PROJECT TOPIC- EFFECT OF ENTREPRENEURSHIP EDUCATION ON THE NIGERIA ECONOMY
The study specifically investigate Effect of Entrepreneurship Education on the Nigeria Economy. A case study of Etsako West Local Government Area Auchi, Edo State. In conducting this study, three hypothesis were formulated to achieve the stated objective. Data were collected from secondary and primary sources. Questionnaire were designed, sorted presented analysed, interpreted the development of entrepreneurship has significant effects on the rural communities. Government should make sure that incentives get to those who actually need them, and also give the amount that each business owners ask for and distribute more power for the people without which no significant progress can be achieved, Development actually rest heavily on power generation and distribution. Government can do better by educating the people to use the money for the purpose it is meant for and avoid diversion of funds.
1.1 Background to the Study
The continuing economics backwardness of most third world countries is the over prolonged sojourn of private foreign investment where the predatory and exploitative orientations and activities of foreign monopoly capital, its inherent tendencies to resist and hamper local industrialization and perpetuate merchantive capitalism in these countries. And its determination and deliberate efforts to regard the growth of indigenous entrepreneurship heavily influence developing countries history for well over a century.
In addition it was after the first federal government of Nigeria came into office in 1954 that definite steps were taken to deal with these various negative aspect of private foreign investment in Nigeria. In particular the Nigeria government has overcome the mercantilist preference of foreign entrepreneur and led them to establish industries and though a judicious use of stable threats and selected incentive Akeredoinalg, (1976).
Deliberate government efforts to stimulate entrepreneurship in Nigeria. Date back to 1946 when the publication of ten years programme development and local welfare for Nigeria was first published. The program provided for one agency, the Nigeria local development board, which was to aid the growth of indigenous entrepreneurship directly through granting of loans to Nigeria owned enterprises. But perhaps its more significant implications for subsequently were largely unintended.
The participation of Nigeria enterprises in the economic development of their country has been striking in comparison with the experience of most developing countries. Internal trade importing road transportation, non financial service, building and construction, commercial agriculture and industry have been areas of improvement of entrepreneurial effort by Nigerian in recent years.
It is true that vast majority of large scale enterprise have been in the hands of expatriate or government agencies, yet many small and medium scale indigenous firms have played an important part in the structure transformation of the country economy.
This study will attempt to isolate the principal determinates of Nigeria entrepreneurial activities in industry (Harris 1976). The timing and nature of Nigerian industrialization have not been the outcome or ordinary market forces manifested in he heightening of competition in import trade which have changed to orientation of foreign firms in Nigerian from import distribution to local manufacturing.
The established merchant firm did resist the attempt to initiate local industrialization until pressing natural economic problem inspired more aggressive government polices which dictated clearly the new direction in which the economy had to motive.
Since 1950’s the Nigerian government have to attach high priority to the objective of boosting indigenous entrepreneurship in the modern sector of the economy. In pursuit of that objective, the government has come to increasing conflict with interest of private foreign investment who, hither to have firmly dominated and controlled the modern sectors. This study seek to explain while developing economics which has no much to attract more in the future, has become increase restructure in the condition it lay down for the operation of foreign investors in these countries.
The role of entrepreneur in economy development involve more than just increasing perceptual output and income, it involves initiating and constructing change in the structure of business and society more wealth to be divided by various participants.
Chell (2002) concluded that there has been a gradual increased in awareness of the role of entrepreneurs in economic growth and various approaches from the regaining, it is clear that entrepreneurship development is an economic agent both born or made representing an enlightening perspective of a country, entrepreneurs are gradually committed and determined with the qualities approach of development in part with high level of self confidence therefore, they can survive grow and expand our economic, if government can create an enabling environment for the operations.
It is against this background that this is undertaken to investigate entrepreneurship development in Etsako West and central as focal point.
PROJECT TOPIC- EFFECT OF ENTREPRENEURSHIP EDUCATION ON THE NIGERIA ECONOMY
1.2 Statement of the Problem
In light of the general problem, this study would investigate the under listed specific problems.
- Knowing if the development of entrepreneurship has any significant effect on the rural communities.
- Examining if entrepreneurs are given any adequate incentive to help develop rural communities.
- Determining if there is enough infrastructural development in the rural communities and also determining if there is enough infrastructural development in the rural communities for the entrepreneurs to thrive.
1.3 Research Question
(i) Has small business developed in rural communities?
(ii) How has small business developed?
(iii) Has the growth of small business affect the rural communities?
(iv) How significant has the growth of small business affect the rural communities?
(v) To ascertain if the development of entrepreneurship has any significant effects on the rural communities?
(vi) To find out whether entrepreneurs are given adequate incentive to help develop Edo state rural communities?
14 Objective of the Study
The study has here listed it objective or purpose.
- To ascertain if the development of entrepreneurship in Edo State has any significant effects on the rural communities.
- To find out whether entrepreneurs are given adequate incentives to help develop Edo State rural communities.
- To find out if there is enough infrastructural development in rural communities for the entrepreneurs to thrive.
1.5 Research Hypotheses
The hypotheses for this research are stated below as follows:
(1) Entrepreneurship does not have impact in the development of rural communities.
(2) The development of entrepreneurship in Edo State has no
significant effect on rural communities.
(3) The entrepreneurs in Edo State has no enough infrastructural development in rural communities for the entrepreneurs to thrive.
1.6 Scope of the Study
The scope of the study is intended to cover entrepreneurship development in Etsako West and their environs in Edo State. Its however important that research of its type naturally should cover small scale business in Auchi and environs and find out the general contribution to entrepreneurship development. Therefore, the study we must face, the enterprise in the above named and its contribution in the growth of entrepreneurship development in these areas.
The specific area to be looked into is the creation of employment opportunities, rural development and growth, encouragement of indigenous enterprises (entrepreneurs).
1.7 Significance of the Study
It is the thousands of anonymous smaller firms which employ fewer than 20 employees that are the primary job provides in urban areas and they also provide a major share of new jobs in rural areas as well,
An important aspect of economic growth in any country is the key individual who promote change and initiate development activities. These person may be called entrepreneurs. Because if the entrepreneurs prosper the communities in which they operate will also prosper.
This study will assist in re-awaking the interest of individuals in line with the concept of entrepreneurs of changing the situation around i.e in the area of increasing per-capital income, employment generation and allows more wealth to be divided by various participants.
1.8 Limitation of the Study
In the process of coming out this work the researcher encounter some problems that hinder the progress of the research effort. But however, the researcher was able to put these problems under control.
The quest and the need to collect adequate information for the research, effort was almost a barrier but the researcher was able to put the situation under check by visiting some major libraries to get the needed literature.
1.9 Operational Definition of Terms
Entrepreneurship: According to Davis (1983) as citied by Igbo (2005) sees entrepreneurship as the creation and running of one’s own business. Timmon’s (1987) also citied by Igbo (2005) sees it as a process of creating, building and distributing something of value from practical nothing to individuals groups, organization and society.
Entrepreneur: According to (UNIDO 1999) entrepreneur is a process whereby a person using his/her private initiative to transform a business concept into a new venture or to grow and diversify an exist venture or enterprise with high growth potential.
Small scale enterprise: It is a small scale enterprise that have relatively little capital investment.
Development: This is seen as the state of improving, expanding or enlarge reforming.
Developing economy: It means the increase in value of an economy i.e increase in output, rural areas. A set of community dealers that lacks the basic social amenities.
Community: According to Oxford Dictionary (7th edition) body of person in the same locality, a body of persons living a communal life.
Economic Development: According to Asemota to (2010) Is the increase in the general welfare and standard of living of the people in that country.
Economic growth: Increase in the productive capacity of an economy.
Expatriates: To send out one country for particular assignment usually technicians.
Internal Trade: Trade and trading activities within a particular nation or country.