THE NEED FOR THE DEVELOPMENT OF ENTREPRENEURSHIP IN A DEPRESSED ECONOMY


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THE NEED FOR THE DEVELOPMENT OF ENTREPRENEURSHIP IN A DEPRESSED ECONOMY                                                                  

AbstractThis research work tired to evaluate the extent of development in Entrepreneurship in a depressed economy like Nigeria. A closer and pragmatic approach was used by using Nigerian Association of Small-Scale Industrialists (NASSI) Enugu State Chapter. NASSI has been seen as one of the nations governmental agency involved in manpower development and training and financing small-scale industrialists.A lot of literatures by different authors were consulted in reviewing the related literatures based on these subheadings.a. Meaning and history of entrepreneurship development in Nigeria.b. Meaning and functions of an entrepreneurshipc. Qualities of an entrepreneurd. Activities of NASSIe. Problems of NASSINevertheless, Nigerian Association of Small-Scale Industrialists (NASSI) is faced by some problems such as:i) Poor fundingii) Poor means of transportation and communicationiii) No accommodationiv) Bad road network in Enuguv) Poor business activities etcLooking at this the following is being recommended for improving this developmental objective.a. Government commitment it developing the sector, this giving the much desired self-reliance a priority by investing in the project.b. The entire citizenry are enjoined to be creative thus being involved in creation of opportunities for self-reliance rather than relying on government and other big companies for their jobs.c. The provision of an organized loan-revolving scheme, thus making it mandatory for benefactors to repay in time.d. Nassi should as well try and organize their curricular towards giving trainings that are practical and not theory so as to feel the impact soonest. And finally the need to inculcate into our psych and schema the need to be technologically self-reliant.However therefore, the research is suggesting that further studies could be done on this by evaluating the impact of small-scale enterprises in the economy. And the prospects of the Nigerian Entrepreneur in a depressed economy.Consequently, the research solicits for NASSI to be more pragmatic in their operation vis-à-vis the decree of which they were established and then government in its own effort to try and create an enabling environment for entrepreneurship development. In this words Abrahim Maslow (A psychologist known for his theories regarding human needs) “indicated that the most valuable 100 people to bring into deteriorating society would not be economists, or politicians or engineer rather 100 entrepreneurs.” Table of ContentTitle PageDedicationApproval PageAbstractAcknowledgmentTable Of ContentsChapter One:1.0 Introduction1.1 Background Of The Study1.2 History Background Of The Case Study1.3 Statement Of The Problem1.4 Objective Of The Study1.5 Significance Of The Study1.6 Formulation Of Hypothesis1.7 The Scope Of The Study1.8 Limitations Of The Study1.9 Definition Of TermsChapter Two2.1 Meaning And History Of Entrepreneurship Development In Nigeria2.2 History Of Entrepreneurship Development In Nigeria2.3 Meaning And Functions Of An Entrepreneur2.4 Functions Of An Entrepreneur2.5 Activities Of The Nigeria Association Of Small-Scale Industrialists (Nassi) In The Development Of Entrepreneurship2.6 Problem Of Nassi In The Discharge Of Entrepreneurship Development In Enugu2.7 Comments2.8 ReferenceChapter Three3.1 Method Of Data Collection3.2 Population Of The Study3.3 Sample And Sample Techniques3.4 Research Instruments3.5 Method Of Data AnalysisChapter Four:4.0 Data Presentation And Analysis4.1 Test Of HypothesisChapter Five:5.0 Discussion Of Findings And Recommendation5.1 Discussion Of Findings5.2 Summary And Conclusion5.3 RecommendationChapter One1.1 INTRODUCTOPNBACKGROUND OF THE STUDYThe need to incorporate in our system the need to be technologically self-reliant cannot be over-emphasized. The first step is to develop our human and natural resources, thus increasing our per capital income. In the past even years, or more, especially during the administration of Ibrahim Babangida, Nigeria has constantly pursued an economic policy that is geared towards self-reliance for the individual as show by such programmes as the National Directorate of Employment (NDE) which is a graduate assistance scheme aimed at helping young school leavers to acquire necessary skills and funds that will help them to start their own business, other programmes with such mission include the people bank, Family Economic Advancement Programme (FEAP) and Nigerian Association of Small-scale Industrialists (NASSI).The entrepreneur and his activities forms an integral part in the development of our economy. At this point, it becomes pertinent to define who is an entrepreneur and why we are having an insight into his plight to actualize the aims and objectives of its existence.Nwana, L.E. (1995:32) defined an entrepreneur as an individual who is willing and able to take business risks for gainful purpose”.Despite the aspirations of many, only a few people in this country and indeed Enugu our place of concentration has carried out their intention of having business established by them. Studies have been shown that 90% of these who seriously decided to incorporate a company five or more years ago have not yet done so. In Enugu state our emphasis will concentrate on the Nigerian Association of Small-Scale Industrialists (NASSI) Enugu State chapter, formed in 1978 owing to the creation of Enugu State in 1991, the Enugu office was established, to represent the organized small-scale industrialists in the state, thus tries to uplift the status of this sector.The NASSI has its chapter in all the seventeen (17) local government areas of the state aimed at inculcating into our society, the spirit of owing and controlling business at the grass root level, to facilitate the much desired self-reliance on our locally made goods and services, self-reliance on the national economy as show in the policies of banning the importation of certain goods into this country, the Structural Adjustment Programme (SAP) which among other things aims at sourcing of our own raw materials for the industries locally, though many see it as backward integration the maintenance culture is also part of our attempts so self-reliance.Based on the indeginisation policy that brought into existence, the Nigerian Enterprise promotion decree of 1972, which aims at encouraging and giving Nigerians the skill and knowledge to own and control their own business. Although all the aims and objectives of this dream has not come to fruition, since about 75% of Nigerians and indeed in Enugu has not realized their dream of owning and controlling a business of their choice (Igboeli J. 1995).1.2 HISTORY BACKGROUND OF CASE STUDYThe Nigerian Association of Small-Scale Industrialists (NASSI) was found in 1978 by the Federal Military Government of Nigeria through the Centre for Management Development (CMD) to represent the organized small-scale industrialists in the country and thus uplift the status of the industrial sector.In 1979, the Anambra State chapter was constituted, owing to the creation of Enugu State out of former Anambra State the Enugu State Chapter came into being in 1991. this association has its office situated at 30 Zik Avenue, Enugu to oversee the affairs of the members in Enugu State. The Nigerian Association of small-scale industrialists has chapters in all the 17 local governments of Enugu State. The person at the helm of affairs at the state level is called the state chairman while local government chapters are manned by local government coordinators.NASSI is on the vanguard of Industry Development to enlighten from the grassroots, entrepreneurs and to articulate them for gainful purpose. It also collaborates with foreign bodies to formulate business plan for members.1.3 STATEMENT OF THE PROBLEMThe statement of this research work include the following:1. How developed is the Enugu Entrepreneur, even at the emergence of NASSI?2. With what government has done so far through NASSI, has it been able to carry-along these entrepreneur. As regards, manpower development, financial and technical aids.3. If develop, to what extend has this development been able to put the Enugu entrepreneur in track of self-reliance?4. Will the shortcomings be ascribed to the government and non-government agencies that support them or to the entrepreneurs themselves?5. In such a depressed economy how is the entrepreneur surviving.1.4 OBJECTIVE OF THE STUDYThe need to develop entrepreneurship in the Nigerian economy cannot be over-emphasized, because there in lies our hope of National growth. The objective of this research includes the following.1. To critically analyse the activities of entrepreneurs in Enugu, in relation to the overall objective of government programmes and policies.2. To know how the efforts of government to develop entrepreneurship is progressing.3. To identify the problems that has been militating against the development of entrepreneurship in Enugu and Prefer solutions.1.5 SIGNIFICANCE OF THE STUDYIn such a depressed economy like ours, the need to rush paid jobs with or without personal initiatives is setting ourselves in a wrong direction. Hence all governmental efforts to provide loans and incentives to persons who are willing to own and control business.It is also in record that this present administration even though military has a clear idea of what it will take into put Nigeria on her road to both political stability and economic growth. Obviously, this administration has steadfastly created good economic and social environment for real economic growth for all. This is born out of recent experience of European and American business at large number to discuss business with our private and public agencies. Also creditors are either canceling our debts or converting them into long term loans with these favourable conditions in mind, economic theories of development suggest that a rapid growth would occur if the available resources (human and material) are completely and judiciously explored and utilized for the production and distribution of goods and services, since our is a free economy, this assignments is passed unto Nigerian Entrepreneurs to truly bring the dreams to fruition.Therefore this study is aimed at bringing to focus this objective and then access the steps so far and what could be done to improve the system. If by giving the job to governmental and non-governmental agencies participation in private sector to an organization will not be of advantage we can deal directly with the recipients. All the funds giving out through NDE, SAP, NERFUND etc were seen by many recipients as their own part of “National cake”, therefore we shall strife hard to see if we can bring in sanity in the system by giving other organizations like NASSI the chance to directly deal with the entrepreneurs or any other organization to be formed. Apart from poor fund disbursement pattern, to help seek ways to connect the Enugu entrepreneur with other business contacts with the outside world.This research work is poised towards identifying the activities of the entrepreneur in pursuing the much-desired economic and social self-reliance. The work will be of great help to student of business management scholars, also the entrepreneurs themselves will learn more and thus make a right step in the right direction by first approaching their businesses with the overall view of being self-reliant.Secondly, to appreciate the financial aids giving to them as loan to be repaid and not relief packages and finally for the government to bring in their presence in Enugu metropolis by establishing agencies that will be pragmatic in dealing with the entrepreneurs as well as improving the social amenities in the city, like good road network, good sanitary conditions and dull supply of power which forms an integral part in the production of good and services.1.6 Formulation of hypothesis1. Ho: Rate of illiteracy has narrowed the scope of the Enuguentrepreneur.Ho: Rate of illiteracy has not narrowed the scope of the Enuguentrepreneur.2. Ho: Funds are misdirected thus going it to those who many not utilizeit well.Hi: Funds are not misdirected thus going it to those who many not utilize it well.3. Government presence in the city has brought poor assimilation ofNASSI policies on business.4. Ho: Lack of funds has hampered the expansion of the entrepreneurs.Hi: Lack of funds has not hampered the expansion of theentrepreneurs.1.7 THE SCOPE OF THE STUDYThe scope of this work is just an insight into the activities of the young ideal manager or who may be called an entrepreneur in Enugu. The angle the research is bringing in this entrepreneur is from the activities of the Nigerian Association of the Small-Scale industrialist (NASSI) Enugu State Chapter, Enugu Office. The entrepreneurs we are going to discuss here is only the small-scale industrialist. The office of the NASSI in Enugu has been visited and five more industries involved in small-scale production were visited as well.1.8 LIMITATION OF THE STUDYThe researcher was unable to get the required information from the chairman of NASSI, thus speaking with the secretary though the right data was collected.The time lag was too short to conduct more researches on this topic hence the asocial does not have any library for academic research work. Thirdly funds were problems as a result much were not done on his study.1.9 DEFINITION OF TERMS1. Depressed economyThis is an economy where mostly economic and social activities are made to be less active, or sad without enthusiasm.2. ScholarA scholar is a person who studies an academic subject and knows a lot about it.3. PoisedThese means when an individual is ready or set to take action or strike something any moment in time.4. PragmaticThis is a way of dealing with something or problems in a practical way rather than using theoretical or abstract principles.5. MetropolisA metropolis is very large city that contains is very large number of people.6. Time LagThis is an interval of time between one event and another related event that happens after it.

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THE NEED FOR THE DEVELOPMENT OF ENTREPRENEURSHIP IN A DEPRESSED ECONOMY


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