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Full Project – Development of entrepreneurship in Nigerian – problems and prospects

Full Project – Development of entrepreneurship in Nigerian – problems and prospects

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Click here to Get The Complete Research Project Chapter 1-5

Full Project – Development of entrepreneurship in Nigerian – problems and prospects

Click here to Get this Complete Project Chapter 1-5

CHAPTER ONE

INTRODUCTION

 

 

  • Background of the Study

The existence of strong and sustainable small and medium scale industries is considered the best option to improve the socio-economic status of any nation.  Entrepreneurship has been recognized as the engine of economic growth and development in truth, entrepreneurship development and its resultant creation of new ventures, innovations, and new start-ups in business are the sources of vitality and growth globally.

Hence, business which is regarded as the beacon stone and major catalyst for socio-economic development revolves activities of coordinating the factors of production to produce needed goods and services.  All this emphasizes the invaluable role entrepreneurship development play in enhancing the state of growth and economic advancement in any nation.

To this extent, there are examples of government initiatives aimed at promoting and sustaining entrepreneurship development in small and medium scale enterprises in order to:

  • Generate substantial employment opportunities
  • Stimulate effective mobilization of local resources, capital and skill, and
  • Encourage even development throughout Nigeria with the spread of SMES at the grassroots – all to make the nation economically self-reliant.

Unemployment is one of the striking phenomena that hinder the development of any nation. For example, in industrialized societies like Japan, the USA and others where the rate of unemployment is greatly reduced, the level of development can never be compared with those of Cameroon.  The rate of unemployment has increased geometrically as population increases yearly. For more than a decade now Nigeria has suffered the problem of unemployment in the labour market as more institutions turn out graduates in thousands into available job vacancies to absorb the economy. The outcome of all these tends to increase social vices in the society such as high cost of living, low standard of living, lower economic growth and development .

Currently, in Nigeria, there are numerous cases of armed robbery, kidnapping, killing here and there and above all political unrest that have, claimed many lives and destroy properties worth billion of naira.  The fact is that everyone looks up to government for employment rather than looking for ways of being self-employed and even creating employment for others.  This trend has been the major reason why the federal government has taken policy initiatives and directives to organizations such as Ministry of Labour and productivity of employment and other agencies with the responsibility of stimulating, supporting and sustaining entrepreneurship development with the sole aim of solving the problem of unemployment.

Besides, the Federal Government has taken the initiative to restructure the economy through re-engineering which means the building of entrepreneurial development courses in our tertiary institutions curriculum with the ultimate aim of enhancing the employability of students, empowering and improving their entrepreneurial resources.  The research aims at show casing entrepreneurship development as one of the instruments that if embraced will help in bringing about a breakthrough in our socio-economy development towards industrialization.

 

 

  • STATEMENT OF THE PROBLEM

In under developed and developing nations like Nigeria, the populace depends solely on government and large scale industries for employment.  The populace has failed to understand that even the multinational companies were one small scale enterprises.

In view of the impact of small and medium scale enterprises in improving the socio-economic condition of the nation, successive governments in Nigeria have given great attention to the concept of entrepreneurship development for its citizens but effort has remained a mirage or rather an illusion and unachievable dream.

Unexpectedly, entrepreneurship development in Nigeria is still beclouded with major challenges and setbacks which if overcome will enhance economic development in Nigeria. This research work is poised to investigate the problems and prospects of entrepreneurship development I Nigeria in order to enhance its potentialities and make Nigeria economically self-reliant.

 

  • OBJECTIVES OF THE STUDY

The study intends to achieve the following objectives.

  1. To determine the positive roles played by entrepreneurship development in Nigerian economy.
  2. To identify the problems of entrepreneurship development in Nigeria.
  • To proffer solutions to problems of entrepreneurship development in Nigeria.
  1. To identify the prospects of entrepreneurship development to the economic enhancement of Nigeria.

 

 

 

  • RESEARCH QUESTIONS

The following research questions were formulated to guide this research study.

  1. What role does entrepreneurship development play in the Nigerian economy?
  2. What are the challenges militating against entrepreneurship development in Nigeria?
  • What are the possible solutions to problems associated with entrepreneurship development in Nigeria?
  1. What are the prospects of entrepreneurship development to the economic enhancement of Nigeria?

 

 

  • STATEMENT OF HYPOTHESES

As a guide and to achieve the purpose of this study, the following hypotheses were formulated.

 

HO:    Creation of employment, utilization of resources and maintenance of competition are not the roles entrepreneurship development can play in the Nigeria economy.

 

HA:    Creation of employment, utilization of local resources and maintenances of completion are some of the major roles that entrepreneurship development plays in Nigerian economy.

 

HO:   Inadequate financial resources, incompetent management of available resources and poor state of the country’s infrastructural facilities are not the problems militating against the entrepreneurship development in Nigeria.

 

HA:    Inadequate financial resources, incompetent management of available resources, and poor state of the country’s infrastructural facilities are some of the problems militating against entrepreneurship development in Nigeria.

 

HO:   Establishment of training centres and introduction of entrepreneurship and other related courses in Nigerian higher institutions of learning are not the possible solution associated with entrepreneurship development in Nigeria.

 

HA:    Establishment of training centres and introduction of entrepreneurship development and other related courses to the Nigerian institutions of higher learning are the possible solutions associated with entrepreneurship development in Nigeria.

 

HO:   Enhancing regional economic balance and exploitation of untapped opportunities and promoting effective domestic production are not the prospects that entrepreneurship can enhance economic development in Nigeria.

 

HA:    Enhancing regional economic balance and exploitation of untapped opportunities and promoting effective domestic production are the prospects that entrepreneurship can enhance economic development in Nigeria.

 

 

  • SIGNIFICANCE OF THE STUDY

This study is significant in the following ways:

  • It is believed that it will be of tremendous benefit to young and new entrepreneurship that join the race newly. Hence, there will be a reduction in the level of unemployment. Also, since government shows great concern about entrepreneurship, it will serve as yard-stick to measure the performance of entrepreneurship in the country so far and formulate policies concerning the in order to further enhance entrepreneurship development.
  • It will reduce youth restiveness and engagements in political tuggery occasioned by unemployment.
  • It will conserve foreign exchange for the country as more people will be involved in producing goods rather than importing them.
  • It will enhance the exploitation of untapped industrial opportunities.
  • It will help firm create wide dispersion of industries in the society and therefore enhance regional economic balance.
  • It will promote indigenous technology.
  • It will aid in reducing rural-urban migration.
  • Small scale enterprise as labour intensive industry is likely to be consistent with employment and income distribution objectives.
  • Individuals and students will find it a useful reading and research material for further studies.

 

 

 

 

  • SCOPE OF THE STUDY

This study covered development of entrepreneurship in Nigeria: problems and prospects using selected enterprises in Akwa Ibom State as a case study.

 

 

  • LIMITATIONS OF THE STUDY

The study was limited by the following factors:

 

  • FINANCIAL FACTOR: Inadequate funds affected the way data were collected since the researcher had to travel long distance for the distribution of the research questionnaire forms.

 

  • TIME FACTOR: This affected the reduction in the size of the sample used for the study because, the researcher had less than two month to complete the study.

 

  • MATERIAL FACTOR: Shortage of relevant materials for literature review posed a great difficulty.

The study was limited to the information gathered from primary and secondary sources.

 

  • ORGANIZATION OF THE STUDY

In this research study, the researcher took a critical look on development of entrepreneurship in Nigeria: problems and prospects (A case study of selected enterprises in Akwa Ibom State).  The research work was divided into five chapters.

Chapter one deals with the background of the study, as well as statement of the problem, objectives of the study, research questions, statement of hypotheses, significance of the study, scope of the study, organization of the study and definition of terms.

Chapter two takes a look at the reviews of the related literature on the subject matter and contributions of different authors.

Chapter three deals on the research design and methodology, it presents the research design, population of the study, sample and sampling techniques, instrumentation, method/plan for data analysis and problems of data collection.

Chapter four takes care of the data presentation, analysis and interpretation as well as discussion of findings.

Chapter five encapsulates the summary of findings, conclusion and recommendations made by the researcher.

 

 

 

  • DEFINITION OF TERMS
  • ENTREPRENEUR: This is a person who habitually creates, innovates and builds something of recognizable value within perceived opportunities.

 

  • ENTREPRENEURSHIP: This is a process by which persons either on their own or inside organizations pursue opportunities without regard to resources they currently control.

 

  • INNOVATION: This refers to the introduction of new ideas or new ways of doing things.

 

  • PROSPECTS: This is the possibility that something will happen, especially something good.

 

  • ORGANIZATION: An organization can be defined as a group of people involve in carrying out specialized duties in a very co-ordinate manner with the aims of achieving set goals.

 

  • ECONOMIC GROWTH: This is a possible change in the level of production of goods and services in a country over a certain period of time.

 

RE-ENGINEERING: This is redesigning and building something in the form that is deemed righ

 

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