ENTREPRENEURIAL DEVELOPMENT INITIATIVE AND MICRO ENTERPRISE SUSTENANCE IN AWKA METROPOLISES

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ENTREPRENEURIAL DEVELOPMENT INITIATIVE AND MICRO ENTERPRISE SUSTENANCE IN AWKA METROPOLISES

CHAPTER ONE

INTRODUCTION

1.1. BACKGROUND OF STUDY

In recent times entrepreneurs have been referred to as necessary pre-requisite to mobilize capital exploit natural resources and create markets to carry on trade (Harbison & myers 2004). 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 linked to the overall industrial development of a nation, some of this characteristics are risk-takers, decision-maker, perseverance, organizers and planner, innovative function, and Gap filling ability.

However, successive government in Nigeria has introduced various entrepreneurial developments. These programmes include Family Economic Advancement programmes (FEAP) Structural Adjustment Programmes (SAP) Green Revolution Programme (GRP) National Economic Empowerment and Development Strategy (NEEDS) at national level, State Economic Empowerment and Development Strategy (SEEDS) at state level and Local Economic Empowerment and Development Strategy (LEEDS) at local government level, Poverty Alleviation Programme (PAP), and most recently, the National Poverty Eradication Programme (NAPEP). These programmes failed to achieve their objectives because of poor design; it was in realization of the scenario that the Federal Government of Nigeria announced the inclusion of entrepreneurial education in higher institutions of learning as a way of promoting entrepreneurial spirit among Nigeria youths to take up self employment. This has led to the launching of programmes such as youths enterprise with innovation plan aimed at job creation and micro enterprises by encouraging band supporting aspiring entrepreneur youth in Nigeria to develop and execute business ideas (Flippo E 2008), micro enterprises is a relative concept because t varies among countries and within a particular country per time. For instance, a small or medium size enterprise in an advanced country like United State of America or Britain can be considered a large scale industry in Nigeria (Ogundele 2002). National Economic Reconstruction Fund (NERF) sees micro/cottage enterprise as the smallest carder in the level of business range with a maximum capital of N1,000,000.00 (one million naira) and maximum labour of ten. Small and Medium Enterprise Development Association of Nigeria (SMEDAN) helps to promote Entrepreneurship culture through initiative that build business confidence, positive attitude, pride in success, support and encouragement of new ideas, social responsibility, providing inter firm linkage and promotion of research and development. Finally, since entrepreneurship Nigeria is assumed to play a role of solving the problem of employment generation, facilitators of Economic recovery, National Development and poverty reduction stakeholders must come to agreement on entrepreneurial development initiatives because it is a harbinger of economic reconstruction and transformation (ihua, 2009).

1.2. STATEMENT OF PROBLEM

The increasing incidence of poverty in Anambra State was in spite of the various resources and efforts exerted on poverty related and micro enterprises programmes and schemes, in the country. This suggests that the programmes and schemes were ineffective and ineffectual, despite the huge resource invested in them. It is either the government is playing politics to their initiatives y laying lip services to the programmes, thereby making its existence only in theory, or not supporting the plan with enough resources. However, some government officials misappropriate the limited resources, enriching themselves and entrepreneurship cannot be developing in isolation with the right policies and opportunities that serves as engine room for its growth.

It is a known fact that poverty constitutes an obstacle to rapid economic development in the state. Poverty is also directly responsible for the crimes in the city as well as rural areas and manifest itself in prostitution, thuggery, exposure to risk, corruption, robbery and fund (popularly called 419), street life, drugs and so n. This is as a result of unfulfilled aspirations result from unemployment, lack of adequate access to resources to start-up micro businesses (Osemeke, 2012).

1.3. OBJECTIVE OF THE STUDY

The broad objective of the study is to examine Entrepreneurship development initiatives and micro-enterprises sustenance in Awka Metropolis, Anambra State.

The specific objectives of the study are:

Determine the entrepreneurial initiatives that can sustain micro-enterprises.

Investigate the extent entrepreneurial initiatives can reduce unemployment.

Identify the challenges of entrepreneurial development initiatives on micro enterprises sustenance.

1.4. RESEARCH QUESTION

To know whether entrepreneurial initiatives can help to reduce unemployment.

To know to a very large extent how entrepreneurial initiatives can sustain micro enterprise.

1.5. HYPOTHESIS OF THE STUDY

H0: Entrepreneurial initiatives do not influence the development of micro enterprise in Awka Metropolis.

H1: Entrepreneurial and initiatives influences the development of micro-enterprise in Awka Metropolis.

1.6. SCOPE OF THE STUDY

The study will cover entrepreneurial development initiatives and micro-enterprise sustenance in Awka Metropolis for the year 2016.

1.7. SIGNIFICANCE OF THE STUDY

This study will be of great benefit to micro entrepreneurs in their business, it will provide them with basic information about entrepreneurial initiatives and how they affect their business. It will give them full information on:- entrepreneurial initiatives and how micro-enterprises can be sustained. This research work will be to an extent provide the youth a path-way to entrepreneurship development by giving them full information on how it can help reduce unemployment. It will provide the government with full information on the needs and problems of entrepreneurial development initiatives for micro-enterprises.

Finally, it will serve as a source of reference to readers and researchers who will be interested in writing a related topic.

1.8. DEFINITION OF TERMS

Entrepreneurship: entrepreneurship is an undertaking in which one is involved in the task of creating and managing an enterprise for a purpose (Ogudele 2004).

Entrepreneur: they are agents who performs a vital role in the economic growth of a country and are linked to the overall industrial development of a nation (Harbison & myers 2004).

Micro–enterprise: it is a business range with a maximum labour of Ten (NERFUND).

Agwu M.O and Eneto C.I ( 2014) Challenges And Prospects Of Smes In Port

Harcourt City, Nigeria. European Journal Of Sustenable Development 3 101-114

Harbison and Myers ( 2004) Entrepreneurs As Agent Of Change Of Economic

Change. Longman 2004.

Ihua ( 2009) Entrepreneurship, Economic Development And Reconstruction

Gethsemane Publishing, Enugu.

Osemekem (2012) Entrepreneurial Development Interventionist Agencies In

Nigeria. International Journal of Business and Social Science

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