CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Entrepreneurship is defined as a person’s willingness and capacity to search out and find investment possibilities, as well as develop and run a profitable business. Solomon is a wise man (2007). It can also be defined as the process of gathering business ideas, incurring the accompanying risk, and launching a firm with the goal of making a profit. Entrepreneurship, according to Paul (2005) and Ossai (2012), is primarily about taking a risk; it comprises the creation of a new business that did not exist earlier. It is the deliberate effort and practice of establishing a new business organization, particularly a new firm, which results in the development of new wealth through the execution of innovative ideas.
Entrepreneurship is defined as a person’s willingness and capacity to search out and find investment possibilities, form a business, and grow it.
STATEMENT OF PROBLEM
Entrepreneurship, according to Paul (2005) and Ossai (2012), is primarily about taking a risk; it comprises the creation of a new business that did not exist earlier. It is the systematic effort and practice of establishing a new business organization, particularly a new business; According to EDC (2013), the early stage of an enterprise’s life cycle is when the entrepreneur translates an idea into a business plan, secures funding, lays out the basic structure of the company, and begins operations or trade. New startup firms have a huge influence since they create jobs, add value to customers by offering new and improved products and services, provide training and skill acquisition opportunities for youths, and have an overall positive impact on people’s living standards.
OBJECTIVES OF THE STUDY
The purpose of this study is to examine the impact of startup businesses on entrepreneurial development in Nigeria. An event management case study
RESEARCH QUESTIONS
What exactly is a start-up? Entrepreneurial development through business
What role does the startup business play in Nigeria’s entrepreneurial development? An event management case study
SIGNIFICANCE OF THE STUDY
The goal of the study is to forecast the growing importance of successful startup businesses and their total economic impact.
It will also be a valuable resource for students, graduates, investors, and management experts.
RESEARCH HYPOTHESIS
Ho In Nigeria, the impact of event management business startup on entrepreneurial development is negligible.
Hi In Nigeria, the impact of event management business startup on entrepreneurial development is negligible.
SCOPE OF THE STUDY
The purpose of this research is to assess the impact of startup businesses on entrepreneurial development in Nigeria. An event management case study
LIMITATION OF THE STUDY
The study was hampered by logistical and geographical obstacles.
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 general change through innovation in order to maximize the people’s and economy’s social and economic benefits.
He carries out his duties with determination and foresight.
He has outstanding leadership qualities and is well-coordinated. His entrepreneurial spirit causes him to take risks by identifying business opportunities, mobilizing resources, and executing measures to meet economic demands (Allawadi, 2010).
DEFINITION OF ENTREPRENEURSHIP
Entrepreneurship is defined as a person’s willingness and capacity to search out and find investment possibilities, as well as develop and run a profitable business. Solomon is a wise man (2007). It can also be defined as the process of gathering business ideas, accepting the accompanying risk, and implementing them.
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