Entrepreneurship Development In Nigeria Research Articles

Credit Risk Management and Entrepreneurship Development in Nigeria: A Case Study of Small and Medium Scale Industries in Ondo State

The paper summarizes the arguments and counterarguments within the scientific discussion on credit risk management and entrepreneurship development in Nigeria with focus on small and medium scale industries in Ondo State. The objective of the study is to examine the effect of credit risk management on entrepreneurship development. The study adopted the use of descriptive statistics and regression analysis method to test the hypothesis formulated. The results indicated that entrepreneurship development is being hampered by ineffective credit risk management. The findings has shown that Small Scale Enterprise still suffers greatly from inadequate policy on fund raising, lack of risk management personnel, lack of credit advisory unit in loan houses and Inability to determine appropriate source of funding which significantly affects their level of development. The findings of this study have also found out that the Nigerian markets are filled with numerous business opportunities. Based on the findings, it was recommended that increased government support, uninterrupted power supply and communication link, provision of skilled manpower and computer wizard in operation of payment system, collaboration among banks, provision of adequate security and fight against corruption would assists and improve the growth and development of entrepreneurship in Nigeria.

ENTREPRENEURSHIP DEVELOPMENT AS A PANACEA FOR DEPRESSED ECONOMY

The study examined entrepreneurship development as a panacea for a depressed economy with particular reference to selected Small and Medium Enterprises in Anambra State Nigeria. The main objective of the study is to examine the need to cushion the adverse effect of depressed economy through entrepreneurship development in Nigeria. Related literatures were reviewed. The study adopted descriptive research method in which data generated through questionnaire and oral interview were analyzed. The population of the study was 160 owners and staff of small enterprises selected at random from their various firms. The hypotheses formulated in the study were testing ANOVA and Regression method. The study revealed that entrepreneurship development plays a key role in the process of economic development through employment creation, increase in investment and consumption of a nation thereby revamping the depressed economy. The study therefore concludes that entrepreneurship development remains a panacea for a depressed economy such as Nigeria. The study recommends that government should encourage entrepreneurship development through the provision of incentives to entrepreneurs and standing as a guarantor for loans given to aspiring entrepreneurs so as to improve their contribution to Gross Domestic Product.

The Role of Educational Institution in Fostering Entrepreneurship Development in Nigeria

The study examines the role educational institution plays in fostering entrepreneurship development in Nigeria. The study employed survey research design using primary source of data through the administration of structured questionnaire on twelve (12) selected Federal Universities from the total population of forty-three (43) Federal Universities as approved by the National Universities Commission (NUC, 2019). This was determining through the use of multi-stage sampling technique. The multi-stage sampling techniques are simple ransom and quota sampling techniques. The techniques were used to draw the sample size of five-hundred and four (504) respondents from sampled Universities. The total number of questionnaires that was returned is four-hundred and ninety-nine (499). Regression statistics and Analysis of Variance revealed the coefficient and P-value of vocational centre (0.154069951; P=0.0004950.05); professional entrepreneurs (0.162502515; P=4.9E-05>0.05) and seed capital (0.289112176; P=3.24E-11>0.05) respectively. This was an indication that there was a positive significant exists between the explanatory variables with entrepreneurship development in Nigeria at 5% level of significant. The implication is that the federal government should not only empower the youths but to invest in youth entrepreneurship because the youths are the future of the country. Based on these findings, the study therefore recommends that educational stakeholders should be monitoring the entrepreneurship activities in Nigerian Universities. They should also dwell more on practical training for students irrespective of their vocational area of study; and introduce some benefits to well deserving creative students in order to enhance the entrepreneurial culture among the students.

The Role of Educational Institution in Fostering Entrepreneurship Development in Nigeria

Abstract The study examines the role educational institution plays in fostering entrepreneurship development in Nigeria. The study employed survey research design using primary source of data through the administration of structured questionnaire on twelve (12) selected Federal Universities from the total population of forty-three (43) Federal Universities as approved by the National Universities Commission (NUC, 2019). This was determining through the use of multi-stage sampling technique. The multi-stage sampling techniques are simple ransom and quota sampling techniques. The techniques were used to draw the sample size of five-hundred and four (504) respondents from sampled Universities. The total number of questionnaires that was returned is four-hundred and ninety-nine (499). Regression statistics and Analysis of Variance revealed the coefficient and P-value of vocational centre (0.154069951; P=0.000495<0.05); entrepreneurship exhibition (0.368947844; P=9.03E-18>0.05); professional entrepreneurs (0.162502515; P=4.9E-05>0.05) and seed capital (0.289112176; P=3.24E-11>0.05) respectively. This was an indication that there was a positive significant exists between the explanatory variables with entrepreneurship development in Nigeria at 5% level of significant. The implication is that the federal government should not only empower the youths but to invest in youth entrepreneurship because the youths are the future of the country. Based on these findings, the study therefore recommends that educational stakeholders should be monitoring the entrepreneurship activities in Nigerian Universities. They should also dwell more on practical training for students irrespective of their vocational area of study; and introduce some benefits to well deserving creative students in order to enhance the entrepreneurial culture among the students.

Examining the role of public administration in promoting sustainable entrepreneurship development in Nigeria 1999–2018

Background: Nigeria has been described as among the leading economies in Africa, yet it has experienced cycles of economic boom and recession. Commercial capitalism has left the industrial sectors relatively underdeveloped. As is the practice elsewhere, sustainable entrepreneurship development is the foundation of industrial development. However, in Nigeria, this imperative need is faced with numerous challenges.Aim: Within the framework of development theory, this article examines the role of public administration in promoting sustainable entrepreneurship development in Nigeria, as well as challenges confronting public administrator’s role in this regard.Setting: This study was carried out using the qualitative desktop method in deriving data for answering the question. About 45 literature sources were consulted and analysed in order to explore the interface between public administration and sustainable entrepreneurship development in Nigeria.Methods: This article adopts a qualitative approach and is descriptive in nature, with the researcher setting out to illustrate the association that exists between the dependent and independent variables.Results: This article argues that the undeveloped state of the industrial sectors in Nigeria can be attributed to poor entrepreneurship development that could have served as the basis for rapid industrialisation in the country and the attendant effect of making the country one of the developed countries of the world. The poor state of entrepreneurship development in the country is traceable to factors such as irrelevant policy options and directions, poor funding of entrepreneurship development programmes, an ineffective education system, lack of reliable power supply, and the rentier nature of the economy.Conclusion: It concludes that public administration in Nigeria should ensure policy consistency in terms of continuity and stability, the development of an indigenous sustainable development paradigm, the prevention and punishment of corruption, improved funding of entrepreneurship development programmes and the provision of reliable electricity.

International Competition and Entrepreneurship Development in Nigeria

International Competition and Entrepreneurship Development in Nigeria

Social Media Use and Entrepreneurship Development in Nigeria: Lagos and Onitsha in Focus

Social Media Use and Entrepreneurship Development in Nigeria: Lagos and Onitsha in Focus

PROPOSING A MODEL FOR ENTREPRENEURSHIP DEVELOPMENT: THE ROLE OF ENTREPRENEURS’ CASH WAQF INTENTION

This paper aims to propose a model of entrepreneurship development by focusing on the role of cash waqf intention as a mediator on the relationship of cash waqf awareness, religiosity, attitude towards act, subjective norms, perceived behavioral and entrepreneurship development. By enhancing the theory of planned behavior, a structured question was designed to survey 459 Nigerian entrepreneurs. SEM analysis was used to test the theoretical framework and to propose a model of entrepreneurship development in Nigeria by means of Waqf. Result shows that the most important variables to explain entrepreneurs’ cash waqf intention for business growth are cash waqf awareness and attitude towards cash waqf. It is argued in this research that the presence of high level of cash waqf awareness and the attitude towards cash waqf can play an important role in achieving business growth. The paper extends the applicability of the theory of planned behavior, cash waqf awareness and religiosity in investigating the effect of cash waqf intention for business development.

Economic Environment and Entrepreneurial Development in Lagos and Ogun States, Nigeria

<p>The study empirically examines the relationship that exists between economic environment and entrepreneurial development in Nigeria. A structured questionnaire is administered on the study and data collected are analysed using Analysis of Variance and Regression. The following variables are indices of determination; Interest Rate (IR); Income Tax (IT).The results of the study show that there is a significant relationship between IR and ED in Nigeria (p<0.5) with a positive correlation (r=0.526, r<sup>2</sup>=0.276). Also, there is a significant relationship between IT and ED in Nigeria (p<0.05), with a positive association (r=0.546; r<sup>2</sup>=0.299). The study concludes that, the emergence of higher level of stable economic environment is critical to entrepreneurial development in Nigeria. Therefore, government involvement in public private partnership for infrastructural development, enlargement of productive, judicious and transparent use of funds collected from income tax and affordable interest rate will galvanise the inward sourcing of raw materials that boost entrepreneurial development in Nigeria. </p>

Technology Innovation and Sustainable Entrepreneurship Development in Nigeria: Stakeholders’ Impact Assessment in Central Nigeria

Technology Innovation and Sustainable Entrepreneurship Development in Nigeria: Stakeholders’ Impact Assessment in Central Nigeria

Deposit Money Banks and Entrepreneurship Development in Nigeria

This study is an attempt to examine the effect of deposit money banks on entrepreneurship development in Nigeria. The study adopted a descriptive ex-post facto research design while the data used were sourced from Central Bank of Nigeria (CBN) statistical bulletin (various issues), The National Bureau of Statistic (NBS) from 1992 – 2015. Both the descriptive statistical approach of central tendencies and dispersion and regression analysis were used for data analysis. The result of the regression result shows that deposit money bank credit has a significant positive effect on entrepreneurship development while saving and time deposits of deposit money banks also have a significant positive effect on entrepreneurship development. On the other hand, deposit money banks’ lending rate had a negative insignificant effect on entrepreneurship development, suggesting that deposit bank lending rate discourages investors, customers, business owners and entrepreneurs from taking loans. This study among others recommends that government should review and address the high lending rate charged by deposit money banks in Nigeria as it deters entrepreneurship development which is essential for economic growth for a developing country like Nigeria.

The Impact of Microfinance Bank on Entrepreneurship Development in Nigeria

This study examined the impact of microfinance bank on entrepreneurship development in Anambra State. To achieve the stated objective of the study, three research questions were formulated. The descriptive research design was adopted for the study. The population of the study was 734 staff of ten (10) selected entrepreneurial firms in Anambra State. It was impracticable to study the whole population therefore 259 staff was sampled using stratified sampling technique. Out of the 259 copies of the structured questionnaire administered to the respondents, 192 were completed and returned. The data obtained were analyzed using Pearson correlation for hypothesis one and ANOVA for hypotheses 2, and 3 respectively. The findings revealed that microfinance bank impact significantly on the development of entrepreneurship in Nigeria; that there are problems that militate against the effective financing of entrepreneurial businesses in Anambra State. Based on the findings, it was recommended that microfinance bank in Anambra State should be strengthened to embrace entrepreneurship devoid of imitation and vocational inclinations. Also adequate financial, physical and human resources should be provided by various stakeholders not only for potential but also for existing, start-ups and aspiring SMEs.

The Moderating Role of Government Policies on the Relationship between Technology, Innovation and Entrepreneurship Development in Nigeria: A Partial Least Square Approach

Given the economic realities in Nigeria, the country must constantly create new jobs, and diversify the industrial and commercial sector to take advantage of human and natural resources through entrepreneurship development. The present research aims to identify the role of government policies on the relationship between innovations, technology and entrepreneurship development in Nigeria. Questionnaire was distributed to Small and Medium Scale Enterprises (SMEs) in Osun State. Structural Equation Model was used to analyze data using Partial Least Square Method (PLS 3). The results based on findings shows that a positive significant effect was found between government support, innovation and technology on entrepreneurship development. Government policies were found to have fully moderate the relationship between innovation, technology and entrepreneurship development. Government polices was found to be the most explanatory variable of the study having the highest effect on the entrepreneurship development. Therefore, the study recommends that government should enact policies that will encourage and promote the use of technology and support innovative ideas to bring economic growth through entrepreneurship development.

Академическое предпринимательство и развитие бизнеса в Нигерии: миф или реальность? [На англ.

This paper examines the process of commercializing research output of University staff without violating the extant rules within the system as well as providing practical application of theories. The research also determines the extent to which University staff engages in entrepreneurial activities. A survey research design through convenient sampling technique was adopted for collection of primary data via closed-ended questionnaire administered to University staff across different disciplines in the selected Federal Universities in Nigeria (Obafemi Awolowo University, Ile-Ife; University of Ibadan; University of Lagos). Fifty Academics of senior lecturership status were purposively sampled in these three Universities. The data collected were analysed using descriptive and inferential statistics as appropriate to each of the research objectives. The formulated hypotheses were tested using correlation and regression analysis. It was observed from the results that, there exist a significant positive relationship between main academic responsibilities and entrepreneurial development in Nigeria. The study concluded that, encouraging proper assortment of academic and entrepreneurial activities will increase research driven production and service activities in the country, thereby stimulating more societal beneficial research and reducing unemployment in the long-run. The study therefore, recommends policy option for the encouragement of research output(s) commercialization which will ensure harmonious town and gown relationship, consequently, harnessing the full potentials of good research outputs from academics. In addition, there is need for more incubation centers across the Universities in Nigeria to stimulate nurturing and proper transition of research driven business ideas from the University to the industry.

Cost Accounting as a Vehicle for Entrepreneurship Development in Nigeria : An Empirical Study of Selected Entrepreneurs in Delta State

Cost Accounting as a Vehicle for Entrepreneurship Development in Nigeria : An Empirical Study of Selected Entrepreneurs in Delta State

Microfinance bank and entrepreneurship development in an emerging market

We determine how Microfinance Banks (MFBs) impacts on entrepreneurship development in Nigeria. Data were collected through structured interview from entrepreneurs, Microfinance Bank managers and Regulators. The finding revealed that non-financial services of Microfinance Banks contribute to the survival of entrepreneurs and there is indication that Microfinance Banks enhance the productivity of entrepreneurship. This finding supports the evidence from the Central Bank of Nigeria (CBN) that there is an increase in total assets, Investment and Deposit Liabilities of MFBs in recent times. Beside this, respondents claimed that influence and control over entrepreneurships financing by Microfinance Banks should be view as partially effective. This result suggest that although Microfinance Banks in Nigeria are trying their best, there is need to put more effort in order to meet total demand of financing the entrepreneurships in Nigeria. We recommend that MFBs should assist their clients by providing training on credit utilization and the government should urgently tackle the problem of infrastructure development and maintenance.

ENTREPRENEURSHIP AS DRIVERS OF GROWTH, WEALTH CREATION AND SUSTAINABLE DEVELOPMENT IN NIGERIA

Entrepreneurship is a veritable tool for the achievement of inclusive growth and consequently sustainable development. There are many opportunities entrepreneurs can harness in Nigeria given the demographic dividends. In fact, the youths constitute about 60 percent of the Nigerian population. Opportunities include but not limited to agriculture, creation of place utility for manufactured products (toiletries, beverages among others), repairs and servicing of mobile phones, computers, generators, cars etc. However, because of the deplorable state of wellbeing in the country, a sizeable number of youths are now being employed as touts and thugs by politicians to cause chaos at rallies. The rising wave of crimes in the form of electoral malpractices, commercial violence or economic terrorism and motor park rent seeking among others are common cases to ponder. The huge infrastructure deficits (road, power, water etc.), inadequate access to credit and disastrous policy regime constrain entrepreneurial development in Nigeria. The study therefore recommends public-private partnership in wealth creation towards achieving enhanced and sustainable economic wellbeing. There is the need to fight corruption heads on by taking the fight to the grassroots. Government should put entrepreneurs at the centre of trade and commerce policy formulation and implementation.

Entrepreneurial Development Deficiencies in Developing Economies – Nigeria in Focus

Government and private sector agencies have made quality investments in entrepreneurial development in Nigeria. This is inclusive of providing enabling environments. In the presence of these, the rate and level of growth and development in entrepreneurship as factors for social economic macro societal development is still poor. This work with the aid of well structured sets of questionnaires, structured interviews and observations generated and analyzed data based on ‘z’ statistic that show deficiencies in entrepreneurial strive which are development traceable to inadequacy in strategic alliances between existing institutions involved in the development of entrepreneurship in Nigeria. In addition, is absence of quality network for the maximization of economy scale in resource utilization among others? This work thus recommends the establishment of functional institutions based on acceptance policies that encourage education of and among entrepreneurs for specialization and project execution, quality growth in networking among natural and artificial persons involved in the programmes of entrepreneurial development among others. These as recommendations have the capacity of stimulating entrepreneur behaviours for the discovering and satisfying unsatisfied markets even in the face of risks and uncertainties and for entrepreneurial development.

Harnessing the potentials of technology incubation centres (TICs) as tools for fast-tracking entrepreneurship development and actualisation of the Vision 20:2020 in Nigeria

Purpose – Entrepreneurship development in Nigeria requires the adoption and assimilation of enterprise development models from nations with replicable success stories. Technology incubation centre (TIC) is one of the potent mechanisms that launched the “BRIC nations” – Brazil, Russia, India and China – to global prominence as the five biggest emerging economies. This paper attempts to unveil the potentials of TICs as novel tools for entrepreneurship development and actualisation of the Vision 20:2020 in Nigeria. Design/methodology/approach – The authors adopt analytical and discursive approaches using qualitative and quantitative data sourced from Industrial policy documents, Goldman Sachs report, online databases of government agencies, Vision 20:2020 policy document and published articles on the subject matter. The generated data were subjected to content and thematic analyses, on the basis of which relevant conclusions were drawn. Findings – The findings from the research indicate that there are 37 TICs in Nigeria with very weak socio-economic impact on job creation, wealth creation and industrial development in Nigeria. However, for the BRIC nations, adopted as comparative models, TICs have impacted positively on job creation, wealth creation and economic development of the five nations. Research limitations/implications – The paper is essentially discursive and subjective. Further research on this subject matter should explore empirical analysis for an objective assessment of the situation. Practical implications – This paper underscores the need for harmonisation of policy objectives with policy implementation. At present, there are gaps between TIC policy objectives and woeful performance of the 37 TICs in Nigeria. Social implications – For Nigeria, to enhance job creation, wealth creation and economic development in the society, there is the need for functional TICs at local, institutional, regional, state and national levels. Originality/value – The paper unveils the gap between economic theory and practical model implementation in developing economy (Nigeria). It is a major contribution to the functionalist and structuralist debates on why policies fail.

Entrepreneurship Development in Nigeria: Prospects and Challenges

This paper underscores the importance of policy formulation in entrepreneurship development in Nigeria as well as the importance of entrepreneurship in reducing the evergrowing rate of unemployment in Nigeria. The methodology adopted for this paper is the narrative-textual case study (NTCS); it is a social science research method that relies on information and data from several sources for problem identification and problem solving. The paper opines that entrepreneurship is lacking in Nigeria due to certain challenges such as epileptic power supply, lack of genuine support for those intending to start up a business, lack of strong willed-power to take risk; all these and more inhibit entrepreneurship development and creates unemployment. The paper concludes that government policy on entrepreneurship should be more robust and that government should create conducive business environments to enhance entrepreneurship development and reduction in youth unemployment.