ENTREPRENEURIAL DEVELOPMENT INITIATIVE ON MICRO ENTERPRISE SUSTENANCE IN NNEWI, ANAMBRA STATE, NIGERIA

Abstract

In recent times, the important of entrepreneurship, development cannot be over emphasized. Entrepreneurship development has been found to be panacea through with job could be created and poverty reduced to the minimum. The broad objective of the study was to examine the entrepreneurial development initiative and micro enterprise sustenance in Nnewi, Anambra State. The hypotheses were developed as State Economic Empowerment and Development Strategy (SEEDS) initiative has no significant effect on micro enterprises in Nnewi, Anambra State. There is no significant relationship between National Poverty Eradication Programme (NAPEP) initiative and micro enterprises sustenance. The sample size for the study was 350. The hypotheses were analyse with regression analyses, correlation model. The findings revealed that the NAPEP initiative employed in the study area do have a significant relationship with the micro enterprises sustenance. The findings also revealed that the major challenges faced by the micro enterprises are lack of capital and lack of stated business mission, which are the topmost challenges faced by majority of enterprises. It was recommended that government and other policy makers at all level should intensify and ensure that more micro enterprises benefit from the SEED initiative in place already, and if possible initiative new ideas, since it has shown positive effect on the delivery of the core mandates of micro enterprises, which brings about creation of employment, poverty reduction, economic development, etc. Based on the result from the findings, it is also recommended that upcoming micro enterprises should be encouraged through sensitization, financing, provision of necessary facilities etc. in order to reduce if not eradicate poverty level in the area , as it has been shown that NAPEP initiatives have relationship with the sustenance of micro enterprises.