Entrepreneurship As A Tool For Sustainable Employment

 

Abstract

 

This exploration work was carried out to show the significance of Entrepreneurship as a tool for sustainable job creation, a crucial factor demanded to grow every country’s frugality especially insub-Saharan Africa or third world countries. This study analyses entrepreneurship and how it has grown over the times in Nigeria. It also helps to examine factors that can affect entrepreneurship in a country. One hundred and seven( 107) questionnaires were administered to gather responses to be anatomized, which is used in testing the suppositions employed. With nearly a 100 percent response rate, simple chance system was used for the analysis, chi-square statistical tool was employed to test the thesis. Both particular and environmental factors were seen to be important to enhance the entrepreneurial conditioning in an frugality. The study revealed some crucial issues. The major findings of this exploration were that; the vacuity of this factors mention preliminarily; which are particular factors( similar as leadership style, educational qualification, tone- efficacity, specialized factors) and environmental factors similar as( legal structure, stable profitable growth, technology, political stability) will promote entrepreneurship, and help annihilate poverty as well as severance. The consummation of entrepreneurship as a tool for sustainable job creation is the high responsibility of both the government and existent( entrepreneur). It’s of utmost significance that the government provides a conducive terrain, and that individualities( entrepreneurs) are prepared to face any chain to in order to succeed.

 

Table Of Content

 

Chapter One

 

Preface

 

Background of Study

 

Statement of the Problem

 

Purpose of Study

 

Applicable Research Questions

 

Significance of Study

 

Exploration thesis

 

Compass of Study

Limitation of Study

 

Chapter Two Review Of Related Literature

 

Theoretical Framework

 

The Concept of Entrepreneurship

 

Entrepreneurship in Nigeria

 

Types of entrepreneur

 

Empirical frame

 

Influence technology as an enabler

 

Driving force for Entrepreneurship

 

Abstract frame

 

The part of entrepreneurship in public development

 

The conclusion at a regard commission on sustainable enterprise, transnational

 

Labors Congress 2007.

 

Conditions for a conducive terrain for sustainable enterprises

 

Part of government in the creation of sustainable enterprise

 

Enterprise- position principles of sustainable enterprise

 

Part of the social mates in the creation of sustainable enterprises

 

Government’s history entrepreneurial and SMEs support action

 

Constraints to entrepreneurship in Nigeria

 

Conclusion

 

Chapter Three Exploration Methodology

 

Exploration design

 

Population and sample size

 

Slice ways

 

Exploration instrument

 

Sources of data

 

Questionnaire design

 

Validity and trustability of the exploration instrument

 

Procedure for processing and assaying data

 

Chapter Four Data Donation And Analysis

 

Data donation and analysis

 

Administration and exploration question

 

Socio- demographic characteristics of repliers

 

Test of thesis

 

Discussion of Findings

 

Chapter Five Summary, Recommendations And Conclusions

 

Preface

 

Synopsis

 

Summary of findings

 

Conclusion

 

Recommendations

 

Bibliography

 

Excursus

 

Chapter One

 

Preface

 

Background Of Study

 

Entrepreneurship has noway been more important than it’s moment in this time of fiscal extremity. At the same time, society faces massive global challenges that extend well beyond the frugality. Innovation and entreneurship give a way forward for working the global challenges of the 21st century, erecting sustainable development, creating jobs, generating renewed profitable growth and advancing mortal weal. When we speak about entrepreneurship, we’re defining it in the broadcast terms and in all forms – entrepreneurial people in large companies, in the public sector, in academia and, of course, those who launch and grow new companies. Now further than ever, we need invention, new results, creative approaches and new ways of operating. We’re in uncharted home and need people in all sectors and at all periods who can “ suppose out of the box ” to identify and pursue openings in new and paradigm changing ways.

 

Entrepreneurship can be a societal change agent, a great enabler in all sectors. Not everyone needs to come an entrepreneur to profit from entrepreneurship but all members of society need to be more entrepreneurial. The public sector, private sector, academia andnon-profit sectors all have places to play in easing the development of effective ecosystems that encourage and support the creation of innovative new gambles. We need to produce the types of surroundings that are conducive to encouraging entrepreneurial ways of allowing and carrying.

 

important has been written about the impact of entrepreneurship on profitablegrowth.However, we must develop mortal capital in all countries and societies, in remote regions as well as major metropolises, If we’re to attain the Millennium Development Goals of reducing poverty. While the surrounds around the world vary dramatically, entrepreneurship, in its colorful forms, can equip people to proactively pursue those openings available to them grounded on their original surroundings and societies. We’ve seen a number of “ swells ” in entrepreneurship education, starting a century agone , developing in phases and now expanding exponentially. By making entrepreneurship education available to youthful people and grown-ups likewise, we’re preparing the coming surge of entrepreneurs to enable them to lead and shape our institutions, businesses and original communities and produce an enabling terrain for sustainable employment.

 

Entrepreneurship is a sure way to bringing fulfillment to the aspiration of an individual, and a major armament to bridling severance, poverty and underdevelopment problems in any country. Accordingly, its significance to the profitable good of an individual and family can not be over-emphasized. Entrepreneurship is first and foremost a mindset of mortal beings, concentrated towards the generation or profitable ideas. Entrepreneurs are visionary, thing- driven, innovative individualities or brigades that are acquainted to developing a new business and making it a profitable one( Hisrich and Lagan- fox, 2005). Nigerian frugality is an arising bone that’s characterized by a large affluence of entrepreneurs and small and medium enterprises. The emergence of this order of people makes it kindly important and necessary for experimenters to understand and mange them effectively.

 

Entrepreneurs play an important part in any given frugality and are the high carriers of profitable development. Entrepreneur is deduced from the French verb “ entrependre ” which means to take over, to attempt, to try in hand, to contract for, or to adventure( Girad, 1962). Entrepreneurship is the process of wealth creation and individualities appertained to as entrepreneurs produce this wealth by being innovative. The traditional perspective described entrepreneurship in purely profitable terms. For illustration, Cantillon( 1755), describes the entrepreneur as any existent who’s tone- employed, thereby laboriously taking the threat of profitable query. The entrepreneur in the environment of this paper is the originator or creator of a profit seeking organ of the society or profitable association established for the purpose of furnishing goods and services for the consumption of the society, in which similar associations located. The entrepreneur is frequently appertained to as the agent of profitable, technological and social systems( Ogundele and Olayemi, 2004).

 

Small businesses are generally regarded as the driving force of profitable growth, job creation and poverty reduction in developing countries. They’ve been the means through which accelerated profitable growth and rapid-fire industrialization have been achieved. While the benefactions of small businesses to development are generally conceded, entrepreneurs face numerous obstacles that limit their long- term survival and development. exploration on small- business development has shown the rate of failure in developing countries is advanced than in advanced world.( Arinaitwe, 2002). Scholars have been indicated that starting a business is a parlous adventure and advise that the chances of small- business possessors making it past the five- time mark are veritably slim. Theyshould develop both long- term and short- term strategies to guard against failure( Sauser, 2005; Monk, 2000). In Nigeria, Arowomole,( 200) asserted that every successvie government continue to emphasis on entrepreneurship emergence. This is presumably to find a better way of nurturing the emergence of entrepreneurship by looking for those determinants that could effectively and appreciatively affect the entrepreneurship emergence as well as the performance.

 

With reference to over, numerous once studies have proved the significant impact of entrepreneurial factors similar as individual determinants, external factors and firm characteristics on entrepreneurial performance. For case, Mohd( 2005); Blackman( 2003); Ogundele( 2007); Colin etal.,( 2005) and Lawal( 2005) argued that individual determinant which is also called entrepreneurial characteristics significantly and appreciatively affect both entrepreneurial emergence and entrepreneurial performance. also, Van de ven( 1993); Mohd( 2005); Arowomole( 2000); Kuratko etal.,( 2004) and( Radiah, Mohd and Ab, 2009) have asserted that external factors prognosticate and significantly affect entrepreneurial performance as well as the emergence of entrepreneurship of any country. With respect of this, Van de van( 1993) has further argued that any study within the field of entrepreneurship development without the consideration of external factors which he nicknamed external terrain should be considered deficient and invalid. Consequently, Johan etal.,( 2005); Mohd( 2005); Lin( 2006) and Dean etal.,( 2000) argued that firm characteristics similar as firm size, nature of establishment etc affect the performance of the establishment. From the below, there’s no mistrustfulness that once studies have really given attention to the impact of individual determinants, external factors and firm characteristics on firm performance( Rebecca, 2009; William, 2009; Zhang etal., 2008; Okpara etal., 2007; Ogundele, 2007). still, despite this attention extended to these factors, Man, Lau and Chan,( 2002) have argued that all these factors reference in this study still earn farther attention in the study of entrepreneurship and small business.

 

While different factors similar as individual determinants, external factors and firm characteristics have been set up to impact entrepreneurial performance to different extents, the results are frequently inconsistent( Man etal., 2002, Yanfeng and Si, 2008, Kisfalvi, 2002; Dean etal., 2000; Pelham, 1999;( Chandler and Hanks, 1994; Cooper, 1993). In order to attack this problem, once studies have suggested contingency connections on different conditions and relations( Fanga, Evans and Zou, 2005; man etal., 2002).

 

This exploration attempts to ascertain, empirically, the determinants of entrepreneurial emergence and performance as a tool for sustainable employment, as perceived by indigenous entrepreneurs in Nigeria. The hypotheticals being tested are that entrepreneurial emergence and performance though affected by several sets of factors if duly dived can serve as a means or tool for sustainable employment for the Nigerian crowd.

 

Statement Of The Problem

 

The fiscal and profitable extremity has added to thepre-existing profitable, social and political challenges in Nigeria. therefore, there’s an critical challenge to develop programs and strategies to induce decent and productive jobs through the creation of sustainable micro-, small- and medium- sized enterprises in Nigeria. Feting the part of the entrepreneurship for growth, employment creation and poverty reduction, countries in the West African region are encouraged to engage in a process of sound profitable reform, particularly diving the creation of an enabling business terrain and the acceptability of the education system, which the labour request needs.

 

Nigeria facesmany problems. The challenges faced by entrepreneurs in developing countries are monumental and relatively analogous.

There’s massive severance, incompletely as a result of retrenchment in government and associations. Due to the profitable situation of the country, more “ entrepreneurs ” are arising. This is as a result of the attainability of jobs( i.e. more force of labor, lower demand for it) in the request, and the need or hunt for survival.

Another challenge is the unstable and largely regulatory business terrain. The laws governing private enterprise, especially business enrollment and taxation systems, are believed to be exorbitantly and delicate to understand. Contract and private property laws are frequently inadequately designed and or executed. As suggested by Kiggundu( 2002), Pope( 2001), and Stevenson( 1998) the inimical institutional/ nonsupervisory terrain is frequently accompanied by the added charges of corruption and bribery. Other problems encountered by entrepreneurs in transition economics include poor macroeconomic programs, limited access to short- term and long term fiscal capital, and a lack of directorial experience. Nigerian entrepreneurs reported that they were constantly wearied by government officers who wrested plutocrat from their businesses.

Poor structure including bad roads, water deficit, erratic electric force, and poor telecommunication system represent fresh challenges faced by small business possessors( Mambula, 2002).

Difficulty in gaining access to bank credits and other fiscal institutions proved to be a major handicap hindering the process of Nigerian entrepreneurship emergence.

The most serious and dangerous problem hanging the state of entrepreneurship in Nigeria is a lack of government interest in and support for MSEs( Ariyo, 2005). This poor station toward for private sector explains why there explains why there has noway been any real attempt on the part of government to develop any programs or lasting programs to support small businesses.

This exploration design studies the critical significance of sustainable enterprises through entrepreneurship in achieving social development pretensions, profitable diversification, income generation and poverty reduction in Nigeria. It also highlights a number of challenges facing the pivotal development of entrepreneurship. Some of the challenges are structural; others are the result of the ongoing fiscal and profitable extremity. A conducive business terrain with an effective legal and nonsupervisory frame is early for entrepreneurship as a tool for sustainable job creation.

 

Purpose Of The Study

 

The underpinning principle of this study is to examine the significance on entrepreneurship as a tool for sustainable employment. The study is also geared towards achieving the following objects

 

To examine the viability of entrepreneurship as a tool for sustainable employment.

To raise mindfulness of the significance of entrepreneurship as a tool for sustainable employment.

Consolidate being knowledge and good practices in entrepreneurship around the world to enable the development of innovative new tools and approaches.

give recommendations to governments, academia, the private sector and other actors on the development and delivery of effective entrepreneurship.

Applicable Exploration Questions

 

The following questions were designed to probe into the viability of entrepreneurship as a tool for sustainable employment.

 

Is entrepreneurship really a tool for sustainable employment?

What impact does entrepreneurship have on sustainable employment?

What challenges does entrepreneurship face in creating sustainable employment?

Are there other benefits of entrepreneurship piecemeal from creating sustainable employment?

Does entrepreneurship guarantee sustainable employment?

Significance Of The Study

 

The study is anticipated to make donation to knowledge in the ensuing areas

 

give information about entrepreneurship in relation to sustainable employment in the Nigerian frugality.

An essential material for scholarly converse in operation wisdom relating to Entrepreneurship.

help in furnishing information on the viability of entrepreneurship as a tool for sustainable employment in the Nigerian frugality.

give information on the challenges of entrepreneurship in Nigerian.

give information for unborn exploration works on entrepreneurship/

Exploration Thesis

 

1. H0 Entrepreneurship isn’t a tool for sustainable employment.

 

H1 Entrepreneurship is a tool for sustainable employment.

 

2. H0 Environmental and Personal factors affect entrepreneurship as a tool for sustainable employment.

 

H1 Environmental and particular factors don’t affect entrepreneurship as a tool for sustainable employment.

 

Compass Of Study

 

The study focuses on the viability of entrepreneurship as a tool for sustainable employment in the Nigerian frugality. It totally analyses the way involved in getting an entrepreneur and creating sustainable employment.

 

Limitation Of Study

 

The study is limited in compass to chancing out how entrepreneurship can serve as tool for sustainable employment. still, the selection of many small and medium scale business possessors in Lagos remains a limitation of the study, as a result of incapability to consider the total population of small and medium scale business possessors in Lagos. Time, cost and instruments are also part of the limitation of study. Hence, the conception of the finding is confined as a result of time and cost constraint.

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