THE CONTRIBUTIONS OF ENTREPRENEURSHIP PROGRAMME TO ECONOMIC DEVELOPMENT
This project work examine the contribution of entrepreneurship programme to economic development. Various entrepreneurship concepts were analysed to understands the past literatures on the study of entrepreneurship. Moreso, series of definitions were also given to know different perspectives at which entrepreneurship is been viewed as well as brief history of the case study i.e. FolHop limited, Ibadan. In addition to the concept of entrepreneurs. The writeup further attempt a concise review of the characteristics of an entrepreneurs, problems encountered by entrepreneurs and various sources of funds and various contributions of entrepreneurship to economy of different countries like India, as well as how it can contribute to Nigeria economy. Moreover, adequate findings were analysed and the research provided conclusion as well as necessary recommendations was given to further buttress the study of entrepreneurship programme to economic development.
The process of socioeconomic change in positive direction is the intrinsic part of human civilisation. The human efforts were put to unearth the treasures of resources by in built curiosity and further augment them to generate value added products or services to offer mankind the peaceful, conformable and rich life with better living conditions. The intangible human assets inform of creativity and knowledge become driving force that will yield industrialization as the process that must accelerate economic growth and induction of social change. The faster rate of such change and forces can only be achieved by effective entrepreneurship programme which focus on management of change and industrial polices.
Entrepreneurial programme mainly on innovative propensity and management capability with newer and recent managerial skill in the society in a particular period, this determines the future of economic development of a particular nation.
1.1 Background of the Study
Entrepreneurship plays an important role in the economic growth and development of a nation. It is now view as a purposeful activity includes in initiation, promotion and distribution of health and service. Furthermore, development agencies see entrepreneurship as an enormous employment potential, politicians see it as the key strategy to prevent social unrest, farmers see it as a instrument for improving farming earning and women see it as an employment possibility near their homes which provides autonomy, in dependence and a reduced need for social support and economists see it as a means of improving of the people.
However, entrepreneurship stands as a critical factor in economic development and an integral part of the socioeconomic transformation. Thus, there is an increasing realical role to play in helping Africa been the deal effectively with current and emerging development and reduce poverty.
In Nigeria, entrepreneurship programme is becoming a priority within all levels of education for many reasons such as self employment and selfreliance. Poverty reduction and youth empowerment are major challenges of the nation which depend heavily on the creation of employment opportunities. This leads to greater emphasize which is placed on entrepreneurship programmes, and development with focus on both rural and womens entrepreneurship in order to improve economic development. This will leads to advancement of national development.
This project work will focus on the reasons why entrepreneurship development programme is a force for economic improvement, the contributions of entrepreneurial programme to economic development as well as identification of various problems encountered in the process of improving entrepreneurial skills and knowledge.
1.2 Statement of the Problem
The statement of problem of this research work is as follows, that there is:
Inadequate financial support for the entrepreneurial business
Lack of effective information needed for the development of the business.
Poor productive resources required in the business
Difficulty for entrepreneurs to develop necessary managerial skill needed for the survival of their business
Exposure to series of risk in the course of entrepreneurial activities or business.
1.3 Objectives of the Study
This research work intends to achieve the following objectives.
To evaluate important of entrepreneurship programme to economic
To evaluate the qualities of successful entrepreneurs
To identify various source of funds and information available to entrepreneurs
To examine the contributions of entrepreneurship to the development of Nigeria economy.
To identify the problems and risk involve in entrepreneurship
1.4 Statement of Hypothesis
For the pose of this study, it is important to make on set an hypothesis in order to determine relevant conclusion in achieving the stated objective.
H0: There is no significant relationship between entrepreneurship programme and economic development.
H1: There is significant relationship between entrepreneurship programme and economic development.
H0: There is no significant relationship between entrepreneurships and national development.
H1: There is significant relationship between entrepreneurs and national development.
H0: There is no significant relationship between entrepreneurial activities and economic improvement activities.
H1: there is significant relationship between entrepreneurship activities and economic improvement activities.
1.5 Significance of the Study
This project work will be of great important to an average number of youths because among youth there by promote selfsubstance. Thus, various opportunities such as source of funds and strategic business management skill so as to enhance entrepreneurial business within the society.
1.6 Scope and Limitations of the Study
Specifically, this work is designed to analyse various contributions of entrepreneurship programme to economic development and is limited to the workers and management of FolHope limited.
The project work will not be conducted without hindrances encountered during the process, which affects the process of data collection entrepreneurship is also difficult to measure empirically, the periods for obtaining information also short and couple with other academic commitments is limited to conduct a through research on this study.
1.7 Definitions of Terms
This study intends to examine various concepts used in the research in order to make a good clarification. They are as follow.
ENTREPRENEUR: According to Richard Cantillon 1725 defines it as agent who buys means of production at certain prices in order to combine them thereby creating a new product. American Heritage Dictionary 1980 defines entrepreneurs as a person who organizes, operates, and assumes the risk for profit motive.
ENTREPRENEURSHIP: Amit et al 1993 defined entrepreneurship as the dynamic process of extracting profit from a new, unique and valuable combination of resources in an uncertain and ambiguous environment. Schumer view it as the process of persistent pursuit of opportunity to create wealth through innovative creation of a product or using scarce resources.
PROGRAMME: This is a process of presenting a detailed learning skill.
DEVELOPMENT: Is a process of economic political, SocioCultural technological and administrative transformation. It is the movement of programme from good to better position. That is from under developed to developed position.