EXAMINATION OF THE PROBLEM AND PROSPECTS OF ENTREPRENEURSHIP DEVELOPMENT

(Business Administration and Management)

EXAMINATION  OF THE  PROBLEM  AND  PROSPECTS    OF  ENTREPRENEURSHIP  DEVELOPMENT  IN  ANAMBRA  STATE

(A CASE  STUDY  OF  AGUATA LOCAL GOVERNMENT  AREA)

ABSTRACT

The  topic  is  examination  of the problem  and  prospect  of  entrepreneurship  development  in Anambra  state  under  a  case  study  of  Aguata  local  government  area.

        The  purpose  of the  study  is  to  determined  the  problem  associated  with   entrepreneurship development,  the  contribution  of  entrepreneurship  to  economic  development  etc.

        The  scope  of the study is  base  on  Aguata  local  government  area,  were  as  the   population  of  he  study  is  eighty  which  was  randomly selected.

        Thus  the  instrument  use  for   data  collection  includes  research.  Question.  Observation and  interview  method. To  analysis  the  data  collected  chi – Square   method  was  used,  however  sum  of the  finding  made  by  the research  includes  must  entrepreneur   business  suffered  set  back  as  a result  of  adequate  capital . 

The  also  lack  adequate support  from  he  government.  Must  business  operate  under  sole  proprietorship.  Employment  are  generates  through   entrepreneurship  business.

        In  the  other  hand  sum  of he  recommendation  include, government  should  assist  an  entrepreneurship in terms  of  finance/  resources. The  business  should  manage the  available  resources  effective  and  efficient  so as  to  avoid  Liquidation.

        Finally  government  should  endeavor to  encourage  the  generally  public   especially  the graduate  who has  no work  (employment) to  start  a  small  business.

        There after, the  researcher concluded  that an  entrepreneurship  business  can  not  operate  without  problems,  however  effort  should  be  put  to  minimum  the  problems.

TABLE OF CONTENTS

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  question                                             

1.6         Significance  of the study                            

1.7        Limitation  of  the  study                                      

1.8        Definition of  the  terms                                       

CHAPTER TWO

 Review of related literature

2.1  Introduction                                                   

2.2  History of Aguata L.G.A                                 

2.2 Scope  of  entrepreneur                                 

2.3 Characteristics of successful entrepreneur         

2.4 Junction of entrepreneur                                        

2.5 Basic factors entrepreneur should consider before embarking on any business                

2.6 Sources of fund available   to an entrepreneur 

2.7 problem  of Nigeria entrepreneur                     

2.8 Printed of entrepreneurship in Aguata L.G.A      

CHAPTER THREE 

Research design and methodology 

3.1 Research design                                            

3.2 Area of study                                                       

3.3 Population of the study                                  

3.4   sample  and  sample  techniques                   

3.5  source  of  data                                           

3.6  validation  of  the  instrument                        

3.7  reliability  of  the  instrument                                 

3.8  instrument   for  data  collection                     

3.9  method  of  data  analysis                                 

CHAPTER FOUR

Data  presentation  and  analysis  chi  -  square  ad  table  were  used

4.1        Presentation and  analysis                            

4.2         Testing  of   hypothesis                                      

4.3        summary  of  results 

Chapter five 

Discussion, recommendation and conclusions 

5.1   Discussion   of findings/ result                               

5.2 Conclusions                                                  

5.3 Implications   of the research findings              

5.4 Recommendations                                                 

5.5 suggestions for further research                      

        Bibliography 

        Appendixes             

CHAPTER ONE

INTRODUCTION 

1.1       BACKGROUND OF THE STUDY

The entrepreneur   plays  a vital  role  in the process  of  economic  growth  and  development. 

Iwu  Eze A. (1986) in a paper  presented  in on  entrepreneurship  development  in  Nigeria,  said  that  a  entrepreneur  is a  contractor  an  organizer  of  an  enterprise  for  the  public  a resourceful person  with  a dream.  entrepreneur   are  bold  men  and  woman  who  have  initiative and  the ability  to  lead,  manage and   take  the  consequences. They are  men  of  action,  risk  takers,  missioners,  creative  and  highly  respected of their  ability  to  effectively  and  efficiently  concubine   the  functions  of  management  to  achieve  the  goals. 

        He   also  noted that  during  colonial  period only  few   of  Nigerians  could  boast of personal or  family capital  to start  off  any  meaningful  business  and  hence  the  next    place  of  call for  business  and  financial  was bank.  It  is  a  well  known  flat that  banking   operations  during  the   colonial were  highly  and  sparsely  limited   urban  centers. The bank  at that  time  existed  to  serve  internets  of the colonial  civil  servants  who  had  appreciated  income  to  warrant   banking  transaction  Nigerians who  had  no  collaterals or  big  financials  to  guarantee their  loans  could  not  help  on  banks to  stat off  any business.

During  the  colonial  era the  Nigerian  business  seen  was  dominated even at the  grassroots  lends   by  inclines, Greeks,  Ghanaians,  Sierra Loninas  and  others. 

These  foreign  nationals  had  a better  exposition  from the  Nigerians  and  with  this  advantages,  it  was  easy to  dislodge  them  when  the  colonials  left the scene  in  1960. then, in  other  to  give  Nigerians  an  opportunity  in  participating  and   shaping  their  country economic  future  introduced  indigenization  and  enterprise  promotion  dance  of  1972  and  it’s  revision  in  1977. the  objective  was  to  foster economic  self  reliance  and  maximize  external intervention  in politics.

       

Against,  the  national  development  plans were  introduced  and  also in  July  1986   SAP  (structural  adjustment  programme)  was  introduced . entrepreneurship  constitutes a  vital  engine  in  the  economic   growth  and  development   of  nations  including.

Nigeria  because  it  helps  in the stimulation  of   indigenous entrepreneurship,  leads to  the  transformation  of  traditional  industry  create  employment  opportunities,  generates   incomes  ( locally  and  externally) contributes  to  regional  activity and  co – operation  etc..

According  to  Ani  N.B  ( 1999,5 , 7)  said  that entrepreneurship  started  when  people  produced  more  products than  they  needed  and  a  such ,  had  who  also  these  surpluses  with  others  who  also  wanted  to  dispose  of their  surpluses . for  instance ,  if  a  black  smith  produced  more  hoes  than  he  needed   he  exchanged the  surplus he  had  with  what  he  specialization . this  process  is  known as trade  by  barter  before  the advent  of  any  form  of  money.

Modern  entrepreneurship  in  Nigeria  started  with  coming  of the  colonial  masters  and  during  the  era,  Nigeria  was  not  their   own  masters .  an  entrepreneur  often  needs  starting  capital,  which  is  normally small  and  derived  from  personal  savings  or  from  family   sources 

Concrete  attempts  at  encouraging  the growth  and  development   of entrepreneurship  have  led  to  the  establishment  of some  government  agencies  as  industrial  development  (I.D) ,  Small scale  industry  corporation[S S I C]  Nigeria  bank  for  commerce and  industries  [N B C] , national  economic reconstruction  fund  (NERFUNA)  directorate  of  foods,  roads  and  rural  development [DFRN]  etc. 

All  these  have  been  made  to  ensure the  substance  and  growth  of  small  and  medium  scale  enterprises  in  the country.

1.2       STATEMENT  OF  THE  PROBLEM

Generally   in  our  society  there  are  exist    of   several  business  enterprises in  which Aguata is  not exceptional  in  terms  of  this  small  nature  of  business  in the  community. Thus  disparts  the  growing  nature of  small  scale  business   enterprise  in  Aguata  there  are  problem  needed to  be  solve  by  the  researcher   in  course  of  this  study  (is  confronting the  business  activities)  which  has  to  do  with  problem  of  financing   of this  small  scale  business  enterprises, as  well  as  the  problem  that  relet to  management  of the  available resource  in the organization  which  neccestate   to the  liquidation of most  small  business  enterprise,  and  finally,  the  problem  that  has  to do  with  proper  decision  making  on the day to  day  business  activities.

        The  short  listed  problems  neccestate reasons  for  the study

1.3       PURPOSE  OF  THE  STUDY 

 The  purpose  of this study  is  to  find  out  the  following

a.  To  determine  the  various   enterprise  and  their  activities  in  the  area of study. 

b.  To  examine  the  nature  of the  management  practices and their  sources of  fund.

c.  To  determine  area  of  government  assistance  and  to  pin point  area  there  assistance  is  lacking. 

d.  To   determine  major  problems  countered  by  these  entrepreneurs in  Aguata  L.G.A

e.  To  make  recommendation  based  on the findings  which  will  be  great  help  to other entrepreneur  and  new  aspirants into the  business

 

1.4       SCOPE OF THE  STUDY

This  research  intends  to  examines  the  problems  and  prospects  of  entrepreneurship  development  in  Aguata   local  government  area.

This  study  will give  a  broader  view  of  problems  and  prospects  of   entrepreneurial  development  in  this  area  and  to  make  recommendation  of  findings.

 

 

1.5       RESEARCH  QUESTIONS

In  order  to  solve  the research  problems, the  following  research  questions will  be  asked: 

a.  What  is the nature and  extent of government   control  assistance  over  entrepreneurial business?. 

b.  What  problems  do entrepreneurs  encounter  in  setting  up  their  business ?

c.  What  are  the  various types  and  activities  of  entrepreneurial  business  in Aguata? 

d.  What  are ht prospects of entrepreneurial  business  in  Aguata?  

1.6       SIGNIFICANCE OF THE  STUDY 

  Irrespective  of the  role  of  entrepreneurs  in  economic  development  of  Nigeria ,  enough  has not  been  done  in terms of  educations  awareness and  finance  assistance.

The  study  is of  great  important  to  entrepreneurs as  a guide in business,  in addition   the  study  will as  well  serve  as literature  for  further  studies  and  will  serve  as  a  useful  guide  in  entrepreneurship  ,  the  policy   makers  in  business  organizations  will  find  it useful  also  in  making  decisions. 

        In  addition,  it  is  expected  that  the in finding  will  help  to  bridge   the  gap  that  may  exist  or  may  have  existed  and  to  make  entrepreneurship business  more  effective  and  efficient  in  the case of  carrying  out  the business  activities 

 

1.7       DEFINITION  OF  TERMS

For  easy  and  concise  understanding of this  work, it  is  necessary  that  vital  terms  be  defined .

a.  Entrepreneur:  An  entrepreneur  means   a person  who  starts,  organize a  commercial  enterprise  especially one  having  financial  risk  Meredith  et al ( 1991) looks  as  an  entrepreneurs  an  evaluate  business  opportunities gather the  necessary  resources of  take  advantages of  their  and  initiate  appropriates  action  to  ensure  success and  he  is  a risk  taker. 

b.  Entrepreneurship  development:  This  is  the  coming  into  existence  on  society  of the  class   of individuals,  who  are  not  limited to  pace  odds.

c.   Small  scale  business:  Ejiofor   [1989:71]  defines  small  scale  business  as  those  enterprises  that  have  relatively  little  capital  investment, that  produce  in small  quantifies  and  as  a result control  a  small  share  of  market  that  employ  not  more than  fifty  (50)  workers and  in  which  management  marketing  and entrepreneurship  functions  are used  in the proprietor. 

d. Management,  according  to  Akapla(1990:3) management  is  defined  as  process  of  combing and  utilizing of  an  organization  inputs  [men,  materials  and  money]   by  proper  planning,  organization , directing  and  controlling  for  the  purpose of  producing  outputs  [good  and  services]  desires by  customers to  that  the organizational  goals  or  objective  are  accomplished. 

e.  Indiguzation:  Ejiofor  [1989:26]  indigenization   is the  mass  transfer  of  ownership  and  control  of  economic  organization  from  foreigners  to  nationals. It  is  a situation  where  a deliberate effort  is  made with  a back up of  regulation to  so  transfer  proprietary interest  of man. 

f.  Planning:  Planning can  be  defined  as  a process which  managers visualize and  determine  in advance,  the  objectives  of an  enterprise  or  organization  and  select future  cause  of action for  their  accomplishment.

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