TESTING THE WATERS OF ENTREPRENEURSHIP A WAY OUT FOR NIGERIAN ECONOMY

ABSTRACT

There seems to be a cry by the Nigeria on the way out of economic misfortune. The wailing by Nigeria of their poverty among the riches, his inability to achieve his set objective as a minimum possible cost, the society which has deprived them of chances of exploiting the available opportunity political and legal enirount also poses great threat to their survivals. All these needed to be attended to.                                      

The study examines what causes this, it effect on the economy and the way out of this economic meses. In this project work titled “Testing the waters of entrepreneurship a way out for Nigerian economy. The study will examine what it takes to start a business, the risk inherent and the benefits of its establishment to the Nigerian economy.

The research methodology adopted for this project discuss the means which the researcher’s study was conducted.  The research design describe the data requirements, the population and sample.

The sampling design discuss the sampling method of the research study in order to fully represented the population. Data gathering collection reveals the method used in gathering data end the filed work undergone by the researcher.

The research funding indicate among other things.

(i)           How to start a small business as an entrepreneur.

(ii)          Risk involve in entrepreneurship

(iii)        The political and legal environt of an entrepreneur.

(iv)        How to encourage the spirit of entrepreneurship to fund solution to Nigeria economic misfortune.

TABLE OF CONTENT

CHAPTER ONE

1.0    INTRODUCTION         

BACKGROUND OF THE STUDY 

With the number of business expected to double by the year 2015, just think of all the opportunity that this represent and of the millions of people who will find fulfillment and security pursuing it. To get one launched into a view of your own entrepreneurial motivations and aptitudes, Jeffy Timmons presented Ten general principles. They come from his observation, thousands of people who have tested the waters o entrepreneurship before now. Timmons suggests some first steps as to how you can actually get started on the journey.

(1)         Do what gives you energy. Have fun at what you are doing and you will be unstoppable.

(2)         Entrepreneur sees the cup on half full and not half empty.

(3)         Do not take risks you don’t have to but take a calculated risk if it’s the right opportunity for you.                      

(4)         Business fail but successful entrepreneur learns. The key is keep the tuition low.

(5)         Henry Ford put it this way failure is an opportunity to began more intelligently.

(6)         Make opportunity and results your observations not money and this is a key point.

(7)         Make heroes out, others. A team builds a business, and individual makes a living.

(8)         Integrity and reliability are the long run oil and glue of entrepreneurship.

(9)         Make the pie bigger, don’t waste time trying to cut smaller pieces an share the wealth with the people that help you create it.

(10)     Plan for long hand.

Who then is an entrepreneur. In Nigeria, context most people take it just to mean a means of livelihood. It is a term used broadly in correction with the innovative modern industrial business leader. It can be define as an purposeful activity. It involve the use of human and non-human resources towards the achievement of set goals and objectives. It is being define by reference to the function of an entrepreneur as the man who perceived business opportunities and takes advantages of the scarce resources to use them.