Note: (For Business Admin and Management
Project. You can as well change the case study to your locale)
ABSTRACT
This research work has the title.
‘Entrepreneurial Development and its impact in our economy’ this study was
embarked upon in order to know the problems militating against
entrepreneurship, its source of finance and the roles entrepreneurs play in
Eboyi state as a test case.
A good number of works already carried out
were reviewed. In order to achieve the set objectives, care was taken in
collection of relevant data, using primary and secondary method of data
collection such as interviews, questionnaires administration, personal
observation and experiences.
Target population was appropriately segmented
into sample – size. The researcher tried as much as possible to state the
entrepreneurial developments and its impact honour economy bearing in mind the
importance of the study.
The data gathered which were subsequently
analyzed and interpreted, helped us to know the impact of entrepreneurial
development in our economy in the area of job opportunities, social amenities
and the like.Consequently, the researcher found out that entrepreneurship
attributes so much in our economy positively such as ;
-
enough produce
-
provision of employment opportunities
-
production for exportation
-
increase in our foreign exchange earnings.
-
Growth of small and medium scale industries.
The researcher concluded, sequel to the
result of the hypothesis tested which proved true entrepreneurship encourages
large- scale production.
Finally, the researcher recommended that the
government should provide and keep proper watch the entrepreneurs as checks and
balances. There should be increase in the proper utilization of credit
facilities to enhance the growth of entrepreneurship in Eboyi state, and the
like.
TABLE OF CONTENT
CHAPTER ONE
INTRODUCTION
1.1
Background of the study
1.2
Statement of the problem
1.3
Purpose of the study
1.4
Scope of the study
1.5
Research questions
1.6
Research hypothesis
1.7
Significance of the study
1.8
Limitations of the study
1.9
Definition of terms.
References
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1
Meaning and concept of entrepreneurship
2.2
History of entrepreneurial development in
Nigeria.
2.3 Economic effect
of entrepreneurship in Nigeria.
2.4 Impact of
entrepreneurial development in Ebonyi state
references
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3:1
Research design
3.2
Area of the study
3.3
Population of the study
3.4
Sample and sampling
3.5
Instrument of data collection
3.6
Validatiion of instrument
3.7
Reliability of the instrument
3.8
Method of data collection
3.9
Method of data collection
References
CHAPTER FOUR
4.1
Data presentation and analysis
4.2
Testing of hypothesis
4.3
Summary of results
CHAPTER FIVE
DISCUSSION OF RESULTS AND FINDINGS
5.1
Summary of findings
5.2
Conclusion
5.3 Implication of
the research findings
5.4Recommendation
5.5
Suggestion for the research
Bibliography
Appendix
CHAPTER ONE
INTRODUCTION
1.1
BACKGROUND OF THE STUDY
The worldwide economic depression of the early 80’s
caused a rapid deterioration of the Nigeria economy. The output shrank to an
all time local and commercial activities, which were consequently reduced,
leading to the loss of employment opportunities in the country. Therefore, by
the end of 1985, the unemployment situation in Nigeria had increased its
proportions and as such most Nigeria graduates were faced with hardship due to
unemployment in the country. This situation therefore calls for
entrepreneurship in Nigeria economy which also leads to entrepreneurial development
in the higher institution.
However, at this juncture a brief history of
entrepreneurship in Nigeria will give more insight on the study. Statistics
have it that Africa is the poorest and less developed continent in world. Many
state-owned enterprise in Africa were created when it was believed
that the fastest route to development occurred when the state took on the role
of entrepreneur.
Although Nigeria was at one time
characterized by such inefficiency, but has recently pursued entrepreneurship
encouragement policies. And the initial indications suggest that the policies
have been successful. In Nigeria, the state-owned enterprises traditionally
clogged business opportunities and restructure private entrepreneurs from
entering the market. However, in the mid 1980’s Nigeria abolished it’s
marketing board, which prevented entry into certain industries and it’s market
to competition from domestic entrepreneurs.
Although Nigeria is still ploughed by many
development problems preliminary evidence suggest a favourable response by the
private sector to the new entrepreneurial opportunities. Although there is only
limited consensus about the characteristics of entrepreneurship, the concept is
almost as old as the formal discipline of economics itself. Early 18th
century French economist named Richard Canadian first introduced the term
entrepreneur. In his writings he formally described the entrepreneur as the
agent who buys the means of production at certain prices in order to combine
them into new product. (Schumpeter, 1951) short after that the French economist
J. B. added to the Castilian definition by including the idea that
entrepreneurs has to be leaders. That an entrepreneur is one who builds a
single product organism. (Schumpeter, 1951)
The necessity of entrepreneurship for
productivity was formally recognized by Alfred Marshall in 1990. In
his famous practice principle of economics, Marshall ascertains that there are
four factors of production; Land, Labour Capital and organization. These factors
are properly utilized by an entrepreneur. Thus entrepreneur creates new
commodities or improves the plan of producing an old commodity. (Marshall1994).
Hence early entrepreneurs were characterized
with production and manufacturing. In this case, the producers most often
started with small capital. Early entrepreneurship started with trade by barter
even before the advent of money. However, modern entrepreneurship in Nigeria
started with the coming of the colonial masters, who brought in their wears and
made Nigerians their Middlemen. In these way modern entrepreneurs was
conceived. Most of the modern entrepreneurs were engaged in retail trade or
sole proprietorship.
STATEMENT OF PROBLEM
When comparing entrepreneurship development
in Nigeria with other countries like America, Japan, China etc, we realize that
these countries started on the same platform as Nigeria started with trade by
barter and then advanced to their present state of economic growth. In fact
they are faster in their development of entrepreneurship than Nigeria. Why this
differences? This research work will find out to this effect the following:-
1) The
general problem encountered by entrepreneurs in Nigeria in establishing
business.
2)
To find out the basic orientation that should be given to Nigerian
entrepreneurs.
3)
To discover the rate of employment and find out the various business
opportunities that will be of help to the Nigerian economy through
entreprenurship.
4)
To also find how government program has been of help to various entrepreneurs
in the country.
1.3 PURPOSE
OF STUDY.
From all that has been mentioned above, it is
the aim of the study to find out the or know entrepreneurial benefits on the
following:-
-
Small scale business
-
Nigeria economy
-
To various employers and employees
-
To business organizations.
SMALL SCALE BUSINESS
The small-scale business will benefit
immensely, if the government is encouraging entrepreneurs in the country and
proper orientation on their obligation as an entrepreneur towards business is
given. Besides, an enabling environment should be created to enable them to
thrive, and also carry out their functions in the business environment. Thus
small-scale business in the country will grow if government can also provide
financial assistance in order to encourage the individual entrepreneurs.
NIGERIA ECONOMY
There will be a tremendous increase or
improvement in the Nigerian economy. Entrepreneurship will be of benefit to
industrial, household, firms and government. In the area of decision making,
organizing the organizational structures, and making out plans are
accomplished. Thus, this will go a long way in increasing job opportunities in
the country, which in turn will reflect on the country’s capital income, and
this will increase the rate of the G. N. P.
TO VARIOUS
EMPLOYERS AND EMPLOYEES.
Entreprenurship will be of importance to
employers and employees. In the areas of employers, it will enrich their managerial
skills, their vision, purpose and plans for the organization. Also in the area
of the employees, there will be job opportunities for the graduates and other
school leavers and this will reduce the rate of dependence ratio in the country
that is not solely relying on government to provide jobs. To this effect, the
government has introduced various programs under the N.D.E.so as to motivate
both the employers and employees. Under this program, the N.D.E. provides loans
to graduates for the operation of small-scale business.
TO BUSINESS
ORGANIZATIONS
Entreprenurship will also be of immense
benefit to business organizations because the Nigerian economy and its
environment will be an investing area for most investors due to capable skilled
workers that will handle the affairs of the organization or company without
involving much foreign counterparts on the job. Thus, will in turn create more
job opportunities in the country and this will increase the level of
organizational profitability ratio.
1.4 SCOPE OF THE
STUDY.
It is an obligation on the part of the
researcher to survey and evaluate the purpose of entrepreneurial development
and its benefits to the economy. The researcher will also find out the tactics
of an entrepreneur in the 1980’s, the causes and the brain behind their
failures and success. The researcher will also find out various economics
scholars who have contributed immensely to the growth of entrepreneur in the
world. The researcher will also find out more information about entreprenurship
in the country. However, the study of the researcher covers the purpose of
entrepreneur in the country particularly Enugu State.
1.5 RESEARCH
QUESTIONS
The following research questions were
imposed: -
i What is the essence of Entrepreneurship in
an economy?
ii What are the problems of Entrepreneurship?
iii Does organization benefit from entrepreneurs?
iv What has the government done for
entrepreneurs in the country?
1.6 RESEARCH
HYPOTHESIS
The following hypothesis would be tested: -
i
Ho – Entrepreneurs does not encourage large scale production in the economy.
Hi – The essence is to build up the nation’s economy to create employment and
to improve managerial skills.
ii. Ho-
Entrepreneurial problems are not only in the following level of Managerial
skill and poor infrastructure.
Hi – Entrepreneurial problems
in Nigeria are as follows: -Financial
Constraint, lack of managerial skills and poor orientation.
iii Ho-
Organizations benefits from entrepreneurs in organizational planning.
Hi
– Organization does not benefit much from entrepreneurs due to Inefficiency of
job performance.
iv Ho-
Government plans towards the provision of credit facilities is not encouraging.
Hi-
Government plans for entrepreneurs is to provide credit facilities to various
entrepreneurs in the country.
1.7 SIGNIFICANCE
OF THE STUDY.
The importance of the study cannot be
over-emphasized, since it is expected to affect our economy and also increase
the creation of job opportunities in the country especially in Enugu state.
However, this project when completed will be of immense benefits to the
following: -
-
The Nigerian economy in general
-
The small-scale industries
-
The general public
-
Creation of job opportunities in the country.
-
Also there will be increase in the managerial skills.
1.9
DEFINITION OF TERMS.
The following terms used in this study should
be taken to mean the following.
COMMODITIES
These are articles of trade
N.D.E.
National Directorate of Employment
NEW PRODUCT
These are new existing products in the market environment
G. N. P
Gross National Product
ENTREPRENEUR.
This is a person who starts a business and
takes the finance risks and personal risks involved in keeping the business
going.
Or
An entrepreneur is an individual agent who
buys means of production at a certain price in order to combine them into
new product.
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