CHAPTER ONE
1.0
INTRODUCTION
1.2 BACKGROUND OF THE STUDY
One of the major issues in the world (Nigeria) today
is the need to create more jobs. This idea would only be effective with the
change of attitude towards Entrepreneurship Development.
Entrepreneurship has to do with having the idea
(thinking), initiating it into existence and having the mind to take the risk.
Bringing the entrepreneurship into class room is capable of shooting up the
economic development of any nation to highest peak of development. In Nigeria
as a nation, we still have plenty of entrepreneurial talents, such as small
business, welder, furniture, mechanics, tailoring, catering to mention but few.
According to ACS, Carlsson and Karlsson (1999) many nations have suffered from
economic backward and high unemployment due to neglect of Entrepreneurship Development
in our school systems. The entrepreneurial spirit and its implementation are
needed. The real Entrepreneurship would only be achieved not only by policy
making but providing human materials, financial materials and material
resources in our Developmental system. As a result of rapid increase worldwide
on Entrepreneurship as the key for economic development and job creation,
policy makers and non governmental organization have developed varieties of
measures to improve
Entrepreneurship (Gnyanwali and Fogel, 1994). This
paper therefore aims to look at ways to increase the spirit of Entrepreneurship
in our future generations, why people take Entrepreneurship courses, its [imperative]
effectiveness, the growth of Entrepreneurship courses and steps to encourage
Entrepreneurship Development in our country, and its benefit to our graduates
and their environment.
Entrepreneurship simply means accepting the risk of
starting and running a business, be it technical work or buying and selling of
goods etc. It may be individual or team entrepreneurial. The team
Entrepreneurial is a group of experienced people from different areas of
business, who join together to form a managerial team with the skills needed to
Development has to do with encouraging, inspiring children, youths and elders
on how to be independent both in thinking and creativity in business. Business
being an economic activity that man engages himself in order to satisfy his
needs requires be well planning for, well managing and coordinating to ensure
effectiveness. On the other hand, from a micro perspective by Sexton and Bowman
(1987) Entrepreneurship Development is creation of business plan, case studies
and lectures. For the spirit of Entrepreneurship Development to survive, the
educators should take it upon their shoulder to develop courses around business
life cycle. The policy makers should seek solution from the Entrepreneurship
Educator and as such work on their suggestions.
Hills (1988) in his survey of fifteen teaching
educator in the field, found that courses have been created around the
production of business plans with an emphasis on market, feasibility analysis,
provision of infrastructures such as endowed faculty, research centers,
professional organization, journals and the mass media by both government and
non governmental organizations has given significant support and sustenance of
Entrepreneurship Development. Base on the above fact, it is relevant at this
juncture to express objectively that if our various institutions are stocked
with proper equipment, infrastructures, students schools records, qualified
Entrepreneurship Developmental teachers and the government on their own part
could have a significant effect on Entrepreneurship by offering minimum
start-up capital to committed students after graduation.
1.3 STATEMENT
OF THE PROBLEM
McMullan and Long, and Wilson (1987) suggested that
Entrepreneurship Development should be creatively grounded and that students
should be exposed to real problem solving and taught strategies to deal with
ambiguous and complex situation. In addition to their view, students should be
exposed to substantial hand-on working experience with community ventures. The
knowledge of Entrepreneurship Development to both male and female at their
early age should serve as a key to cement the reasoning of being independent to
their minds. Providing necessary materials into the class room would go a long
way in sustaining and making the young ones to develop positively towards
Entrepreneurship and being independent.
1.4 SCOPE/OBJECTIVES
OF THE STUDY
The objectives of this study are to investigate the how
small scale business can serve as a strategy for entrepreneurship development
in Nigeria. In fact, it is a tool through which social, economic and political
development could be achieved. If it is properly planned, funded and
implemented. The objectives of entrepreneurship development are spelt out by
Osuala (2010) as:
1. To
provide meaningful development for youth which could make them self reliance
and subsequently encourage them to drive profit and be self independent
2. To
provide graduate with the training and support necessary to help them establish
a career in small and medium size business.
3. To
provide graduates with training skills that will make them meet the manpower
needs of the society.
4. To
provide graduates with enough training in risk management to make uncertainty
bearing possible and easy.
5. To
stimulate industrial and economic growth of rural and less developed area.
6. To
provide graduate enough training that will make them creative and innovative in
identifying new business opportunities.
7. To
provide small and medium sized companies with the opportunity to recruit
qualified graduates who will receive training and tutoring in the skills
relevant to management of the business centre.
From the above objectives, it is evident that this
type of development if it is given all it deserves and properly implemented
will produce quality graduates that will foster job creation and reduce or
eliminate poverty in Nigeria. This could be realized when the graduates are
self-reliant by establishing their own business small/medium scale enterprises.
Job creation is one of the cardinal objectives of
Millennium Development Goals. When an ample job opportunities is created it
will invariably help to reduce poverty and enhance better standard of living of
an individual in Nigeria. Job creation is an act of making work in which one
receive regular payment available to the citizenry. That is creating an
enabling environment for ample employment opportunities in the society. This is
done by establishing cottage, small/medium scale enterprises in Nigeria.
1.5 RESEARCH
QUESTION
(1)
What are the effects of entrepreneurship
on Nigeria economic development?
(2)
What are the panaceas to lack of
entrepreneurship development in Nigeria economic development?
(3)
Does entrepreneurship development in
Nigeria help our Nigeria Society?
(4)
What are the contributions of small and
medium scale business to the development of Nigeria economy?
(5)
Does creating an employment can enable
environment for ample employment opportunities in the society?
1.6 DEFINITION
OF TERMS
Entrepreneurship:
can be defined as the act of starting or organizing a business especially one
involving risk.
Development:
is the process of facilitating learning knowledge, skills, values, beliefs, and
habits of a group of people are transferred to other people, through
storytelling, discussion, teaching, training, or research.
Panacea:
a solution or remedy for all difficulties.
Economic:
is the social science that seeks to describes the factors which determine the
production, distribution and consumption of goods and services.
Development:
the process of developing or being developed.