THE IMPACT OF FOREIGN CAPITAL IN ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA (A CASE STUDY OF IMO STATE)
ABSTRACT
The purpose of this study is to determine the impact of foreign capital in entrepreneurship development in Nigeria. To do this, data were collected through questionnaires and literature review.
The data were presented in table as frequency distribution and analysed with frequencies and percentage.
Having analysed the data, the following are the major findings
Multilateral organization, foreign government and private investors provide foreign capital for entrepreneurship development in Nigeria.
Foreign capital increase loanable funds for Nigeria entrepreneurs, provides funds for importation of foreign machinery and equipment as well as for entrepreneurship training in management.
Nigeria entrepreneurship can also arise foreign capital from international capital markets while multinational companies indirectly finance entrepreneurship development in Nigeria.
CHAPTER ONE
INTRODUCTION
In this chapter the research introduced the topic role of foreign capital in Entrepreneurship development in Nigeria (A case study of Imo state. The chapter is broken down into sub – headings. Background of the study, statement of problem, purpose of the study, scope of the study, research questions, research hypothesis, significant of the study. Definition of terms and references.
The sub – heading are discussed below.
1.1 BACK GROUND OF THE STUDY
The current emphasis on entrepreneurship development is informed by the protracted economic downtown which has not only retarded economic growth but aggravated unemployment situation in the country (Ugbaja,2001:22) Hitherto, everyone looked into the government as the provider of employment opportunities. Many Nigeria did not think of self determination as an alternative to government employment. But the worsening unemployment situation currently playing the country has changed this thinking, short of alternatives, many graduates and school leavers as well as other Nigeria are now moving in quest of self determination by launching themselves into various business venture (Eze, 1997:34).
In recognition of the need of foreign capital to enhance entrepreneurship development in Nigeria, the federal government has introduced has introduced a series of policy padages that are designed to attract foreign investment in the Nigeria small and medium enterprises sub – sector. In an attempt to diversify the economy and stimulate foreign private enterprise development government agencies and private institutions are liaising with international with international organization to enhance the letters participation in different entrepreneurship development activities in Nigeria (Onyishi, 2001.19). There are international organization such as the international labour organization involved in promoting small business and entrepreneurship in different part of the world (Afolabi,2001:22). In addition to providing foreign capital these international organizational also provide technical assistance for these African countries. It is against this back ground that this study is set to examine the role of foreign capital in entrepreneurship development in Nigeria.
