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ENTREPRENEURIAL
DEVELOPMENT INITIATIVE AND MICRO ENTERPRISE SUSTENANCE
ABSTRACT
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.
CHAPTER ONE
INTRODUCTION
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 tothe 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:
Determine
the entrepreneurial initiatives that can sustain micro-enterprises.
Investigate
the extent entrepreneurial initiatives can reduce unemployment.
Identify the
challenges of entrepreneurial development initiatives on micro enterprises
sustenance.
1.4. RESEARCH QUESTION
To know
whether entrepreneurial initiatives can help to reduce unemployment.
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
Entrepreneurship:
entrepreneurship is an undertaking in which one is involved in the task of
creating and managing an enterprise for a purpose (Ogudele 2004).
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).
Micro-enterprise:
it is a business range with a maximum labour of Ten (NERFUND).
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
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