- IMPACT OF MICROFINANCE INSTITUTION ON ENTREPRENEURIAL DEVELOPMENT IN NIGERIA A CASE STUDY OF IPAJA AREA (ALIMOSHO LOCAL GOVERNMENT)
- THE EFFECTS OF ENTREPRENEURIAL SKILL ON PRODUCT PORTFOLIO DEVELOPMENT (A STUDY OF MEDIUM SCALE ENTERPRISES IN LAGOS)
- THE ROLE OF MICROFINANCE BANK IN THE DEVELOPMENT OF SMALL SCALE ENTERPRISE (A CASE STUDY OF AFEMAI MICROFINANCE BANK)
- ROLE OF FINANCIAL INSTITUTION IN THE DEVELOPMENT OF SMALL SCALE ENTERPRISE (A CASE STUDY OF SELECTED SMALL SCALE ENTERPRISES IN ETSAKO WEST LOCAL GOVERNMENT AREA)
- RELEVANCE OF ENTREPRENEURIAL DEVELOPMENT TO SELF EMPLOYMENT OF OTM GRADUATES
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. Findings and recommendations were made most of the micro entrepreneurs have 2-5 workers working for them ad are basically and mostly into service business. There years of business experience are 1-3 years and most of them started their businesses through you-win initiatives, entrepreneurial initiatives help to reduce un-employment. Government initiatives such as NDEP,BOI YES and YOU-WIN programmes should be sustain to help in sustaining entrepreneurial development, consistent entrepreneurial training and support should regularly be organize for micro-entrepreneurs in order to fast-track and help them grow from strength to strength.
TABLE OF CONTENT
Title page i
Approval Page v
1.1 Background of the study 1
1.2 Statement of problem 3
1.3 Objectives of the study 4
1.4 Research questions 4
1.5 Hypothesis of the study 5
1.6 Scope of the study 5
1.7 Significance of the study 5
1.8 Definitions of the study 7
End of chapter reference
CHAPTER TWO : REVIEW OF RELATED LITERATION
2.1 Conceptual review 9
2.1.2 Entrepreneur 9
2.1.3 Entrepreneurship 10
2.1.4 Entrepreneurship Development 11
2.1.5 Sustenance 11
2.1.6 Micro Enterprise 12
2.1.6 Entrepreneurial Initiatives 12
2.2 Entrepreneurial Development Initiatives Sustenance 13
2.3 Entrepreneurial Initiatives and Micro Enterprise Sustenance 14
2.4 Challenges of Micro Enterprise Sustenance 14
2.5 Theoretical Framework 15
2.6 Empirical Reviews 16
Gap in Knowledge 18
2.7 Summary of related Literature
End of Chapter Two Reference 20
CHAPTER THREE: RESEARCH METHODS
3.1 Research design 22
3.2 Area of study 22
3.3 Population of the study 22
3.4 Sample size Determination and Sampling Techniques 23
3.5 Source of Data 24
3.6 Method of Data Collection 24
3.7 Validity of the Research Instruments 24
3.8 Reliability of the Research Instrument 24
3.9 Method of Data Analysis 25
End of Chapter Three Reference 26
CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Business Office Information 27
4.2 Line of Micro Business 28
4.3 The years of your business experience 28
4.4 Your enterprise started through these initiatives 29
4.5 The business you are handling is solely your own 30
4.6 You have other partners in your business 30
4.7 You are prompt in solving business challenges 31
4.8 You are faced with fund and Managerial skills challenges 32
4.9 Government/ NGO usually makes business environment good 32
4.1.0 Your business have employed a number of persons 33
4.1.1 You started your business through government programmes 34
4.1.2 Your business has helped a number of people started their own 34
4.1.3 Which of these challenges affect your business 35
5.1 Summary of findings 38
5.2 Conclusion 39
5.3 Recommendation 39
Limitations of the study 40
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 to the 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:
i. Determine the entrepreneurial initiatives that can sustain micro-enterprises.
ii. Investigate the extent entrepreneurial initiatives can reduce unemployment.
iii. Identify the challenges of entrepreneurial development initiatives on micro enterprises sustenance.
1.4. RESEARCH QUESTION
1. To know whether entrepreneurial initiatives can help to reduce unemployment.
2. To know to a very large extent how entrepreneurial initiatives can sustain micro enterprise.
1.5. HYPOTHESIS OF THE STUDY
H0: Entrepreneurial initiatives do not influence the development of micro enterprise in Awka Metropolis.
H1: Entrepreneurial and initiatives influences the development of micro-enterprise in Awka Metropolis.
1.6. SCOPE OF THE STUDY
The study will cover entrepreneurial development initiatives and micro-enterprise sustenance in Awka Metropolis for the year 2016.
1.7. 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.
1.8. DEFINITION OF TERMS
1. Entrepreneurship: entrepreneurship is an undertaking in which one is involved in the task of creating and managing an enterprise for a purpose (Ogudele 2004).
2. Entrepreneur: they are agents who performs a vital role in the economic growth of a country and are linked to the overall industrial development of a nation (Harbison & myers 2004).
3. Micro-enterprise: it is a business range with a maximum labour of Ten (NERFUND).
CHAPTER ONE REFERENCE
Agwu M.O and Eneto C.I ( 2014) Challenges And Prospects Of Smes In Port
Harcourt City, Nigeria. European Journal Of Sustenable Development 3 101-114
Harbison and Myers ( 2004) Entrepreneurs As Agent Of Change Of Economic
Change. Longman 2004.
Ihua ( 2009) Entrepreneurship, Economic Development And Reconstruction
Gethsemane Publishing, Enugu.
Osemekem (2012) Entrepreneurial Development Interventionist Agencies In
Nigeria. International Journal of Business and Social Science
Vol.3. No 8.