Youth Entrepreneurship Among University Graduates in Anambra State, Nigeria (original) (raw)
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This study empirically identified the driven factors into entrepreneurship among Nigerian youths with a view to isolating those factors that are fundamental to youths' entrepreneurship development in Nigeria. The study employed a survey design. Data were collected on socioeconomic and demographic characteristics as well as personal entrepreneurial competencies of the sampled students from the selected three out of the nation's tertiary institutions. Structured questionnaire was designed and used as instrument of data collection. The reliability of the instrument was established at (r=0.754). The validity of the instrument was also scrutinized by experts before finally used. The data collected were analyzed using inferential statistics. The result showed that age significantly influenced proactiveness and goal setting while marital status significantly influenced demand for efficiency and quality. Also, exposure to enterprise education/training influenced opportunity seeking, father's occupation significantly influenced information seeking, and cumulative grade point average significantly influenced information seeking and independence and self confidence. The course of study significantly influenced risk taking propensity, persuasion and networking, and independence and self-confidence. The area of discipline significantly influenced risk taking propensity while perception of parents' entrepreneurial success significantly influenced information seeking, risk taking propensity, proactiveness and goal setting and persuasion and networking. On the contrary, mother's occupation, monthly allowance received, parents' financial status, position among siblings, where one spent his or her childhood days, ethnic group belonging were found to have no significant influence on personal entrepreneurial competencies of the respondents. Policy strategy on entrepreneurship development should take cognizance of factors which significantly influenced entrepreneurial resourcefulness of the Nigerian youths in order to enhance enterprise culture and check unemployment rate and its consequences in Nigeria. The study concluded that socioeconomic and demographic variables are vital for consideration in nourishing and nurturing entrepreneurial spirit in Nigeria.
Entrepreneurship -A Panacea for Youth Unemployment in Nigeria: Implication o
Introduction: In Nigeria, unemployment is a very serious problem combating all the states. Although accurate statistical data are lacking, local media reports however indicate that half of the Nigerian population of about 150 million are youths and that about 95% of them are unemployed. Idleness, decadence of economic stagnation and poverty have driven a large percentage of them into robbery, prostitution and violence. Nwachukwu and Nwamuo (2010) noted that when youths are not gainfully employed either in the public or private sector of the economy, they become very vulnerable to criminalities such as kidnapping, armed robbery, and many other social vices which are a menace to the society. In the same vain Ewumi, and Owoyale (2012) noted that one of the many pressing challenges facing Nigeria today is youths unemployment with the ripple effect of their resort to violent crime. All forms of antisocial vices are traceable to the unemployed youths. In order to address this issue of unemployment, the Federal as well as the State governments have made some efforts through some agencies by creating skills acquisition programmes, yet many graduates and even postgraduates degree holders are still parading fine and quality certificates without employment either by public or private organizations. As a result of this, the importance of entrepreneurship development of the economy has received increased attention in Nigeria in the recent time. The Federal Government of Nigeria since 1960 has put in place different kind of institutional frame work to promote small scale enterprises in the country. These include the establishment of industrial development centers (IDCS), the Small Scale Industries Credit Scheme (SSICS), Credit Guidelines to Financial Institution (CGFI), Working For Yourself/Entrepreneurship Development Programme (WFYP/EDP), National Economic Reconstruction Fund (NERF) and the Endorsement of Micro-finance Banking System (EMBS) whose duty is to give loans to enable their customers establish small scale businesses. All these are geared towards the promotion of entrepreneurship. Entrepreneurship, in this context, is seen as the process of discovering new ways of combining resources and becoming aware of business ownership as an option or viable alternative, by developing ideas for business; learning the process of becoming a business owner, undertaking the training to acquire the skills required to establish and develop business. It includes the practical application of enterprising qualities such as initiative, innovation, creativity and risk-taking into the work environment (either in self employment or employment in small start-up firms) using appropriate skills necessary for success in that environment and culture. The entrepreneur is often referred to as the agent of social, economic and technological development. The formal processes of equipping the entrepreneur with necessary insight and skill are through formal education, entrepreneurial training and development. Training is considered as the organized procedure by which people learn knowledge and/or skills for definite purpose (Bench, 1975). The objective of training is to cause changes in behaviour of the trained. It should be noted that training means to guide someone through instruction and drill for skills acquisition. Learning is another related concept which means the human process by which skills, knowledge, habits and attitudes are acquired and utilized in such a way that behaviour is modified. Thus education as used here is inclusive of training and learning process (Ogundele & Kio, 2002) and the essence of these training is for development. Development at the individual level according to Rodney (2005) is the increase in skill and capacity, greater freedom, creativity, self-discipline responsibility and material well being. The achievement of any of these aspects of personal development is directly related to the state of the society as a whole. At the level of social groups, development implies an increasing capacity to regulate both internal and external relationship. Rodney (2005) is of the view that the tool with which men work and the manner in which they organise their labour are important indices of social development. He further noted that development when used exclusively in economic sense, refers to how members of a society increase, jointly exercise their capacity for subduing the environment. Capacity here is dependent on the extent to which they understand the laws of nature (science), technological know-how and organisation of work which are assisted by the processes of formal education,
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The rising level of unemployment in Nigeria, with its consequences and the reality that government alone cannot provide job opportunities for the growing population. It became imperative for people particularly the youth to consider entrepreneurship as career choice and create employment opportunities to stimulate economic development. This study examined the need for entrepreneurship as career choice for Nigerian youth. Descriptive statistical analysis was used to compare data on number of enterprises and employment between 2013 and 2020. Data for the study were excerpted from National MSME survey report; previous researches and analyses of scholars; newspaper; magazines as well as journal articles that are related to the subject. The study involved extensive literature review which critically analyzed the present status and prospects of entrepreneurship development. The conceptual review focuses on definition of entrepreneurship and theoretical framework is guided by Schumpeter’s Theory of Entrepreneurship. The study reveals that as the number of small and medium enterprises increase, so do employment rate also increases. The study recommended that government should make policies that would lower the cost of doing business in order to enable the startups and existing enterprises to remain in the business world and continue to add value to the economy.
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One of the biggest challenges of Nigeria today is youth unemployment. Nigeria, being the giant of Africa has the largest number of youths who are yet to be properly mobilized and empowered for gainful economic activities. This can only be tackled through Entrepreneurship Education which involves teaching and learning of the needed skills, values, attitudes and knowledge that equip one to become self-reliant through being a good citizen who is an effective manager, value agent and risk bearer of business undertakings. Therefore, this paper discusses Entrepreneurship education and unemployment reduction in Nigeria, problems facing education and its graduate and ways of addressing this problems so that our national and human resources will be properly employed for economic emancipation, so as to turn our youths into job creators and not job seekers.