out of place if this research adds more to existing literature.
Therefore, it is hoped that at the end of study, the findings will be of
immense benefit to both government and most of our teeming unemployed graduates
and non-graduate alike.
It is also the wish of the research to provide a
better and clear understanding of the concepts and practice of Entrepreneurship
so as to improve and qualities and skills of Entrepreneurs which reduce
the rate of unemployment and contribute
to nation building.
1.8 Limitations of the Study
The
limitations of this work are as follows:
Cost
of executing the study or project, Inadequate relevant text and journals for
references. Uncompleted questionnaires that are returned by some of the
respondents. Inadequate response by the prospective interviewer graduates,
non-graduate, skilled and un-skilled owners of small scale businessmen and
women within the area of study. Inadequate time for research and writing of
this work.
1.9 Operational Definition of Terms
Micro Economic:
This is a branch of economic focuses on explaining the economic behavior of
small units such as the individuals, households, individuals firms, individuals
market or industries.
Macro-Economic:
This on the other hand concentrate on the study of aggregate economic
activities. It looks at the economy as a whole rather than as individual unit.
Mixed Economy:
This is one in which resources are allocated partly through the decision of
private individuals or the private sector and partly through the decision of the
government or public sector.
Gross Domestic Product (GDP):
This could be defined as the total market of all final goods or services
produced in a country at a given time. normally a year.
Per Capital Income:
This is the national income of the country over the population of the country.
Education:
This is the process of educating or teaching to develop the knowledge, skills
or character of students.
Unemployment:
Okeke (1994) defined unemployment as a situation where there are people who are
willing and able to work, who are actually seeking for work but find no
employment.
Entrepreneur:
Is an individual who undertakes to supply goods and services to the market for
profit. This will usually invest their own capital in a business and take on
the risk associated with the investment.
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