Entrepreneurial Development Initiative And Micro Enterprise Sustenance
This study evaluates entrepreneurial development initiatives and micro enterprise sustenance in Awka metropolis. The objective of this study is to determine the entrepreneurial initiatives that can sustain micro enterprises, to investigate the extent entrepreneurial initiatives can reduce unemployment and to identify the challenges of entrepreneurial development initiatives on micro enterprise sustenance, the survey research method of investigation was adopted in this research work. The study used primary and secondary source of data, data for this research work were collected using questionnaires and personal interviews on micro enterprises, data collected were analyzed using descriptive statistics such as frequency distribution and simple percentages
1.1. Background of Study
In recent times entrepreneurs have been referred to as necessary pre-requisite to mobilize capital exploit natural resources and create markets to carry on trade (Harbison & myers 2004). Entrepreneurs are agents who perform a vital role in the economic growth of a country and are linked to the overall industrial development of a linked tothe overall industrial development of a nation, some of this characteristics are risk-takers, decision-maker, perseverance, organizers and planner, innovative function, and Gap filling ability.
However, successive government in Nigeria has introduced various entrepreneurial developments. These programmes include Family Economic Advancement programmes (FEAP) Structural Adjustment Programmes (SAP) Green Revolution Programme (GRP) National Economic Empowerment and Development Strategy (NEEDS) at national level, State Economic Empowerment and Development Strategy (SEEDS) at state level and Local Economic Empowerment and Development Strategy (LEEDS) at local government level, Poverty Alleviation Programme (PAP), and most recently, the National Poverty Eradication Programme (NAPEP). These programmes failed to achieve their objectives because of poor design; it was in realization of the scenario that the Federal Government of Nigeria announced the inclusion of entrepreneurial education in higher institutions of learning as a way of promoting entrepreneurial spirit among Nigeria youths to take up self employment.
This has led to the launching of programmes such as youths enterprise with innovation plan aimed at job creation and micro enterprises by encouraging band supporting aspiring entrepreneur youth in Nigeria to develop and execute business ideas (Flippo E 2008), micro enterprises is a relative concept because t varies among countries and within a particular country per time. For instance, a small or medium size enterprise in an advanced country like United State of America or Britain can be considered a large scale industry in Nigeria (Ogundele 2002). National Economic Reconstruction Fund (NERF) sees micro/cottage enterprise as the smallest carder in the level of business range with a maximum capital of N1,000,000.00 (one million naira) and maximum labour of ten. Small and Medium Enterprise Development Association of Nigeria (SMEDAN) helps to promote Entrepreneurship culture through initiative that build business confidence, positive attitude, pride in success, support and encouragement of new ideas, social responsibility, providing inter firm linkage and promotion of research and development. Finally, since entrepreneurship Nigeria is assumed to play a role of solving the problem of employment generation, facilitators of Economic recovery, National Development and poverty reduction stakeholders must come to agreement on entrepreneurial development initiatives because it is a harbinger of economic reconstruction and transformation (ihua, 2009).
1.2. Statement of Problem
The increasing incidence of poverty in Anambra State was in spite of the various resources and efforts exerted on poverty related and micro enterprises programmes and schemes, in the country. This suggests that the programmes and schemes were ineffective and ineffectual, despite the huge resource invested in them. It is either the government is playing politics to their initiatives y laying lip services to the programmes, thereby making its existence only in theory, or not supporting the plan with enough resources. However, some government officials misappropriate the limited resources, enriching themselves and entrepreneurship cannot be developing in isolation with the right policies and opportunities that serves as engine room for its growth.
It is a known fact that poverty constitutes an obstacle to rapid economic development in the state. Poverty is also directly responsible for the crimes in the city as well as rural areas and manifest itself in prostitution, thuggery, exposure to risk, corruption, robbery and fund (popularly called 419), street life, drugs and so n. This is as a result of unfulfilled aspirations result from unemployment, lack of adequate access to resources to start-up micro businesses (Osemeke, 2012).
1.3. Objective of the Study
The broad objective of the study is to examine Entrepreneurship development initiatives and micro-enterprises sustenance in Awka Metropolis, Anambra State.
The specific objectives of the study are:
- Determine the entrepreneurial initiatives that can sustain micro-enterprises.
- Investigate the extent entrepreneurial initiatives can reduce unemployment.
- Identify the challenges of entrepreneurial development initiatives on micro enterprises sustenance.
1.4 Research Hypotheses
For the successful completion of the study, the following research hypotheses were formulated by the researcher;
- H0: there are no entrepreneurial initiatives that can sustain micro-enterprises
H1: there are the entrepreneurial initiatives that can sustain micro-enterprises
- H02: there is no extent entrepreneurial initiatives can reduce unemployment
H2: there is extent entrepreneurial initiatives can reduce unemployment
1.5 Significance of the Study
This study will be of great benefit to micro entrepreneurs in their business, it will provide them with basic information about entrepreneurial initiatives and how they affect their business. It will give them full information on:- entrepreneurial initiatives and how micro-enterprises can be sustained. This research work will be to an extent provide the youth a path-way to entrepreneurship development by giving them full information on how it can help reduce unemployment. It will provide the government with full information on the needs and problems of entrepreneurial development initiatives for micro-enterprises. Finally, it will serve as a source of reference to readers and researchers who will be interested in writing a related topic.
1.6 Scope and Limitation of the Study
The study will cover entrepreneurial development initiatives and micro-enterprise sustenance in Awka Metropolis for the year 2016. The researcher encounters some constrain which limited the scope of the study;
a) Availability of Research Material:
The research material available to the researcher is insufficient, thereby limiting the study
The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.
c) Organizational Privacy:
Limited Access to the selected auditing firm makes it difficult to get all the necessary and required information concerning the activities.
1.7 Definition Of Terms
Entrepreneurship is an undertaking in which one is involved in the task of creating and managing an enterprise for a purpose (Ogudele 2004).
They are agents who perform a vital role in the economic growth of a country and are linked to the overall industrial development of a nation (Harbison & myers 2004).
It is a business range with a maximum labour of Ten (NERFUND).
1.8 Organization of the Study
This research work is organized in five chapters, for easy understanding, as follows
- Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.
- Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.
- Chapter three deals on the research design and methodology adopted in the study.
- Chapter four concentrate on the data collection and analysis and presentation of finding.
- Chapter five gives summary, conclusion, and recommendations made of the study
Summary, Conclusion and Recommendation
It is important to ascertain that the objective of this study was to ascertain entrepreneurial development initiative and micro enterprise sustenance. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of entrepreneurial development initiative and micro enterprise sustenance
This study was on entrepreneurial development initiative and micro enterprise sustenance. Three objectives were raised which included: Determine the entrepreneurial initiatives that can sustain micro-enterprises, investigate the extent entrepreneurial initiatives can reduce unemployment, identify the challenges of entrepreneurial development initiatives on micro enterprises sustenance. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 staff of selected micro and small enterprises in Awka, Anambra state. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made managers, secretaries, sales representatives and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies
The conclusion is that entrepreneurship development leads to job creation for Nigeria youth and stimulation of growth. It is no gain emphasizing the fact that entrepreneurship contribute significantly in areas of employment creation, promoting growth, industrial development, poverty alleviation and reduction of rural urban migration.
From the presentation and analysis of data, entrepreneurship development has proved to be a viable tool for economic development; hence the effort of government and other institution should be channeled towards the meaningful development of entrepreneurship practices. The study has show that entrepreneurship development leads to economic development, job creativity, economic sustainability, individual self reliance, improved standard of living better awareness and practice.
Therefore, Nigeria youth should exploit the various economic opportunities in the economy to their advantage. The unemployment youth can be assisted with credit facilities that will enable them set up small business rather than roaming around the street looking for white collar job. For a proper and sustainable entrepreneurship development the federal government and indeed other tiers of government in Nigeria should provides the enabling environment for the activities of entrepreneurs like provision of infrastructures, enacting and formulating of laws and policies that will aid entrepreneurship development in the country
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