Abstract
The study examined the effect of rural entrepreneurship development on poverty alleviation and employment generation in Oyo State, Nigeria. The assortment of ten LGA was purposive due to their ruralness. In each of the purposively selected LGAs, fifty (50) entrepreneurs were selected through simple random sampling technique from their co-operative societies, totaling five hundred (500) respondents. Data were sourced via a structured questionnaire and personal interview, while data analysis was performed with aid of simple percentage, frequency, weighted mean score, and ordinary least square. Result demonstrated that chance to create own fortune, determines the degree of their impact on rural business opportunities, profit attraction, more competitiveness in the region, self/dependent lifestyle, and continue the family tradition are important factors motivating them to build their business in rural areas. Result also showed that accessibility to, and unavailability of proper information is important challenges facing entrepreneurship development. Also the absence of government policies, hardships in availing government strategies, technological center, and lack of access to resources, transportation center are important challenges facing entrepreneurship development in the research area. Results also demonstrated that entrepreneurship development has a significant impact on poverty alleviation and employment generation. Subsequently, a study recommended that financial institution should be established in all rural areas throughout the Nation to dish free loans to rural areas and Ministry of Rural Development and Land Reform should be in increasing credit finance as well as borrowing via informal networking Keywords: Rural Entrepreneurship, Poverty Alleviation, Employment Generation, Financial Institution, LGAs. DOI: 10.7176/JESD/11-10-06 Publication date: May 31 st 2020
Highlights
Unemployment and poverty, inter socio issue that is related, are tendency which affects individuals in different depths and levels at different moments and phases of existence
The study examined the impact of rural entrepreneurship development on poverty alleviation and job creation in
The current study demonstrated that a chance to create their own luck, degree their impact on rural business opportunities profit attraction, more competitive in the area, self/dependent lifestyle and continue the family tradition are important factors motivating them to build their business in rural areas
Summary
Unemployment and poverty, inter socio issue that is related, are tendency which affects individuals in different depths and levels at different moments and phases of existence. The amount of association between poverty and in unemployment from the developing nations is frequently a matter of considerable debate. There's really no nation that's totally free of unemployment and poverty. It's essential to be aware that these threats of unemployment, social insecurity and offenses are the results of the underdevelopment of rural entrepreneurship. To support this statement, Ocheni, Atakpa, and Nwankwo (2012) confirmed that undergrowth of the rural communities has forced more qualified individuals to migrate from the rural communities into the significant towns and cities such as greener pasture, believing that wealth has always been concentrated in and around urban areas. There's the overall agreement between researchers who probably the most important components of the economic development plan are rural entrepreneurship (Adelakun, 2013; Cavanagh, Shaw and Wang, 2013; Frazier, Niehm and Stoel, 2012; Kolawole and Torimiro, 2005)
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