Effect of Entrepreneurial Development on Employment Creation in Japan

Abstract

Entrepreneurship development plays a considerable role in all modern economies. High cases of unemployment all over the world have necessitated entrepreneurial development. Thus, the study examined the effect of entrepreneurial development on employment creation in Japan. The study adopted the descriptive research design. The target population was 297 entrepreneurs based in Tokyo. The collection of the data was done using questionnaires. The study purposively picked the respondents. The analysis of the data was done using descriptive and inferential statistics. The study findings showed that entrepreneurial development is positively and significantly related to employment creation (β=0.875, p=0.002). The study concluded that when entrepreneurial development increases by one unit, employment creation will increase by 0.875 units while holding other factors that influence employment creation constant. The entrepreneurial development efforts play an important role in employment creation. Entrepreneurship activities in Japan have created employment in areas. The growth of entrepreneurship brings about the creation of supplementary businesses that provide raw materials like power and other industrial services like product packaging, marketing, insurance, micro-finance institutions and banks, logistics and communication. Entrepreneurship brings about income empowerment in a country. The study recommended that the government try to raise the number of entrepreneurial development training centers in Japan to enroll many jobless young people. Financial policies should suit small and medium-scale investments in entrepreneurship activities with potential. Entrepreneurship education ought to be given top priority beginning with primary to the tertiary level curriculum. It is also recommended that there is a need for sustained initiatives by government and non-government institutions towards creating entrepreneurship programs to come with proper activities, achieve comprehensive development, and create employment opportunities. Keywords: Entrepreneurial Development, Employment Creation, Tokyo, Japan