Abstract
The research study was
designed to find out the problems that have been affecting the effect of
entrepreneurship on the growth and development of the Nigeria economy. Entrepreneurship
had had a stunted growth because of difficulties encountered by entrepreneur
getting loan from financial institution. In view of the purpose of study, the
simple descriptive survey design was adopted and a total number of 50
respondents from some selected small scale business in Nigeria were
randomly selected to get their responses based on the purpose of this study.
Findings of the study revealed that entrepreneurship help to provide speed and
accuracy to employment and help to fight crime among youth and also create more
job opportunities in the economy. It was recommended that government and top
management of public institutions should pay more attention to the need and
promotion of entrepreneurship in the society and also the study of
entrepreneurship should be largely introduced into higher institutions to
enable young school leaver to be confident in themselves to avoid crime in the
country.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Chapter One: Introduction
1.1 Background
to the study 1
1.2 Statement
of the problem 2
1.3 Research
Questions 2
1.4 Objectives
of the study 3
1.5 Statement
of Hypothesis 4
1.6 Significance
of the study 5
1.7 Scope of
the study 5
1.8 Limitations
of the study 6
1.9 Definition
of terms 7
Chapter Two: Literature Review
2.1 Introduction
10
2.2 History
of Entrepreneurship 12
2.3 The
Entrepreneur 12
2.4 Concepts
of Entrepreneurship and it’s link with
Economic
Development 14
2.5 Characteristics
of Successful Entrepreneurs 17
2.6 Corporate
Entrepreneurship 19
2.7 The Uses
and Source of Credit facility in
Entrepreneurship
23
2.8 The
Roles of an Entrepreneur in small Business Management 26
2.9 An
Entrepreneur is more than owner-manager
of
a Business Enterprise
29
2.10 Development
of small Business in Nigeria
32
2.11 Advantages
of small Business Ownership in Nigeria 34
2.12 Limitations
or Disadvantages of Small Business
in Nigeria 36
2.13 Major
contribution to Economic Growth 38
Chapter Three: Research Methodology
3.1 Introduction
39
3.2 Research
Design 39
3.3 Description
of Population of the Study 39
3.4 Sample Size
40
3.5 Sampling
Techniques 40
3.6 Sources of
Data Collection 40
3.7 Method
of Data Presentation 41
3.8 Method
of Data Analysis 41
Chapter Four: Presentation and Analysis of Data
4.1 Introduction
42
4.2 Presentation
of Data 43
4.3 Data
Analysis 43
4.3 Test of
Hypothesis 51
Chapter Five: Summary of Findings, Conclusion and Recommendation
5.1 Introduction
59
5.2 Summary
of Findings 59
5.3 Conclusion
60
5.3 Recommendations 61
References 63
Appendix I 64
Appendix II 65
CHAPTER ONE
INTRODUCTION
1.1
Background to the Study
Throughout
the theoretical history of entrepreneurship schools, from multiple disciplines,
in the social sciences have grappled with a diverse set of interpretations and
definitions to conceptualize this abstract idea. Over time, some writers have
identified entrepreneurship with the function of uncertainty bearing others
with the coordination of productive resources, others with the introduction of
Innovation, others still with the provision of capital.
British economists such as Adam Smith, David Ricardo and John Stewart will
briefly touch on the concept of entrepreneurship through the referred to it
under the broad English term of “Business Management.”
The
word entrepreneur is derived from the French capitalist defined it as a risk
taking Innovative Individual who established and manages a business of the
purpose of profit and growth.
The
contribution of small and medium scale business to the economy include
employment and income generation, thereby enhancing Gross Domestic product in
Nigeria, this will also clear the fact that not every new small business is
entrepreneurial or represent entrepreneurship.
1.2
Statement of Problem
The
effect and need to find adequate solution as the growth of the economy in
Nigeria is a matter that should be put aside by a mere wave of hands this is
one to the fact, the entrepreneurship has been discovered to be the effect to
the growth of the economy in Nigeria.
1.3
Research Questions
In
line with the above, the researcher’s problem in the research wishes to answer
are:
·
How viable can entrepreneur be on the
effect to the growth of the economy in Nigeria?
·
What are some traditional perspectives
existing regarding government policy and small scale or entrepreneurship?
·
What are the fears of investing on small
scale industries?
·
What causes failure to the growth of
entrepreneurship in Nigeria?
1.4
Objectives of the Study
The
sole objective of the study is to further expatiate on what has been said by
any economists, academicians, business managers, consultants and other
professional on the issues of entrepreneurship being an effect to the growth of
the economy in Nigeria.
The following are additional objectives are;
i.
To highlight how entrepreneur can be on
the effect to the growth of the economy in Nigeria?
ii.
To find out the traditional perspectives
existing regarding government policy and small scale or entrepreneurship.
iii.
To alienates the fears on investing on
small scale industries.
iv.
To find out the causes of failure to the
growth of entrepreneurship in Nigeria.
1.5
Statement of Hypotheses
Hypothesis
I
Ho: Entrepreneurship do not have a vital role to
play in creating a dynamic economy.
HI:
Entrepreneurship have a vital role to
play in creating a dynamic economy.
Hypothesis
II
Ho:
To be an entrepreneur is not more than
being an owner manager of a business enterprise.
HI:
To be an entrepreneur is more than
being an owner manager of a business enterprise.
Hypothesis
III
Ho:
Entrepreneurship has no effect on the
growth of the economy of Nigeria.
HI:
Entrepreneurship has effect on the
growth of the economy of Nigeria.
Hypothesis
IV
Ho:
That demands for collateral security has
no negative effect on small business management.
HI:
That demand for collateral security has
negative effect on small business management.
1.6
Significance of the Study
The
significance and relevance of the study is as important as one may have thought
of the main significance are:
a. The study will enlighten the public and
private sectors on:
·
The effect entrepreneurship had on the
development of the economy.
·
Ways and manners one can kick-start a
small scale business, thereby contributing to the economic development of the
nation.
·
Ways unemployment can be reduced by the
use of local raw materials.
b. To highlights various concerns, such like
the consultants, economists, business managers, government and academicians.
1.7 Scope of the Study
This
project will be limited to an entrepreneurship on effect for the growth of
Gross Domestic product in Nigeria, considering some selected regions in the
country and how it is a situation to the growth of the economy and contributing
to economic development.
To
this end, a critical analysis will be made on the roles of the entrepreneur using
strategies and practices as its impact on organizational performance in Nigeria
2009 – 2013.
For
the course of this study, the researcher used a sample size of 20 for effective
survey.
1.8
Limitations of the Study
This
study is indeed a thought provoking one which invariably means, every aspect of
entrepreneurship, all aspect of the economy should be exhaustively discussed
and well analyzed for the layman to understand and embrace the suggestions and
recommendation. But for the following reasons the hands of the research seemed
tied:
a. Time constrains
b. Finance
1.9
Definition of Terms
Entrepreneur:
These
are people who perceive profitable opportunities and willing to take risks in
pursuing them and have the ability to organize a business.
Entrepreneurship: This is learning the skills needed to assume the risk
of establishing a business.
Effects:
This
is an act of solving a problems and also finding solution.
Gross
Domestic Products (GDP): This is the total volume of
production in respective of the nationality
of the people who produced it in an economy in a year. It is the total
production of goods and services by both nation and foreigners living in a
country.
Business:
A commercial and industrial activities that provides goods and services to
satisfy and improve quality of lives.
Militate:
To have great force or
influence to prevent something.
Profer:
To offer something to
somebody.
Planning:
The process by which management determines how the
organization should be more, from its current position to its desired position.
Performance:
This
is the result of the employee’s effort in achieving the organization goal.
Decision
Making: This is the formulation of policies guiding or
governing the running of the business or organization.
Change:
This
is the planned effort to alter one or more point of an organization or business
in a systematic and logical manner. It means moving from the familiar to the
unknown.
Organization:
This
is the coordination of activities of a number of people and material for the
achievement of common goals.
Managements:
This
can operationally be referred to as the highest level of decision makers in
business. They formulate policies and procedures for achieving organization
goals.
Goals:
This
is the objective or desire which the organization strives to attain.
Technology:
Systematic application of knowledge to practical task in an organization.
Method:
The way a job or task is
carried out in an organization.
Participation:
The
act of joining in an activity that is taking lace in the organization what a
worker works.
Training:
The
development of a worker’s knowledge special skills and attitude for the purpose
of acquiring vocational or technical qualification which are needed to perform
a particular job or a series of jobs.
Resistance
to Change: It is the act of opposing any change
that is brought into an organization which the workers dislike.
Perception
of Change: The way
is which a worker organize and interpret their impression in order to give
meaning and interpretation to change.
Workers:
They
are the people who carry out certain duties or responsibilities in any
organization.
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