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1.1 Background of the Study
Nigeria is naturally endowed with entrepreneurship opportunities; however the realization of the full potential of these opportunities has been dampened by the adoption of inappropriate industrialization policies at different times. Several policy interventions that were aimed at stimulating entrepreneurship development via small and medium scale enterprises promotion, based on technology transfer strategy, have failed to achieve the desired goals as it led to the most indigenous entrepreneurs becoming distribution agents of imported products as opposed to building in-country entrepreneurial capacity for manufacturing, mechanized agriculture and expert services (Thaddeus, 2012).
With the collapse of the last vestiges of the socialist economic system in 1991, virtually the whole world has embraced free enterprise economic system. Entrepreneurship is the cornerstone and at the heart of the free enterprise economy (Popoola, 2014). Entrepreneurship is an activity that involves the discovery, evaluation and exploitation of opportunities to introduce new goods and services, ways of organizing, markets, processes, and raw material through organizing efforts that previously had not existed (Shane and Venkataraman, 2000).
In recent times entrepreneurs have been referred to as necessary prerequisite to mobilize capital, exploit natural resources and create markets to carry on trade (Harbinson and Myers 1984). Entrepreneurs are agents who perform a vital role in the economic growth of a country and are linked to the overall industrial development of a nation.
Entrepreneurship is critical for the economy as entrepreneurship is an engine of economic progress, job creation as well as social adjustment (Gurol and Atsan, 2006). The growing need to hasten economic development by generating new ideas and to translate into profitable ventures makes entrepreneurship an attention for the scholars as well as the policy makers (Turker and Selcuk , 2008). Entrepreneurship, with all attendant ingredients, is one of the best means of triggering economic and social development in developing nations like Nigeria, thus a catalysing the process of Entrepreneurship in developing countries will accelerate the process of economic growth and social development (Thomas and Mueller,2000).
The importance of entrepreneurship development through new business formation for economic growth has been recognized since Schumpeter (1934). Entrepreneurship is strongly linked to small and medium sized enterprises (SMEs), which are the main developing force of the developed market economies (Stefanovic, Milosevic and Miletic, 2009) that provides the spring board for industrial development and economic growth.
According to the Global Entrepreneurship Monitor Report (2000), about 70 percent of an area’s economic performance and well being is dependent upon how entrepreneurial the area’s economy is. Ogundele, Olajide and Ashamu (2008) argue that Entrepreneurship activities are very fundamental to any meaningful development of an economy.
The great need for entrepreneurship development in Nigeria today, more than ever, is necessitated by the rate of unemployment and its effect on both the people and the nation and the need for small and medium enterprises. In spite of the fact that entrepreneurship development has been regarded as the bulwark for employment generation and technological development in Nigeria, the sector nevertheless has had its own fair share of neglect with concomitant unpleasant impacts on the economy (Okpara, 2000)
Furthermore, for entrepreneurs to play an appropriate role, the role of the state remains important; if not more so than before. Strong states, as regulators and gatekeepers, play a particularly vital role. In the absence of appropriate ‘rules of the game’, entrepreneurship may result in undesirable social outcomes, including corruption, crime, speculation and financial crises, and may worsen the vulnerabilities of people during natural disasters (UN Report, 2011).
1.2 Statement of the Problem
Entrepreneurs make a substantial contribution towards entrepreneurship development in Nigeria; however, the realization of these potential contributions has been flawed by a lot of challenges. Despite the potential contributions of entrepreneurs towards entrepreneurship development, entrepreneurship in Nigeria has continued to perform below expectation and hence the expected role entrepreneur will play towards Entrepreneurship development in Nigeria has been constrained by challenges entrepreneurs face in Nigeria such as harsh government regulations, gaining access to financial constraint, inability to acquire to information technology have been the cause of the failure of many entrepreneurship development in Nigeria. The study focuses on entrepreneurial development and implication for Nigerian economic growth.
1.3 Objectives of the Study
1. To investigate the effect of entrepreneurship development on employment generation
2. To identify the problems encountered by entrepreneurship in Yola
3. To examine the importance of entrepreneurial development in the promotion of economic development
4. To examine the contribution Adamawa State government on entrepreneurship development
1.4 Research Questions
2 What is the effect of entrepreneurship development on employment generation?
3 What are the problems encountered by entrepreneurs in Yola
4 What are the importance of entrepreneurial development in the promotion of economic development
5 What are the contributions of Adamawa State government on entrepreneurship development?
5.3 Research Hypotheses
1. There is no significant effect of entrepreneurship development on employment generation
2. There is no significant effect of problems encountered by entrepreneurship in Yola
3. There is no significant effect of the importance of entrepreneurial development in the promotion of economic development
4. There is no significant effect of the contribution Adamawa State government on entrepreneurship development
1.6 Significance of the Study
Every research undertaken is not done in isolation but for a purpose, as it will have a positive contribution to make both to the academic field and the society at large. This study, therefore, is not an exception. This study will improve the level of awareness of the subject the impact of entrepreneurship development on employment generation. Also, the findings of the study will guide policy makers on issues concerning entrepreneurship opportunity. Furthermore, the study will serve as a reference material for further research in related areas.
1.7 Delimitation of the Study
This research is designed to cover entrepreneurship development on employment generation in Yola. The study is therefore, restricted to Yola metropolis.
1.8 Limitations of the Study
The lukewarm attitude and the disappointments I received from some respondents served as major constraints. Other constraints are the death of literature on the subject, and the enormity of the finance required to visit study area several times to administer questionnaire and conduct oral interviews.
However, in-spite of these limitations, I believe that our approach of blending structured and unstructured interviews with emphasis upon both quantitative and qualitative materials, complemented with several visits to our case study has provided some useful information that will assist researcher in similar area of studies.
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