EXAMINATION OF THE PROBLEM AND PROSPECTS OF ENTREPRENEURSHIP DEVELOPMENT IN ANAMBRA STATE
(A CASE STUDY OF AGUATA LOCAL GOVERNMENT AREA)
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
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
Review of related literature
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
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
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
Discussion, recommendation and conclusions
5.1 Discussion of findings/ result
5.3 Implications of the research findings
5.5 suggestions for further research
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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