Tag Archives: Entrepreneurship

Acute Skills Deficiency Syndrome “And Employment Creation in Sub-Saharan Africa: The Case Of Cross River State, Nigeria (Published)

Since 1999, successive Governments of Cross River State (CRS), Nigeria have successfully transformed the State to a preferred destination for business and leisure. But notwithstanding the impressive macroeconomic performance, youth inactivity has remained very high, and it is believed that Crossriverians suffer from acute skills deficiency syndrome (ASDS), which is not having the required skills to secure good jobs or start and run viable businesses. The paper notes that occupational structure in the new economy is increasingly bipolar, characterized by the juxtaposition of two main groups of workers: high skilled professionals on the one hand; and low skilled workers on the other hand. If more Crossriverians belong to the second group of employees, it is a possibility that they do suffer from ASDS. Using secondary data collected from CRS, the paper confirms among other things that 65.7 percent of employees of CRS origin were employed in low skill services areas, and fewer Crossriverians were employed in dynamic sectors/activities like manufacturing, mining, and electricity. The paper notes that dealing with ASDS in Nigeria and elsewhere calls for implementation of a comprehensive social reorientation programme that aims at inculcating the entrepreneurial mindset among youths particularly, and given the powerful impact the media, career counselling programmes should be streamed on the radio, television, and the Internet in a manner that will capture the attention and interest of young people.

Keywords: ASDS, Educational Institutions, Employment, Entrepreneurship, Knowledge Economy, business startups, technical and vocational skills

Attitude of Educated Women in Nasarawa State towards Entrepreneurship Education as Sine Qua Non For Wealth Creation and Reduction of Gender Inequality (Published)

The study investigated the attitude of educated women in Nasarawa State of Nigeria towards entrepreneurship education as an inevitable strategy for wealth creation and reduction of gender inequality. Four research questions and one null hypothesis were formulated to guide the study. The design of the research was cross-sectional exploratory survey. The estimated population of the study was 200,000 literate women in the state public establishments. A random sample of 400 female public servants was selected for the study. A 36-item structured attitude scale was developed and validated by the researchers and used for data collection, having established its reliability index of 0.84 through Split-half method. Descriptive statistics were used to answer the four formulated research questions while the corresponding null hypotheses were tested using t-test of independent samples at the 0.05 level of significance. The results of the study shows, among other findings, that a high proportion of the educated women expressed positive attitude towards gender equality in wealth creation; there was positive attitude towards acquisition of entrepreneurship skills through vocational courses, and marital status has positive influence on their attitude towards the pursuit of entrepreneurship skills. Concluding that women have positive attitude towards any viable steps for reducing gender inequality, it was recommended that government driven support should focus on encouraging women to embark on acquisition of entrepreneurial skills to facilitate wealth creation and reduce gender inequality.

Keywords: Entrepreneurship, Gender Inequality, Gender Parity, Positive attitude, Wealth Creation

Comparative Analysis of Differences in Women Entrepreneurship in Rural and Urban Communities in Cross River State (Published)

This study was conducted to assess disparities in women entrepreneurship in urban and rural communities in Cross River state. Specifically the study was aimed at identifying motivation for entrepreneurship by urban and rural women, identifying entrepreneurship activities engaged by urban and rural women entrepreneurs and challenges faced by urban and women entrepreneurs in the state. The study adopted survey design while cluster sampling technique was used to select samples. Questionnaires were used for data collection while percentages were used for data analysis. The study reveals that most women entrepreneurs from age category 41-45 while in rural areas, most of them were from ages of 36-40.  In both areas, majority of the women were married. Majority of urban women entrepreneurs had tertiary education while in rural communities; most of the women had secondary education.  Further, most of the women in urban areas were from monogamous relationships while relationships of most of rural women entrepreneurs were from polygamous. The study also found that entrepreneurship activities engaged by urban women entrepreneurs included mostly retail stores, followed by jewelry or boutiques, event management outfits, beautician shops and tailoring shops and small eateries. For the rural women, the most common business activities were agricultural business, followed by food restaurants, palm wine/beer joints and retail shops. Urban women entrepreneurs sourced their capital from mostly family, followed by personal savings, financial institutions and friends. Rural counterparts sourced capital mainly from informal financial institutions, followed by sale of crops and friends. The most common motivations for entrepreneurship for urban women entrepreneurship included the need to generate extra income while social status was the least motivation. For rural women, support their family members was the most common reason. Challenges faced by urban women entrepreneurs mostly included conflicts between business and family functions and lack of access to credit, inexperience and gender discrimination. For rural women, lack of funds, gender discrimination, government neglect in entrepreneurship programmes, low education and lack of business skills were the challenges. The study therefore recommended for opportunities for access to capital urban and rural women, involvement of rural women in entrepreneurship programmes and gender equality.

Keywords: Communities, Entrepreneurship, Socio-economic development., Urban Areas, rural areas

Effects of International Marketing Environments on Entrepreneurship Development (Published)

Entrepreneurs all over the world seeks ways of introducing their products to international markets, unfortunately the international marketing environment pose a lot of opportunities and threats to foreign entrants. The cultural environment and political and technological environment has a lot to do in entrepreneurial success in global markets. This study employed the descriptive research design and questionnaires were used as instruments for gathering the much needed data. Findings revealed that the technological advancement has less significant impact on business transactions of international entrepreneurs which could be traceable to the fact that not all entrepreneurs are technological inclined to transact businesses. Furthermore, the political systems and governmental regulations on business dealings have a lot to do with entrepreneurial success in the international markets. The study recommends the establishment of a supportive governmental framework to serve as a platform for the willing entrepreneurs to succeed in the international market.

Keywords: Comparative Advantage, Entrepreneurship, International, Market, Nigeria

Science, Technology, Engineering and Mathematics (Stem) Education: A Catalyst for Entrepreneurship and Economic Growth in Nigeria (Published)

Equipping learners with the 21st century skills is the current pursuit of nations of the world wishing to maintain global leadership and cutting-edge economic competitiveness. These nations now see Science, Technology, Engineering and Mathematics (STEM) education as an option for equipping their up-coming generations with problem solving skills and potentials for becoming innovators and entrepreneurs of tomorrow. This paper explains the concept of Nigerian economic recession and its remote causes. It also explains the STEM education as a meta-discipline which is taught as an integrated subject abroad but is yet to take root in Nigeria. The author presents STEM education as the foundation for innovation, entrepreneurship and work place skill required to boost the economy of Nigeria so as to diversify her economy from oil dependence and combat youth unemployment. It concludes with suggestions of what Nigeria ought to do at this time to reposition STEM education to achieve economic recovery.

Keywords: Engineering, Entrepreneurship, Mathematics Education, Science, Technology, economic growth

Agripreneurship Curriculum Development in Nigerian Higher Institutions (Published)

Sustainable agriculture has remained a subject of debate in Nigeria for decades without tangible results. Between 2001 and 2007, agricultural sector accounted for 40 percent of Nigeria’s Gross Domestic Products (GDP) and 51 percent of job creation. However, in 2015 agriculture accounted for only 17.77% of Nigeria’s GDP (National Bureau of Statistics, 2015). These figures are indications that agriculture has not met the need of the country, and reveal the dwindling nature of the sector. The declining nature of agriculture calls for a new strategy that will support agricultural development in Nigeria. This paper aims to advance agripreneurship education in Nigerian Universities by attempting to develop a curriculum that will trigger agriprenuership taught classes in Universities in Nigeria in attempt to increase youth and farmers participation in agripreneurship and improve the agricultural sector in general.

Keywords: Agripreneurship, Development, Entrepreneurship, Nigeria, University

Class Discrimination under the Impact of Transgression in ‘The White Tiger’ By Aravind Adiga (Published)

This further study on Aravind Adiga’s “The White Tiger” pivots round the class discrimination that hints the transgression of the protagonist, Balram Halwai, as well as his corrupted masters. It robustly delineates on the protagonist who was brought up in a remote village of Bihar that is often called as the ‘Darkness’ -a place without the light of educations and modern privileges. Balram narrates the ‘ins and outs’ of his adventurous life through a letter to a foreign luminary- Wen Jiabao, the Chinese Prime-Minister, on his stopover to Bangalore as an official task that upholds the facts of poverty, the evil of the feudal landlords and the miseries of the subaltern people of India. Adiga’s approach to picture the 20th Century India, has successfully been put into practice by the paroxysms of social injuries in several corners.

Keywords: Cast, Discrimination, Entrepreneurship, Poverty, Transgression, Vicissitude

Dare to be Entrepreneurial: A Student’s Nightmare (Published)

In recent past, governments have focused on developing strategies to help curb the alarming rates of unemployment especially amongst graduates of tertiary institutions in Ghana. This is as a result of the failure of students to explore opportunities owing to the challenges associated with entrepreneurial activities. In addition, the lack of proper training and intervention strategies in influencing the intention levels of students also pose a colossal task in tackling the unemployment levels in the country. A sample size of 267 was selected using the stratified and convenience sampling method for the study. Data was analysed using Structural equation modelling. The findings reveal that all the three variables: entrepreneurial attitudes, perceived support and instrumental readiness influenced entrepreneurial intentions. The findings of the study imply that when entrepreneurial attitudes are favourable as well as capital, coupled with support from a student’s network, can influence entrepreneurial intentions. Recommendations for future research are also discussed.

Keywords: Attitudes Towards Entrepreneurship, Entrepreneurial Activity, Entrepreneurship, Start-Ups

The Valuation of Student Entrepreneurs and Their Business Plans Using Factor Analysis (Published)

This work analyzes investor assessment of students’ business plan, with the hope of boosting their confidence level as they venture into business. The main goal of this study is to prove if investor support programs can assist students to get requisite know-how in becoming entrepreneurs, such that they could be great business tycoons after school. Conscientiousness or due diligence in entrepreneurship could be an approach of a modern-day investor to increase the confidence level of entrepreneurs being groomed in universities by identifying entrepreneurial skills in students and mentoring them. This forms a part of the investors’ strategy to make use of internal resources and skills, as well as opportunities and risks created by its external environment in venturing into a business. The entrepreneur is usually seen as an innovator, a source of new ideas, resources and business dealings. Identifying business opportunities, self-confidence and seed capital were found to be the most important attributes in motivating students to start a new venture. The authors of this study performed this kind of research using Factor Analysis.

Keywords: Business Plan, Entrepreneurship, Investors, Students

Considering Primal Teacher Leadership through Quadrant Intelligent (Qi) Model for Teacher Education Content Validity in Ghana (Published)

Using the convenient sampling technique, 250 teachers from the GES (N=218) were used to assess Qi levels. The findings showed significant differences in Ideal Qi and Actual Qi scores, but showed no significant variations among groups [F(1, 218)=1.517, p=.219]. The significant difference was found among the intercept of gender and teaching experiences [F(1, 75)= .596, p= .957)] therefore the alternative hypothesis rejected. Recommendations include the adoption of Qi model by the GES/ Teacher Education Division in Pre-service and In-service training of teachers. Teacher performance assessment should include the assessment of Qi levels and should lead to certification and partly based on evidence of such C21st multiple intelligence. Again, Qi model should be given serious consideration in policy decisions and scholarship. The study contributes to a new paradigm in skills set for teacher education and professional development. These skills set includes but not limited to social, emotional, strategic, and entrepreneurial intelligences.

Keywords: Emotional Intelligence, Entrepreneurship, Primal Teacher Leadership (PTL), Quadrant Intelligence (QI) Model, Social Intelligence, Strategic Thinking

Analytical Review of Small and Medium Scale Enterprises in Nigeria (Published)

The primary purpose of business is the supply of goods and services to satisfy the societal needs. Wherever people live in conurbations, there is always the need for goods and services. These goods and services are supplied by institutions such as the family, the voluntary organization, the business firms, local, state and federal government. Also, the importance of credit facilities from both the bank and non-bank financial institutions cannot be overemphasized in enhancing the development of SMEs in the country. However, only the effect of initial capital (CAP) and non bank credit facilities (NBK) is significant and responsive towards the enhancement of performance of SMEs while credit facilities from banks are insignificant with respect to SMEs development. Lastly it concluded that government agencies such as the National Directorate of Employment should intensify efforts geared towards training programmes for SMEs.

Keywords: Enterprise, Entrepreneurship, Environment, Growth, SMEs

Comparative Analysis of Opinions of Enterprise Managers and Business Students on Youth Entrepreneurship Development in Enterprises in the Context of Eritrea (Published)

The development of youth entrepreneurship has been forwarded as a very attractive alternative both to help the growing number of unemployed youth and to harness the potentials of the youth in an effort to bolster the economy of a country. This study has attempted to explore the level of importance of various factors for youth entrepreneurship development in enterprises in the context of Eritrea by seeking the opinions of private and public manufacturing enterprise managers and senior students in a business college. A total number of 150 managers and students were asked to rate 56 factors that are expected to influence or affect youth entrepreneurship development in enterprises. Respondents were asked to rate each factor, presented in the form of 5-points likert-scale. The ratings of the factors of importance for youth entrepreneurship development in enterprises by the three groups of respondents have a moderate degree of correspondence (as measured by the Spearman’s rho). Among the factors considered for youth entrepreneurship development in enterprises, prioritized factors by private enterprise managers are related with provision of more supportive environment for youth. Public enterprise managers have prioritized factors that target for the development of enterprise such as technology transfer and education while students have prioritized factors related with ambition, individual initiative and hard work In general, private enterprise managers were found to rate the factors higher compared to either public enterprise managers or the student group. The study has shown that the three groups of respondents have somewhat different opinions on how youth entrepreneurship in enterprises can be developed. This suggests the need to take into account the viewpoints of various relevant stakeholders when such programs of youth entrepreneurship development are envisioned.    

Keywords: Business Students, Entrepreneurship, Eritrea, Managers, Youth

Repeatable Scalable Business Models: Can Innovation Drive an Entrepreneurs Un-Validated Business Model (Published)

Can the level of innovation use drive un-validated business models across regions? To what extent does industrial sector attractiveness drive firm’s success across regions at the time of start-up? This study examines the role of innovation on start-up success in six regions of the world (namely Sub Saharan Africa, the Middle East and North Africa, Latin America, South East Asia Pacific, the European Union and the United States representing North America) using macroeconomic variables. While there have been studies using firm level data, results from such studies are not suitable for national policy decisions. The need to drive a regional innovation policy also begs for an answer, therefore providing room for this study. Results using dynamic panel estimation show that innovation counts in the early infancy stage of new business life cycle. The results are robust even after controlling for time fixed effects and the study present variance-covariance estimation robust standard errors.

Keywords: Entrepreneurship, Industrial Economics, Innovation and Un-Validated Business Models

The Role of Entrepreneurial Studies on Student Job Placement in Ghana: A Case Study Of Some Selected Tertiary Institutions in the Brong Ahafo Region (Published)

Entrepreneurship is a key driver of every economy. Wealth and a high majority jobs are created by small businesses started by entrepreneurially minded individuals, many of whom go on to create big businesses. People expose to entrepreneurship frequently express that they have more opportunity to exercise creative freedoms, higher self-esteem, and an overall greater sense of control over their own lives. Hence the study into the role of entrepreneurial study on student job placement in Ghana. The study was exploratory in nature. Population for the study was 10,000. Convenient sampling was used in selecting the sample. A sample size of three hundred and seventy (370) was used. The major instrument for data collection was questionnaire. It was found that entrepreneur studies had develop an entrepreneurial mind-set and enterprising skills include, building up a wide understanding of entrepreneurship and its application to a diversity of settings “Develop capabilities and confidence in students to start, operate and grow an enterprise effectively. Also, it was found that entrepreneurial education provides capacity for job placement. It was discloses that some student want to be an entrepreneur because they have seen that a family member is succeeding. It was recommended that Universities should continue to organize seminars on entrepreneurship for student. Moreover, Student should learn to do away with the habit of not being creative and innovative in nature.

Keywords: Entrepreneurial Capacity, Entrepreneurial Studies, Entrepreneurship, Job Placement

The Regent Business Schools New Entrepreneurial Centre: Towards Transforming South Africa’s Past and Reformulating the Present (Published)

The paper looks at entrepreneurship in terms of its importance to South Africa. In this regard it discusses the importance of initiatives like the Regent Business Schools proposed new Entrepreneurial Centre which will be opened in the latter part of 2016. A brief historical perspective is undertaken in this regard, in order to firstly situate the thrust, importance and necessity of the entrepreneurship and entrepreneurial dynamic, as it relates to a democratic South Africa. This is undertaken within the context of development and leadership in South Africa. The importance of entrepreneurship cannot be under estimated, in terms of development and economic growth in South Africa for purposes of stimulating much needed small business development and, the empowerment of the masses of people neglected by the administrative government systems by both, the apartheid and democratic government, post 1994. In undertaking the discussion in this paper, the issues towards transforming South Africa’s past and transforming the present assumes significance, in terms of the transformation agenda of the state. In addition the paper very briefly discusses development theories, and calls for a reformulation of these theories in order, to engineer sustained and coordinated development within developing countries. The paper outlines the strategic plan for the Regent Business Schools Centre for Entrepreneurship and its modalities for engagement for purposes of consolidating this important and necessary initiative. By the same token, the paper discusses very briefly the problems that higher education confronts in respect to access into higher education in South Africa and, therefore, posits that entrepreneurial training and development can assist in solving some problems that the country confronts, in terms of access to higher education and entrepreneurial development.    

Keywords: Business, Economy, Education, Entrepreneurship, Reformulating, Transforming

Enabling and Stimulating Entrepreneurship Education in Higheer Education Institutions: Catalyst for Venturesome Youths and Sustainable Development in Nigeria (Published)

Entrepreneurship is increasingly being recognized as a significant conduct for bringing about a transformation to sustainable products and processes, with numerous high-profile thinkers advocating entrepreneurship as a panacea for many social and environmental concerns. Yet, despite the promise entrepreneurship holds for fostering sustainable development, there remains considerable uncertainty regarding the nature of entrepreneurship’s role in the area, and the academic discourse on sustainable development within the mainstream entrepreneurship literature has to date been sparse. While entrepreneurs have long been recognized as a vehicle for exploiting emerging opportunities associated with societal need, we have little understanding of how entrepreneurs will discover and develop those opportunities that lie beyond the pull of existing markets. Thus, while the case for entrepreneurship as a panacea for transitioning towards sustainable development society-wide is valid, there exists  major gaps in our knowledge of whether and how this process will actually unfold. This paper focuses on: (i) Factors that challenge the teaching of entrepreneurship education within the Higher Education Institutions to engender sustainable development and venturesome youths; (ii) Strategies to employ in addressing these challenges. Factors that Challenge the Teaching of Entrepreneurship Education in Higher Education Institutions; (iii) Imperatives and outcomes of entrepreneurship education and the state of entrepreneurship education in Higher Education Institutions

Keywords: Entrepreneurship, Entrepreneurship education, Higher Education Institution, Venturesome Youths Sustainable Development

Skills in Basic Science and Technology for Local Technology and Entrepreneurship in Nigeria (Published)

With the broad search for skills to drive the home grown local technology in developing countries like Nigeria, Nigerian Educational Research and Development Council (NERDC) in the new Curriculum for Basic Science and Technology, encourages teachers to lead their students to identify entrepreneurial skills in Basic Sciences. This study is one of the efforts to determine such skills in Basic Sciences and Technology for Local technology and entrepreneurship. The research took place in one of the biggest cities in a flourishing State in Nigeria with 120 students (30 each), randomly selected from four secondary schools. The validated prime instrument for the descriptive survey design was questionnaire. The data was analyzed using inferential statistics. The researcher made recommendations that could answer the usual local and global question of “Where next is technology driving the local entrepreneurial?”

Keywords: Basic Science, Entrepreneurship, Skills, Sustainable Development, Technology, local technology

The Relationship between Entrepreneurship Education and Students’ Entrepreneurial Intentions in Ogun State-Owned Universities, Nigeria (Published)

The alarming rate of unemployment in Nigeria has become a major national problem. To abate this problem, the Federal Ministry of Education made Entrepreneurship Education compulsory for all students of higher institutions in the country. This study therefore investigates the relationship between students’ exposure to Entrepreneurship Education and their career entrepreneurial intentions in Ogun State-owned universities. Six hypotheses were generated for the study. The population comprises all final year undergraduates, with a sample of six hundred and nine. Three research instruments were used. The data collected were analysed using descriptive statistics, Pearson Product-Moment Correlation Coefficient, T-test and ANOVA. Findings revealed that Entrepreneurship Education significantly influences students’ Entrepreneurial intentions. It was recommended among others that Entrepreneurship Education should be practical-oriented so as to have greater participations in classroom interactions which would further enhance motivation.

Keywords: Entrepreneur, Entrepreneurial Intentions, Entrepreneurship, Entrepreneurship education, Motivation

The Effect of Women-Owned Business on Entrepreurship and Small Business Management: The Case of ‘Happy Family’ (Published)

The paper examines the issue of entrepreneurship and small business focusing on women-owned businesses. It explores the relevant academic literature, addresses succinct research questions which will be answered after having examined one of the top US women-owned companies, Happy Family. The purpose of the paper is to evaluate how Happy Family may serve as a model for successful women entrepreneurship. Through the information derived from this research specific questions that arose from the literature review are answered. Findings indicate that indeed Happy Family, as a women-owned small business, has some basic unique features, such as decent background, limited access to capital and family related incentives. On the other hand, high level of education and entrepreneurial character skills are met in women who start a small company and lead it to full success. Some current challenges can be summarized into increasing competition as long as a company grows and continuous pursuit of initial mission.

Keywords: Entrepreneurship, Small Business Management, Women-owned Business

Assessing the Impact of Incubation Programme to Small and Medium Enterprises Development in the Western Cape Province of South Africa (Published)

This paper sought to determine the impact of incubation programme to Small and Medium size Enterprises (SMEs) development in the Western Cape Province, South Africa. The study utilised a quantitative method approach to collect data by way of closed and open handed questionnaires. The Statistical Package for the Social Sciences (SPSS) software was utilised to analyse the data. The findings indicated that incubated SMEs had about; one to ten employees (85.7%) in the programme during the course of investigation. While those who had about eleven to fifty employees represented (14.3%) as this indicates slight improvement for economic participation and job creation in the Cape Metropolitan District. A majority of the respondents (53.6%) who participated in the study strongly agreed that businesses in the incubation program has a great potential to create more jobs opportunities. In addition, the results also indicate that respondents (60.7%) joined the incubation programme to obtain a multiple of skills such as networking, finance and growth. Recommendations to improve the current standard of incubated entrepreneurs in the study setting were made

Keywords: Business Incubators, Entrepreneurship, Incubation Programme, Small and Medium Size Enterprises