THE PROBLEM AND PROSPECTS OF ENTREPRENEURSHIP DEVELOPMENT IN ENUGU STATE.

(A CASE STUDY OF ENUGU SOUTH LOCAL GOVERNMENT AREA)

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ABSTRACT

This study was conducted to determine some base line data essential for improvement of poor entrepreneurial development in Enugu south Local Government Area.

To solve the research problem, both primary and secondary data were collected. The researched instrument used in collecting the data was questionnaires the respondent were selected entrepreneurs in Enugu south local government Area.

In organizing and presenting data colleted, tables and percentages were used. Two hypotheses were tested using the chi-square method.

Population for this study was drawn from six (6) communities in Enugu South but for the purpose of this work, the researcher utilized only the registered entrepreneurial business with the revenue unit of Enugu south Local government Area.

The Population covered is so while the sample size is 67 which 40 of the 67 questionnaires were returned while 27 were not seen.

Data analysis and interpretation were also treated.

TABLE OF CONTENTS.

CHAPTER ONE

Introduction 1

Back Ground of the Study. 1
Statement of the Problem 4
Purpose of the Study 5
Scope of the Study 6
Research Questions 6
Significance of the Study 7
Limitations of the Study 7
Definition of the Terms 8

Reference 11

CHAPTER TWO

Review of Related Literature 12

2.1 Review Related Literature 12

2.2. Meaning and Scope 15

Characteristics of a Successful Entrepreneur 17
Function of Entrepreneur 18
Basic Factors Entrepreneur Should Consider Before

Embarking on any Business. 20

Sources of Fund Available to An Entrepreneur. 21
Problems of Nigeria 22

Reference 25

CHAPTER THREE

Research Design and Methodology 27

Research Design 28
Area of Study 28
Population of the Study 29
Sample and Sampling Techniques 29
Sources of Data Collection 30
Validation of the Instrument 32
Reliability of the Instrument 32
Method of Data Collection 33
Method of Data Analysis 34

Reference 36

CHAPTER FOUR

Data Presentation and Analysis, Chi-Square and

Tables Were Used. 37

Presentation and Analysis 37
Testing of Hypothesis 52
Summary of Results. 58

CHAPTER FIVE

Discussion, Recommendation and Conclusions 59

Discussion of Results/ Findings 61
Conclusion 61
Implications of the Research Findings 62
Recommendations 63
Suggestions for Further Research 64

Bibliography 65

Appendixes 68

CHAPTER ONE

INTRODUCTION

BACKGROUND OF THE STUDY

The entrepreneur plays a vita role in the process of economic growth and development.

Iwu Eze A. [1986] in a paper presented in on entrepreneurship development in Nigeria said that an entrepreneur is a contractor, an organizer of an enterprise for the public, a resourceful person with a dream. Entrepreneurs are bold men and woman who have initiative and the ability to lead, manage and take the consequences. They are men of action, risk takers, missioners, creative and highly respected of their ability to effectively and efficiently concubine the functions of management to achieve the go alls].

He also noted that during the colonial period, only few of Nigerians could boast of personal or family capital to start off any meaningful business and hence the next place of call for business and financial was bank. It is a well known flat that banking operations during the colonial era were highly and sparsely limited urban centers. The bank at that time existed to serve the internets of the colonial civil servants who had appreciated incomes to warrant banking transaction Nigerians who had no collaterals or big financials to guarantee their loans could not hope on banks to start off any business.

During the colonial era, the Nigerian businesses scene was dominated even at the grassroots levels by inclines, Greeks, Ghanaians, Sierra Lonians and others. These foreign nationals had a better exposition from the Nigerians and with this advantages, it was easy to dislodge them when the colonials left the scene in 1960. Then, in other to give Nigerians an opportunity in participating and shaping their country economic future, the federal government introduced indigenization and enterprise promotion dance of 1972 and it’s revision in 1977. The objective was to foster economic self-reliance and maximize external intervention in politics.

Against, the national development plans were introduced and also in July 1986 SAP [structural adjustment programme] was introduced. Entrepreneurship constitutes a vital engine in the economic growth and development of nations including Nigeria because it helps in the stimulation of indigenous entrepreneurship, leads to the transformation of traditional industry, creates employment opportunities, generates incomes [locally and externally] contributes to regional activity and co-operation etc.

According to Ani N.B. [1999,5,7] said that entrepreneurship started when people produced more products than they needed and as such, had who also these surpluses with others who also wanted to dispose of their surpluses. For instance, if a black smith produced more hoes then he needed, he exchanged the surplus he had with what he specialization. This process is known as trade by barter before the advent of any form of money.

Modern entrepreneurship in Nigeria started with coning of the colonial masters and during the era, Nigeria was not their own masters. An entrepreneur often needs starting capital, which is normally small and derived from personal savings or from family sources.

Concrete attempts at encouraging the growth and development of entrepreneurship have led to the establishment of some government agencies as industrial development [I.D], small scale industry corporation [SSIC], Nigerian bank for commerce and industries [NBC], national economic reconstruction fund [NERFUNA] directorate of foods, roads and viral development [DFRRI] etc.

All these have been made to ensure the sustain ace and growth of small and medium scale enterprises in the country.

STATEMENT OF THE PROBLEM

Entrepreneurship developed which forma the bedrock of all business evolutions and economic miracles of the nation has its peculiars problems, which go a long way in satisfying its growth and development among which are:

a. The most problems of entrepreneurship development are lack of fund and difficulty in securing loans from banks.

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