ENTREPRENEURIAL DEVELOPMENT AND ITS IMPACT IN OUR ECONOMY (A CASE STUDY OF EBOYI STATE)
ABSTRACT
This research work has the title. ‘Entrepreneurial Development and its impact in our economy’ this study was embarked upon in order to know the problems militating against entrepreneurship, its source of finance and the roles entrepreneurs play in Eboyi state as a test case.
A good number of works already carried out were reviewed. In order to achieve the set objectives, care was taken in collection of relevant data, using primary and secondary method of data collection such as interviews, questionnaires administration, personal observation and experiences.
Target population was appropriately segmented into sample – size. The researcher tried as much as possible to state the entrepreneurial developments and its impact honour economy bearing in mind the importance of the study.
The data gathered which were subsequently analyzed and interpreted, helped us to know the impact of entrepreneurial development in our economy in the area of job opportunities, social amenities and the like.Consequently, the researcher found out that entrepreneurship attributes so much in our economy positively such as ;
– enough produce
– provision of employment opportunities
– production for exportation
– increase in our foreign exchange earnings.
– Growth of small and medium scale industries.
The researcher concluded, sequel to the result of the hypothesis tested which proved true entrepreneurship encourages large- scale production.
Finally, the researcher recommended that the government should provide and keep proper watch the entrepreneurs as checks and balances. There should be increase in the proper utilization of credit facilities to enhance the growth of entrepreneurship in Eboyi state, and the like.
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The worldwide economic depression of the early 80’s caused a rapid deterioration of the Nigeria economy. The output shrank to an all time local and commercial activities, which were consequently reduced, leading to the loss of employment opportunities in the country. Therefore, by the end of 1985, the unemployment situation in Nigeria had increased its proportions and as such most Nigeria graduates were faced with hardship due to unemployment in the country. This situation therefore calls for entrepreneurship in Nigeria economy which also leads to entrepreneurial development in the higher institution.
However, at this juncture a brief history of entrepreneurship in Nigeria will give more insight on the study. Statistics have it that Africa is the poorest and less developed continent in world. Many state-owned enterprise in Africa were created when it was believed that the fastest route to development occurred when the state took on the role of entrepreneur.
Although Nigeria was at one time characterized by such inefficiency, but has recently pursued entrepreneurship encouragement policies. And the initial indications suggest that the policies have been successful. In Nigeria, the state-owned enterprises traditionally clogged business opportunities and restructure private entrepreneurs from entering the market. However, in the mid 1980’s Nigeria abolished it’s marketing board, which prevented entry into certain industries and it’s market to competition from domestic entrepreneurs.
