EFFECT OF STARTUP BUSINESS IN ENTREPRENEURIAL DEVELOPMENT IN NIGERIA
CHAPTER ONE
1.1 Background To The Study
Entrepreneurship is defined as a person’s willingness and ability to seek and identify investment opportunities, as well as establish and run a successful business. Solomon (2007). (2007). It is also defined as the act of organizing business ideas, taking the associated risk, and launching a business in order to profit. Entrepreneurship, according to Paul (2005) and Ossai (2012), is essentially about taking a risk; it entails the creation of a new venture that did not previously exist. It is the concerted effort and practice of establishing a new Business organization, particularly a new business; it leads to the creation of new wealth through the implementation of innovative ideas.
Entrepreneurship is defined as a person’s willingness and ability to seek out and identify investment opportunities, as well as to establish a business. and run a profitable business Solomon (2007). (2007). It is also defined as the act of organizing business ideas, taking the associated risk, and launching a business in order to profit. According to EDC (2013), a start-up is the early stage in the life cycle of an enterprise that includes the entrepreneur converting the idea, securing financing, outlining the basic structure of the business, and beginning operations or trading. The impact of new startup businesses is enormous because they create job opportunities, customer value by providing new and improved products and services, training and skill acquisition opportunities for youths, and have an impact on the overall living standard of the people and the economy. As a result, the research aims to Examine the impact of startup businesses on entrepreneurial development in Nigeria. An event management case study
1.2 Statement of the Problem
Entrepreneurship, according to Paul (2005) and Ossai (2012), is essentially about taking a risk; it entails the creation of a new venture that did not previously exist. It is the concerted effort and practice of establishing a new Business organization, particularly a new business. According to EDC (2013), a start-up is the early stage in the life cycle of an enterprise that includes the entrepreneur converting the idea, securing financing, outlining the basic structure of the business, and beginning operations or trading. The impact of new startup businesses is enormous because they create employment opportunities, customer value by providing new and improved products and services, training and skill acquisition opportunities for youths, and have an impact on the general living standard of the population.
People and the economy.
However, one of the obstacles to a successful business start-up is people’s inability to exercise creative ideas and convert them into business enterprises. Many technical school graduates are unwilling to take on the risk of starting a business and instead seek government employment. The risk factor and inability to raise funds are also challenges. Many people are unwilling to take the risk of starting a new business or to raise the necessary funds to meet the business’s requirements. According to the research problem, the effect of startup businesses on entrepreneurial development in Nigeria must be determined. An event management case study
1.3 Objectives of the Study
To ascertain the impact of new ventures on entrepreneurial development in Nigeria. An event management case study
1.4 Research Questions
What exactly is a start-up? Entrepreneurial Development in Business
What role does entrepreneurship play in the development of Nigerian entrepreneurs? An event management case study
1.5 Significance of the Study
The study aims to forecast the growing importance of successful startup businesses and their overall economic impact.
It will also be a valuable resource for students, graduates, investors, and management experts.
1.6 Research Hypothesis
Ho Event management business startup has no significant impact on entrepreneurial development in Nigeria.
Hi Event management business startup has no significant impact on entrepreneurial development in Nigeria.
1.7 Scope of the Study
The study examines the impact of startup businesses on entrepreneurial development in Nigeria. An event management case study
1.8 Limitations of the Study
Some constraints, such as logistics and geographical factors, hampered the study.
1.9 Definition of Terms
DEFINITION OF AN ENTREPRENEUR
The entrepreneur is the person who comes up with the idea for a new business.
He brings about overall change through innovation in order to maximize the social and economic benefit of the people and the entire economy.
He performs his duties with conviction and vision.
He has excellent leadership qualities and is well-coordinated. His entrepreneurial spirit causes him to take risks by identifying business opportunities, mobilizing resources, and executing actions to meet economic demands (Allawadi, 2010).
DEFINITION OF ENTREPRENEURSHIP
Entrepreneurship is defined as a person’s willingness and ability to seek and identify investment opportunities, as well as establish and run a successful business. Solomon (2007). (2007). It is also regarded as the act of organizing business ideas, as well as the associated risk.
starting a Business, with a view to profit making. Entrepreneurship, according to Paul (2005) and Ossai (2012), is essentially about taking a risk; it entails the creation of a new venture that did not previously exist. It results in the creation of new wealth by putting innovative ideas into action.
Entrepreneurship is defined as a person’s willingness and ability to seek and identify investment opportunities, as well as establish and run a successful business. Solomon (2007). (2007). It is also defined as the act of organizing business ideas, taking the associated risk, and launching a business in order to profit.
REFERENCES
S.C. Allawadi (2010), “Entrepreneurship Challenges in the Twenty-First Century,” Indian Institute of Material Management, Mumbai. 145-160
Mr. Paul, E.O. (2005). Entrepreneurship Training. In the town of Ezenma A Amoke Beatrice O., Priscilla N., Paul Elizabeth O.
G. Solomon (2007). An Investigation into Entrepreneurship Education in the United States. The Journal of Small Business and Enterprise Development, 14(2), pp. 168-182.
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