CONTRIBUTIONS OF ENTREPRENEURSHIP PROGRAMME TO ECONOMIC DEVELOPMENT

ABSTRACT

This project work examine the contribution of entrepreneurship programme to economic development. Various entrepreneurship concepts were analysed to understands the past literatures on the study of entrepreneurship. Moreso, series of definitions were also given to know different perspectives at which entrepreneurship is been viewed as well as brief history of the case study i.e. Fol-Hop limited, Ibadan. In addition to the concept of entrepreneurs. The write-up further attempt a concise review of the characteristics of an entrepreneurs, problems encountered by entrepreneurs and various sources of funds and various contributions of entrepreneurship to economy of different countries like India, as well as how it can contribute to Nigeria economy. Moreover, adequate findings were analysed and the research provided conclusion as well as necessary recommendations was given to further buttress the study of entrepreneurship programme to economic development.

CHAPTER ONE

1.0    Introduction

          The process of socio-economic change in positive direction is the intrinsic part of human civilisation. The human efforts were put to unearth the treasures of resources by in built curiosity and further augment them to generate value added products or services to offer mankind the peaceful, conformable and rich life with better living conditions. The intangible human assets inform of creativity and knowledge become driving force that will yield industrialization as the process that must accelerate economic growth and induction of social change. The faster rate of such change and forces can only be achieved by effective entrepreneurship programme which focus on management of change and industrial polices.

          Entrepreneurial programme mainly on innovative propensity and management capability with newer and recent managerial skill in the society in a particular period, this determines the future of economic development of a particular nation.

1.1    Background of the Study

          Entrepreneurship plays an important role in the economic growth and development of a nation. It is now view as a purposeful activity includes in initiation, promotion and distribution of health and service. Furthermore, development agencies see entrepreneurship as an enormous employment potential, politicians see it as the key strategy to prevent social unrest, farmers see it as a instrument for improving farming earning and women see it as an employment possibility near their homes which provides autonomy, in dependence and a reduced need for social support and economists see it as a means of improving of the people.

          However, entrepreneurship stands as a critical factor in economic development and an integral part of the socio-economic transformation. Thus, there is an increasing realical role to play in helping Africa been the deal effectively with current and emerging development and reduce poverty.

          In Nigeria, entrepreneurship programme is becoming a priority within all levels of education for many reasons such as self employment and self-reliance. Poverty reduction and youth empowerment are major challenges of the nation which depend heavily on the creation of employment opportunities. This leads to greater emphasize which is placed on entrepreneurship programmes, and development with focus on both rural and women’s entrepreneurship in order to improve economic development. This will leads to advancement of national development.

          This project work will focus on the reasons why entrepreneurship development programme is a force for economic improvement, the contributions of entrepreneurial programme to economic development as well as identification of various problems encountered in the process of improving entrepreneurial skills and knowledge.

1.2    Statement of the Problem

          The statement of problem of this research work is as follows, that there is: 

    Inadequate financial support for the entrepreneurial business

    Lack of effective information needed for the development of the business.

    Poor productive resources required in the business

    Difficulty for entrepreneurs to develop necessary managerial skill needed for the survival of their business

    Exposure to series of risk in the course of entrepreneurial activities or business.