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EFFECT OF
STARTUP BUSINESS IN ENTREPRENEURIAL DEVELOPMENT IN NIGERIA
CHAPTER ONE
1.1 Background To The Study
Entrepreneurship
is defined as the willingness and ability of a person to seek and identify
investment opportunities, establish and run a successful enterprise Solomon
(2007). It is also viewed as the act of
arranging business ideas, taking the associated risk and starting a Business,
with a view to profit making. According to Paul, (2005); and Ossai (2012)
entrepreneurship is essentially about taking a risk; it entails the creating of
new venture which previously did not exist. Previously exist; it is the
concerted effort and practice of starting new Business organization, especially
new business; it leads to the creation of new wealth through the implementation
of innovative ideas.
Entrepreneurship
is defined as the willingness and ability of a person to seek and identify
investment opportunities, establish and run a successful enterprise Solomon
(2007). It is also viewed as the act of
arranging business ideas, taking the associated risk and starting a Business,
with a view to profit making. According to EDC (2013) start up is the early
stage in the life cycle of an enterprise consisting of when the entrepreneur
converts the idea, to securing finance, outlining the basic structure of the business, and start
operations or trading. The effect of new startup businesses are enormous as
they create employment opportunities, create customer value in terms of providing new and improved products and services ,create training and
skill acquisition opportunities for the
youths and impact on the general living standard of the people and the economy. The research therefore seek
to investigate the Effect of startup
business in entrepreneurial development in Nigeria. A case study of event
management
1.2 Statement of the Problem
According to
Paul, (2005); and Ossai (2012) entrepreneurship is essentially about taking a
risk; it entails the creating of new venture which previously did not exist.
Previously exist; it is the concerted effort and practice of starting new
Business organization, especially new business;.According to EDC (2013) start
up is the early stage in the life cycle of an enterprise consisting of when the
entrepreneur converts the idea, to securing finance, outlining the basic structure of the business, and start operations
or trading. The effect of new startup businesses are enormous as they create
employment opportunities, create customer value in terms of providing new and improved products and services ,create training and
skill acquisition opportunities for the
youths and impact on the general living standard of the people and the economy.
However a
number challenges which poses as impediment to successful start of business
include the inability of people to exercise creative ideas and convert them
into business enterprises. A good number of graduates from technical schools
are not willing to take the part of starting a business instead they scout for
government jobs. Also the risk factor and inability to raise fund also poses as
challenges. Many people are not ready to neither take the risk of starting a
new business nor raise the necessary fund to meet the requirement for the
business. According the problem confronting the research is to determine the
Effect of startup business in entrepreneurial development in Nigeria. A case
study of event management
1.3 Objectives of the Study
To determine
the Effect of startup business in entrepreneurial development in Nigeria. A
case study of event management
1.4 Research Questions
What is
start up Business in Entrepreneurial development
What is the
Effect of startup business in entrepreneurial development in Nigeria? A case
study of event management
1.5 Significance of the Study
The study
seeks to project the growing significance of successful startup Businesses and
its overall impact on the economy.
It shall
also serve as a vital source of information to students, graduates, investors
and management expert.
1.6 Research Hypothesis
Ho The
Effect of event management business
startup in entrepreneurial development in Nigeria is not significant
Hi The
Effect of event management business
startup in entrepreneurial development in Nigeria is not significant
1.7 Scope of the Study
The study
focuses on the appraisal of the Effect of startup business in entrepreneurial
development in Nigeria. A case study of event management
1.8 Limitations of the Study
The study
was confronted by some constraints including logistics and geographical
factors.
1.9 Definition of Terms
ENTREPRENUER
DEFINED
The
entrepreneur is the individual who initiate the idea of a new busines.He brings
the overall change through innovation for the attainment of the maximum social
economic benefit of the people and of the entire economy .He execute his
function with conviction and vision .He is well coordinated with excellent
leadership qualities. His spirit of enterprise or business startup makes him
assume risk by identify business
opportunities, mobilize resources, and execute actions to satisfy demands of
the economy (Allawadi, 2010
ENTREPRENUERSHIP
DEFINED
Entrepreneurship
is defined as the willingness and ability of a person to seek and identify
investment opportunities, establish and run a successful enterprise Solomon
(2007). It is also viewed as the act of
arranging business ideas, taking the associated risk and starting a Business,
with a view to profit making. According to Paul, (2005); and Ossai (2012)
entrepreneurship is essentially about taking a risk; it entails the creating of
new venture which previously did not exist. it leads to the creation of new
wealth through the implementation of innovative ideas.
Entrepreneurship
is defined as the willingness and ability of a person to seek and identify
investment opportunities, establish and run a successful enterprise Solomon
(2007). It is also viewed as the act of
arranging business ideas, taking the associated risk and starting a Business,
with a view to profit making.
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