ROLE OF ENTREPRENEUR IN THE STIMULATION OF ECONOMICS GROWTH: A CASE STUDY OF UGO COMMUNITY ORHIONMWON LOCAL GOVERNMENT AREA OF EDO STATE
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ROLE OF ENTREPRENEUR IN
THE STIMULATION OF ECONOMICS GROWTH: A CASE STUDY OF UGO COMMUNITY ORHIONMWON
LOCAL GOVERNMENT AREA OF EDO STATE
ABSTRACT
The study examine the role of entrepreneur in the stimulation
of economic growth in Ugo Community, Orhionmwon Local Government Area of Edo
State the research instrument used includes questionnaires interview and
participant observation, in order to collect the data for the study, some
research question addressed these includes.
How does the entrepreneur stimulate economic growth of the
study area?
Does the entrepreneur focus on the function of the individual
alone?
What are the roles of the banking industries in the economy?
The data collected were analyzed using simple percentage
tabulation method sixty (60) respondents were randomly selected from the study
area. Finally some recommendation was proffered to alleviate the identified
problem.
TABLE OF CONTENT
CHAPTER ONE
Introduction
Background of the study
Statement of the problem
Purpose of the study
Basic assumption
Hypothesis
Significance of the study
CHAPTER TWO
Literature review
CHAPTER THREE
Methodology
Population and sample of study
Data collected
Research instrument
Method of data analysis
CHAPTER FOUR
Data analysis and discussion
Obstacle to instructional materials provision
Instructional materials as learning facilitation
CHAPTER FIVE
Findings
Summary
Conclusion
Recommendations
REFERENCES
QUESTIONNAIRE
CHAPTER ONE
INTRODUCTION
BACKGROUND OF THE STUDY
Since ancient times man has designed ways of surviving in his
environment gathering food and hunting for games. As years go by, he modifies
his survival techniques from being a wonderer and shifting cultivating to a
sedentary/intensive farming, arts and crafts. His pragmatic disposition has
resulted in innovative and better ways of harnessing the opportunities and
potentials of environment for welfare maximization and economic development.
The industrial revolution of the late 1780s in Europe and early 19th century in
America influences significantly work ethnics, organizational behave, thinking
and management of productive resources (land, labour, capital and
entrepreneur). Thus, the phenomenon growth of the economy is attributed to
enterprising management of resources where entrepreneurship factor is a very
important factor of production that co-ordinates sometime idle factors of
production such as land labour and capital (Eshiobo 2010).
In the work of say in 1803, as cited by Hisrich and Peters
(2002), an entrepreneur is someone who consciously moves economic resources
from area of low yield of to area of high yield. He redeploys people, materials
money and co-ordinates the processes necessary for efficient large scale
industrial trade development. Joseph Schumpeter (1987) addled that the
entrepreneurship is the motive behind capital development.
Entrepreneurship pervades all economics (though more with
free market or capitalist economics) and its considered as the bedrock of
modern economic development through innovation and technological brake through
and by developing untried technologies. The entrepreneur in his entrepreneurial
activities can bring about increase in production create employment income
facilities rapid growth of small, medium and large scale enterprise to reduce
poverty and hunger among people given this background it is thus imperative to
explore the extent to which enterprise/industries in Nigeria, entrepreneurship
generally are vital to the economy of a nation with respect to economic growth
and poverty reduction in as much as the government of a country is required to
provide the enabling environment for entrepreneurship development in term of
favourable financial economic, social-cultural legal policies and functional
infrastructure (Coleman and Kofi, 2008 Tganija 2008; Stephen and Wilton 2006,
William and Thawachai 2008) entrepreneur themselves have roles to place so as
to compliment government effort in enterprise/industrial development.
These includes
making good business decisions having the right motive making effort to acquire
the right needed education and training, business experience or skills,
innovation, market information , social networks and so on.
NIGERIA YOUTH AND ENTREPRENEURSHIP
The development
process of any country is determined by the way the production force in and
around the economy is organized for most countries, the development of industry
depend a great deal on of private sector. Entrepreneurship has played a major
role in this regard entrepreneurship is known as the capacity and attitude of a
person or group of persons to undertake ventures with probability of success
degree or risks be a good leader in addiction to being highly innovation.
Since
entrepreneurship has to deal with leadership ability always determines a person
level of effectiveness. The personal and organization effectiveness is
proportionate to this strength of leadership and there is no success in any
entrepreneurship venture without leadership. Entrepreneurship in business
management is regarded as the “prime mover” of a successful enterprise just as
a leader in any organization must be the environment changes agent; many young
Nigerians aspire to be successful entrepreneur. But due to certain constraints
the ability of many prospective youth to find avenues to utilize their
opportunities and skills has proved futile. Entrepreneurship in Nigeria is
perceived as a major avenue to increase the economic growth, create job
opportunities, and reduce import of manufactured goods and decrease the trade
difficult that result from, such import. Two approaches have been used for
entrepreneurship development in Nigeria. One of the approaches is concerned
with the provision of generous credit facilities for small scale industrialism.
The aim of the scheme was to give entrepreneurs seed money. The second approach
was the establishment of training centre (IDC) the idea of this centre was to
provide facilities for no-the-job training of entrepreneurs especially those in
the informal sector which includes petty trader, artisans, peasant farmers etc.
and train them in various aspects of industrial management, unfortunately, due
to certain factors which shall be explained under are responsible for the non
achievement of these policies.
STATEMENT OF PROBLEM
Entrepreneurship activities bring about
business and production innovation with resultant growth in enterprise and
industrial organization development in Nigeria is a starter as the indigenous
entrepreneur were never allowed to develop by the colonial entrepreneurs
(Eshiobo SS 2010). The role of entrepreneurs in the country economic growth
cannot be over emphasize, this than spawn the interest in investigating the
type or category of entrepreneur available to the study area as this will go a
long way in determining the role the entrepreneur plays in the stimulation of
economic growth in the study area.
OBJECTIVE OF THE STUDY
To examine the type entrepreneur available in the study area.
To determine the contribution of entrepreneur to
organization.
To examine the problem faced by the entrepreneur.
RESEARCH QUESTIONS
What are educational qualifications of the entrepreneurs
present in the study area?
What are the functions performed by the entrepreneurs in the
study area?
Are the entrepreneurs in the study area paid according to the
function carried out?
What are the challenges faced by entrepreneurs in the area of
study?
SIGNIFICANCE OF THE STUDY
This study is embarked upon to determine the role of
entrepreneur in the stimulation of economic growth in the study area knowing
the contribution and role the entrepreneur’s plays will make the government,
private and individuals appreciate them more.
The study will also reveal the problems the entrepreneur are
facing as well as proffer solution that will assist the owner of a business
organization in getting the best form its entrepreneurs.
SCOPE OF THE STUDY
This study is limited to the role of entrepreneurs in the
stimulation of economic growth the study will investigate into the types of
entrepreneur available to organizations in the study area as well as the
problem faced by the entrepreneurs in Ugo Community Orhionmwon Local Government
Area council of Edo State.
1.8 DEFINITION OF TERMS
Money: Is any commodity that is generally accepted as payment
for goods and services and settlement of debts in a given country or
socio-economic context.
Employment: The act of employing or state of being employed
the work or occupation in which one is employed.
Economic: Is the social science that analyzes the production,
distribution and consumption of goods and services.
Entrepreneurs: A person who organizes and manages a business
undertaking assuming the risk for the sake of profit.
Indigenous: Means original and living naturally in an area or
environment.
Income: The amount of money or it equivalent received during
a period of time in exchange of labour or service.
A small scale business: This is a business that is privately
owned and operated with a small number of employees and relatively low volume
of sales.
Environment: The surrounding where one dwells.
Traders: A person who buy and sells thing as a job.
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