ENTREPRENEURIAL DEVELOPMENT AND ITS IMPACT ON THE ECONOMY OF BAYELSA STATE

ABSTRACT

This study is entrepreneurial development and its impact on the economy of Bayelsa state. The total population for the study is 200 staff of selected SMEs in Bayelsa state. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made managers, technical officers, senior staff and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies

 CHAPTER ONE

INTRODUCTION

• Background of the study

The world economics fall of the early years cause a quick fall of the Nigeria economic which affect Bayelsa state. The output shrank to all time local and commercial activities, which were consequently reduced, leading to the loss of employment opportunities in the country, this situation of unemployment in the country therefore calls for entrepreneurship in Nigeria economy which will lead to entrepreneurial development in the higher institution. However, at this juncture a brief history of entrepreneurship in Nigeria will give more insight on the study. The actual potential entrepreneurs may not need to be given a fish but rather information on how to catch a fish because information is the greatest asset you need. Statistics have it that African is the poorest in the world and also the less developed continent. Many state owned enterprises (firms) in Bayelsa state were created when it was believed that the fastest route to development occurred when the state took on the roles of entrepreneurs Although Bayelsa state was at one time characteristerized by such inefficiency, but has recently pursed entrepreneurship encouragement policies. And these policies have been successful. Nigeria is still ploughed by many development problems preliminary evidence suggests a favorable respond by the private sector to the new entrepreneurial opportunity. Even though there is only limited consensus about the characteristics of entrepreneurship. The concept is now very old as the formal discipline of economic itself early 18th century, French economist named Richard Canadian first introduced the terms entrepreneur in this coritting he formally described the entrepreneur as the agent who buys the means of production at certain prices in order to combine them into new product. A French Economist J.B added the definition by including the idea that the entrepreneurs have to be leaders, is also the one who build a single product organism Schumpeter (1951) The necessity of entrepreneurship for productivity was formally organized by Alfred marshal in (1990) his famous practice principle of economic marital ascertain that there are four factors of production, land, labour, capital and organization which are utilized by an entrepreneur. Investment opportunities establish and run an enterprise successfully. Hence early entrepreneurs were characterized with production and manufacturing. In this case, the producers most often started with trade by barter even before the advent of money however, modern entrepreneurship in Nigeria sated with the coming of the colonial masters, who brought in their wears and max Nigerians their middlemen. In these way modern entrepreneurs was conceived. Most of the modern entrepreneurs were engaged in retail trade or sole proprietorship.

 1.2 STATEMENT OF THE PROBLEM

When comparing entrepreneurship development in Bayelsa state with other towns started on the same platform as Onitsha with trade by barter and then advanced to their present state of economic growth- those towns are faster in their development of entrepreneurship then Bayelsa state why this differences?
This research work will find out to these effects

1. The general problem encountered by entrepreneurs in Bayelsa state in establishing business
2. To find out the basic orientation that should be given to Bayelsa state entrepreneurs
   3. To discover the rate of employment and find out the various business opportunities that will be help to the Bayelsa state economy through entrepreneurship
   4. To also find out how government program has been of help to various entrepreneurs in the city

1.3 OBJECTIVE OF THE STUDY

The objectives of the study are;

1. To know the extent to which firms in the Bayelsa state study entrepreneurship
   To know the problems encountered by entrepreneurs in their firms.
   3. To know the important of entrepreneurial development on the firms in Bayelsa state.
2. To know the promotional tools used by the firms to improve productivity
   5. To know the extent to which lack of research occur in their firm

1.4 RESEARCH HYPOTHESES

For the successful completion of the study, the following research hypotheses were formulated by the researcher;

H₀: there are no problems encountered by entrepreneurs in their firms.
H₁: there are problems encountered by entrepreneurs in their firms.

 H₀²: there are no promotional tools used by the firms to improve productivity

H₂: there are promotional tools used by the firms to improve productivity

1.5 SIGNIFICANCE OF THE STUDY

The importance of the study cannot be over emphasized, since it is expected to affect our economy and also increase the creation of job opportunities in the country especially in Bayelsa state. However, this project when conducted will be of immense benefit to the following:
-The Nigeria economic in general

-The small scale industries

-The general public

-Creation of job opportunities in the state also there will be increase in the managerial skills.

1.6 SCOPE AND LIMITATION OF THE STUDY

The scope of this study is restricted to entrepreneurial development and its impact on the economy of Bayelsa. The researcher encounters some constrain which limited the scope of the study;

1. a) AVAILABILITY OF RESEARCH MATERIAL: The research material available to the researcher is insufficient, thereby limiting the study
2. b) TIME: The time frame allocated to the study does not enhance wider coverage as the researcher has to combine other academic activities and examinations with the study.

1.7 DEFINITION OF TERMS

The following terms used in this study should be taken to mean the following:
1 SMALL SCALE INDUSTRIES: 

This is a manufacture processing or services industry involved in a factory or production type of operations, employing up to fifty (50) full time workers, it also stated, the government are encouraging people to establish their own small enterprises to reduce the problem of unemployment in the state and also reduce the rate of importation of goods, more so to produce exportable products.
2 NATIONAL DIRECTORATE OF EMPLOYMENT (NDE):

They are one of the agencies which provide loans to graduates for the operation of small scale business.

PROMOTIONAL TOOLS OF A FIRMS:

Is the combination of one or more of the elements it chooses to use to communicate its offering to the market. Promotion has the objective informing, persuading and reminding. It forms the potential buyer about the alienability and nature of products.

 ENTREPRENEUR: This is a person who starts a business and takes the finance risks and personal risks involved in keeping the business going or. An entrepreneur is an individual agent who buys means of production at a certain price in order to combine them into new product.