EXAMINATION OF THE PROBLEM AND PROSPECTS OF ENTREPRENEURSHIP DEVELOPMENT IN ANAMBRA STATE (A CASE STUDY OF AGUATA LOCAL GOVERNMENT AREA)
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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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