THE IMPACT OF ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA(A STUDY OF SELECTED ENTREPRENEURS IN SOUTHERN AREA)
1.1 BACKGROUND OF THE STUDY
The level of development of any nation is measured by its economic activities and productivity. Also, the economic realities of a nation are a function the rate of investment (public or private). The rate at which the investors commit their funds either to expand existing plants or to start a new project entirely depends on their perception of the economic environment prospects at a given time.
Government alone cannot provide all the investment needed in a country. To complement the government’s eort
is the private sector. As a result of the perceive role, the private sector can play in giving rise to positive economic growth in a country, several governments including Nigerian have designed programmes and various forms of assistance to spur the support active participation of the sector in economic development. Entrepreneurship development is the major pillar upon which active private sector participation in economic development rests.
The starting point for entrepreneurship lies in the human needs and wants. The existence of these needs and wants give rise to the concept of products that have utility to satisfy such needs. Man in his quest to satisfying his unending needs find himself into production. In the traditional period, man was involved in self production (i.e. Hunting, farming, fishing etc) and in the modern period. It’s all about transforming or changing from one or two resource input to a desired output service.
The entrepreneur, the human factor of a different order from labour has the ability to combine other factors to inputs. The entrepreneurial capability being a rate germ in business is highly soured. The ability to initiate a business idea and also take position decisions in combining other factors of production (land, labour and capital) for efficient and effective utilization despite all environmental problems (the focus of this study) determines who’s an entrepreneur. This therefore has its peculiar characteristics, problems and prospects. While most people allow condition to control their attributes the entrepreneur use their attitude helps the budding entrepreneur to focus on desired activities and events and result he hopes to achieve even negative experiences will contain something positive mental attitude towards all events and look from every experience.