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Full Project – Impact of entrepreneurship development in Nigeria

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CHAPTER ONE

1.0 INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Enterprise states limitless present and reward for private enterprise and self employment. It is an economy that rewards creativity and hardwork (Ugbaja 1998;115) Nigeria is one of such economy. People are therefore self-determine in their approach to life every one seems to be thinking of what he or she can do with his or her hands or brain, since it is obvious that the since 1960n,the country’s development for all the people

Since 1960,the country ‘s development plan have land a great emphasis on public sector control of the economy (Eze 1997;12)we have a situation where the public /private sector mix has increasingly titled toward public sector domination. The trend has generally distinguished the government as a major investor in a let of business which otherwise should have been left to the private sector (Ike 1998;23) the net effect of this types of government participation in and control of business activities has been the emergence and general perception of the government as the provider of almost all that make life growth living, including employment. But today the situation is changing Bad economic management on the post leader’s wasteful attitude of the agricultural sector and private initiative has now given way to hunger, squator, diseased and mass unemployment among other (Okeke 1997;29)Nigeria appears to be currently finding the right path to a possible entrepreneurial rent .your in the 21^st century, Nigeria are now for led to stand a fresh re-awaking to the real challenges and realities of true nation hood. The new emphasis on self employment is understood to be in line with the above consideration. The unemployment situation yet Nigerians including Graduates into self denomination through self employment (Aluko, 1988;15) Graduates, and school learners are now realizing that government and the organized private sector enterprise are not ready to come to there and directly. Through paid employment short of alternative Nigeria are therefore launching themselves into various business venture (Ogudu 1977;15) the low literal level and general ignorance which pervade and cause a lot of bad attitude and malpractice within the Nigeria business environment would be seriously challenged and against the background that this study attempts to examine the challenges of entrepreneurship development in Nigeria

1.2 STATEMENT OF THE PROBLEM

The new emphasis on self employment is evidenced by the rekindled entrepreneurship in the country appears to be facing some serious constraint ,in the first instance people seem to lack the ability to perceive profitable business opportunities even as the opportunities come secondly, the seem to be unwilling to take risk on perceived opportunities for fear of losing their capital. Thirdly, most people who are willing to take risk seem to entrepreneurial skill associate with business management.

1.3 OBJECTIVE OF THE STUDY

The objective of the nature study is therefore

To examine the nature and dimension entrepreneurship development in Nigeria
To examine some of the efforts of the government at encouraging entrepreneurship in Nigeria
To identify the factors constraining rapid entrepreneurship development in Nigeria
To examine the prospect of rapid and sustained entrepreneurship development in Nigeria
To suggest ways of facilitating entrepreneurship

development in Nigeria.

RESEARCH QUESTIONS

The following research questions are formulated for the nature purpose of this study.

What is the nature and dimension of entrepreneurship development in Nigeria.
What measures have the past and present government taken to encourage entrepreneurship development in Nigeria
To what extend is the business environment favourable to entrepreneurship development in Nigeria

1.5 THE SIGNIFICANT OF THE STUDY

This study will be found useful namely individuals and institutions. This is because it’s finding and suggestion will be invaluable to those who will the opportunity of going through the work.

In the first instance graduates and school leaves will particularly benefit from the study given the level of employment in the country and the rate of turn-out of graduates fin the country and the need for a determination. The study will show the various programmes and opportunities open to these individuals to become self-employed and independent in pursuing their daily living besides, the study will examined and identify the various challenges facing potential entrepreneurship development in Owerri innovation taking initiative and risk in the course of managing the business. Thirdly, government will also find the study useful as it will find in it is the reasons why the level of entrepreneurship development in the country is very low. This will enable it provide an enabling environment for potential entrepreneur in the state such supporting facilities are believed will help reduced entrepreneurship risk and facilitate the ventures furthermore, the study will be found useful for academic purpose it will serve as a data bank for students or other researcher who will carry on studies on the subject matter or related areas in the future, besides the researchers in the future. Besides the research areas in the future. Besides the research findings can provide the basis for further studies.

1.6 LIMITATION OF THE STUDY

The researcher was unable to get the required information from the chairman of unemployment thus, speaking with the secretary though the right data was collection the time leg was too short to conduct more researchers on this topic hence the social does not have any library for academic research work. Thirdly funds were problems a result much not done on his study

1.7 DEFINITION OF TERMS AND ACRONYMS

ENTEREPRENUER

This is an individual into creates a new firm and continues to manage it until it is successful and entrepreneur as a person who organized runs and takes the risk of a small business he risk money and reputation he works hard and put his talent on the line. He attempts to earn a profit by taking the risk of operating business enterprises. Entrepreneur is the name given in economic theory to the owner manager of the firm. The entrepreneur is organized resource or the factors of production (land, labour and capital) within their firm with the aim of building up a successful profit making company. Entrepreneur is a French word, which means the one who undertakes an entrepreneur is a person who set up a business taking a greater than normal financial risks in order to succeed. An entrepreneur is a person who attempts to make a profit by starting their own company or by operating along in the business world especially when it involves taking risk. He is manager controller and a champion.

ENTREPRENUERSHIP

Entrepreneurship is the process of establishing risk and making profit in a new firm taking risk and making profit in the process. Entrepreneurship or business enterprise refers it a group of skill which includes the ability to combine land, labour and capital in the most efficient way, this willingness to run the risk of the business failure and the considered a special type of human resource .Entrepreneurship is the act or process of getting into and managing your own business enterprise. This involves any form of innovation that has a bearing on the welfare of the firm.

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Full Project – Impact of entrepreneurship development in Nigeria

Full Project – Impact of entrepreneurship development in Nigeria

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