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INTEREST AND PERCEIVED CHALLENGES IN SMALL SCALE ENTREPRENEURSHIP DEVELOPMENT AMONG BUDDING PROFESSIONALS IN HOPSITALITY INDUTSRY

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Product Category: Projects

Product Code: 00009549

No of Pages: 77

No of Chapters: 1-5

File Format: Microsoft Word

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ABSTRACT

The study investigated the interest and perceived challenges of entrepreneurship development in hospitality industry as perceived by undergraduates of tertiary institutions in Abia State. The study was carried out primarily through the survey method  in three higher institutions in Abia state,  namely Michael Okpara University, Abia State University and Abia State Polytechnic. The study had population size of 80 out of which a sample size of 67 was realized using Taro Yamane formula at 5% error tolerance and 95% level of confidence. Instrument used for data collection was primarily questionnaire .sixty seven copies of  questionaires were administered to sixty seven undergraduates sampled from the three institutions. Result revealed constraints

that hinder young people from starting and running a business, and at the same time incentives that makes starting a business a viable alternative for young people for young people in Abia state. Chi-Square statistical tool was used to test the hypotheses using . The study however recommends that , private sector and NGOs need to strengthen the existing empowerment programmes that are geared towards encouraging entrepreneurs to identify opportunities that exist within the Nigerian business environment, Promotion of enterprise education is the heart of any youth entrepreneurship policy, raising awareness and familiarizing young people with entrepreneurship in hospitality as a valuable career path.






TABLE OF CONTENTS

Cover page                                                                                                         i

Title page                                                                                                            ii

Approval page                                                                                                    iii

Certification                                                                                                       iv

Dedication                                                                                                          v

Acknowledgment                                                                                               vi

Table of content                                                                                                 vii     

Abstract                                                                                                              viii

 

CHAPTER ONE:

 INTRODUCTION

1.1     Background of the study                                                                          1

1.2     Statement of research problem                                                                6

1.3     Objectives of the study                                                                            7

1.4     Research question                                                                                    7

1.4.2 Research Hypothesis                                                                                8

1.5     Significance of the study                                                                         8

1.6     scope of the study                                                                                    9


CHAPTER TWO:

 LITERATURE REVIEW

2.1     Conceptual Framework                                                                            10

2.2     Theoretical framework                                                                             21

2.3     Philosophical Framework                                                                        26

2.4     Review of Empirical study                                                                      30

2.5     Summary of the Literature Review                                                          31

 

CHAPTER THREE:

 RESEARCH METHODOLOGY

3.1     Research Design                                                                                      32

3.2     Area of Study                                                                                           32

3.3     Sources of Data                                                                                        35

3.4     Population of the Study                                                                           36

3.5     Sample Design and Determination of Sample Size                                 36

3.6     Methods of Data Collection                                                                     40

3.7     Method of Data Analysis                                                                         41

CHAPTER FOUR:

DATA PRESENTATION AND ANALYSIS

4.1 Data presentation                                                                                         42

4.2 AnalysisBased on Research Question                                                          43

4.3 Test of Hypothesis                                                                                       52

4.4 Summary of Findings                                                                                   59

4.5 Discussion of Findings                                                                                 60

 

CHAPTER FIVE:

 CONCLUSION AND RECOMMENDATIONS

5.1     Conclusion                                                                                               62

5.2     Recommendations                                                                                    63

References                                                                                                          64

 

 

 

  

 


 

CHAPTER ONE

INTRODUCTION


          1.1          BACKGROUND TO THE STUDY

Entrepreneurship is considered as an important and useful avenue of generating income for young people to enhance employment and creating job. Youth entrepreneurship is viewed as an alternative way of assimilating youth in the mainstream labor force and alleviating poverty. Entrepreneurship can unleash the economic prospective of youth people. According to Chigunta (2002), self-employment, taking youth into the economic mainstream, addressing socio-psychological problems and crime coming out of joblessness, developing new expertise, encouraging creativity and flexibility, rejuvenating the local community by supplying valuable goods and services, and making young entrepreneurs receptive to new economic opportunities and trends are the main reasons for the importance of inspiring young entrepreneurs. Entrepreneurship can be a source of creating jobs and economic drive, and can advance the livelihoods and economic independence of youths in developing countries. Apart from that, entrepreneurship is an innovative way to generate income, to be self-sufficient, to earn a living, and to care for oneself (Maxwel, 2002). In order to reduce youth unemployment, one of the major challenges of Nigeria, the need for employment creation efforts focusing on youth is undeniable. So far my knowledge goes, very few studies have been conducted from the perspective of motivating young people to engage in entrepreneurial activities. There is also a general lack of in-depth research and concrete findings on motivating and identifying start-up barriers of youth entrepreneurship. So, this study is an attempt to address this gap. The study attempts to provide a picture of youth entrepreneurship about concrete barriers and incentives to youth enterprise start-ups in particular. In this context, we examined the key challenges, constraints and deficiencies that obstruct young of Bangladesh from starting and running a successful business and at the same time the study identified the motivators, initiatives, and measures to improve the situation. It is hoped that the findings of the study will encourage policy debate on the issues that foster or impede youth entrepreneurship and the policy measures that may facilitate youth in starting and running their own business, Moreover, this study will contribute to the existing works of youth employment providing an update. Hence, the present study also serves a directory of initiatives, programs, and instruments to benefit the practitioners and policy makers in the field of youth employment, youth entrepreneurship and development of SME.

Youth can be defined as transition period of an individual from childhood to adulthood. There are also differences of age limit among some Asian countries, which are as Bangladesh (18-35); India (15-34);Pakistan(18-30); Srilanka (15-29); Malaysia (15-29);Nepal (15-40); Singapore (15-30); Hongkong (10-24)etc. (Sutradhar, 2005). With a view to examining youth entrepreneurship and scrutinizing and assessing policies intended to promote it, there is a necessity of youth entrepreneurship definition. But, there is a lack of widely acceptable definition of “entrepreneurship”, “entrepreneur” or “youth entrepreneurship” in the available literature yet. Accordingly, entrepreneurship isa set of actions and an entrepreneur is someone who undertakes these actions (Schnurr & Newing 1997, citedin Chigunta, 2002). According to Lewin (1941),entrepreneurship can be defined as “practical application of enterprising qualities, such as innovation, creativity, and risk-taking into the work environment(either in self-employment or in small start-up firms),using the appropriate skill necessary for success in that environment and culture”. Entrepreneurship is something instinctive, rather than something that can be learned. Entrepreneurship is the realization of an opportunity to create value, and the process of acting on this opportunity, which may or may not indicate to form a new entity. While the terms such as innovation and risk taking in particular are typically related with entrepreneurship, but are not essential to identify them(Hedge & Sidh, 1960).

The hospitality industry is a broad category of fields within the service industry that includes lodging, event planning, theme parks, transportation, cruise line, and additional fields within the tourism industry. The hospitality industry is a multibillion-dollar industry that depends on the availability of leisure time and disposable income. A hospitality unit such as a restaurant, hotel, or an amusement park consists of multiple groups such as facility maintenance and direct operations (servers, housekeepers, porters, kitchen workers, bartenders, management, marketing, and human resources etc.).

Usage rate, or its inverse "vacancy rate", is an important variable for the hospitality industry. Just as a factory owner would wish a productive asset to be in use as much as possible (as opposed to having to pay fixed costs while the factory is not producing), so do restaurants, hotels, and theme parks seek to maximize the number of customers they "process" in all sectors.

Hospitality industry is one of the leading industries in the world; It contributes to prosperity creation and further economic development of a country; it covers hotel, resorts, and travel as well as restaurant businesses. These services business are mutually depend increase in tourism will ultimately lead to improvement in resorts, restaurants, hotel including travel industries. Hospitality Industry refers to the companies or organizations which provide food and/or drink and/or accommodation to people who are “away from home”. They range from five star hotels to the food vendors and road side food services (mama put).

Nigeria as one of the most developing Nation of the world and is faced with myriad of problems and harsh realities which includes poverty, unemployment, conflicts and diseases. These situations pose great challenges to the very existence of individuals in most developing nations thereby calling for the training of educated man and woman who can function effectively in the society in which they live. Available information by National University Commission (NUC) (2004) reiterate the massive unemployment of Nigerian Universities graduates in the country. This problem is said to be traceable to the dis-equilibrium between labour market requirement and lack of essential employable skills by the graduates. This obvious critical skills gaps inhibit the development of youth and entire nation.

More than half of the Nigerian population are under the age of 30 according to the National Population Commission (2001), therefore it can be asserted that the economy of Nigeria is a youth economy. This reality leaves them without any meaningful means of sustainable livelihood. To make ends meet, they simply indulge in prostitution (both male and female, armed robbery and so on. (Osuala, 2004)

The youthful period which is very critical one has been noted as an essential time for training in Entrepreneurship, provides positive distractive alternatives from the self-destructive and aggressive behaviors that are frequently associated with adolescents and growing up (Woolfolk, 1998). This critical age however is the right time to teach them the concept of entrepreneurship to help them learn wealth creation. The question then is what is entrepreneurship? Entrepreneurship has been defined by various professions to mean many things since the middle age. Steinholf and Burgers (1983) define entrepreneurship as the process of creating values by pulling together unique package of resources to exploit opportunity. However, the summary of what entrepreneurship means will reflect the individual’s definers points of view.


          1.2          STATEMENT OF PROBLEM

Entrepreneurship is aimed at the overall training of an individual and university undergraduates for useful living. To benefit from this laudable programme, students are trained to acquire skills. But a clear observation by the researchers in the sample tertiary institutions is that some students have different perceptions of what constitute entrepreneurship challenges. Knowledge of entrepreneurship challenges especially as perceived by the university undergraduates is necessary for a successful entrepreneurship programme. Some of the challenges may include poor knowledge based economy, lack of relevant materials, and inadequate capital as well as lack of proper understanding of the appropriate characteristics needed for effective entrepreneurship to mention but a few. It is on this ground that this study set out to determine the interest and challenges of undergraduate students of tertiary institutions of Abia State in order to have up to date data to base the planning and implementation of appropriate entrepreneurship programmes.

 

          1.3          OBJECTIVES OF THE STUDY

The purpose of the study is to analyze specific interest and perceived challenges of small scale/entrepreneurship development in hospitality industry of youths and budding professionals in Abia state.

1.    To ascertain the incentives and stimuli that stimulate entrepreneurship development in hospitality industry in Abia state.

2.    To determine the barriers and constraints of entrepreneurship development in Abia State.

3.    To ascertain the effect of entrepreneurship education on the entrepreneurship development in Abia State.


          1.4          RESEARCH QUESTION

The following questions will guide the study;

1.             What are the incentives and interest of the youths on entrepreneurship development in hospitality industry in Abia state?

2.             What are the constraints and challenges of the youths on entrepreneurship development in hospitality industry in Abia State?

3.             To what extent do institution in Abia state engage in entrepreneurship education?

 

          1.4.1    RESEARCH HYPOTHESES

1.    There are no significant interest of the youths on entrepreneurship development in hospitality industry.

2.    There are no significant challenges of the youths on entrepreneurship development in hospitality industry.

3.    The higher institution in Abia state do not engage in entrepreneurship education.


          1.5          SIGNIFICANCE OF THE STUDY

This study is important to the world of knowledge and the youths/undergraduates in Abia state, for them to develop interest on entrepreneurship development.

It will also be useful to higher institutions in Abia state to understand the importance of entrepreneurship and inculcate entrepreneurship education into their various institutions.

This research will also be useful to the government of Abia state, it will help them to understand the challenges faced by youths and proffer ways to encourage entrepreneurship which will help eradicate the high record of unemployment in the state.

 

          1.6          SCOPE OF STUDY

This study is to investigate the interest and perceived challenges of small scale/entrepreneurship development in hospitality industry among youths and budding professionals in Abia State.

The study will cover, the selected institutions which includes, Michael Okpara University of Agriculture Umudike, Abia State University and Abia State Polytechnic.

 

 

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