ABSTRACT
The research work is on the Economic Determinants of Entrepreneurial Success in Nigeria: A Study of Indigenous Furniture Makers in Rivers State. Data used for the work were collected from both primary and secondary sources. The relevant data collected were analyzed using Spearman Rank Correlation. The result of the analysis revealed that finance is very important for the growth of small and medium scale enterprises and also that entrepreneurs in Rivers and Nigeria in general would be able to experience growth if the funding was made available.The study concluded that Entrepreneurs have been recognised to engines of growth in many economies around the world. Given this, it is very important that government promote entrepreneurship by providing access to finance for investment. But this has not been achieved in the case of Nigeria, where according to our findings; most entrepreneurs have no access to additional funding. Finally the study recommends among other things that: Information about entrepreneurship promotion in Nigeria should be effectively disseminated amongst interested entrepreneurs. Commercial and micro-finance and institutions should be encouraged to provide not only funding for entrepreneurs but also technical assistance.
INTRODUCTION
................ Entrepreneurship success according to Scott and Twomey (1988) is hinged on three factors. These are: Predisposing Factors: Those elements that prepare individuals for entrepreneurship, such as, work experience, education, family background and entrepreneurial traits; Triggering Factors: Those elements that pull individual into entrepreneurship for example, windfall, desire for independence, desire to exploit an opportunity, financial incentives, liberalization, privatization, political, social or economic revolution. On the other hand, some individuals are pushed into entrepreneurship by circumstances like economic hardship, unemployment, retrenchment, disagreement etc.
Business Ideas: These are the concepts that individuals have that when implemented nascent businesses emerge. Thus, if these factors are available there is every likelihood that the individual will want to become an entrepreneur. The presence or absence of the above factors will also play a very important role in the success or failure of the entrepreneur. For example, a good business idea on its own will not necessarily translate into entrepreneurial success unless the individual possesses the drive to become a successful entrepreneur, has the right experience, possesses the financial capacity and incentives, has an opportunity to exploit and desires the independence that comes with working for ones’ self. The absence of any of the above may greatly hamper the success of the entrepreneur.
From the above, it can be seen that the success of the entrepreneur is dependent not only on his desire to become one but also on his ability to develop the right business idea and plan and most importantly raise the required capital. In fact in some cases, the desire to become an entrepreneur may be predicated on the availability of unutilised funds. Thus, if capital is available the willingness to become an entrepreneur and capacity for success will be greatly enhanced for the entrepreneur.
The need to understand the determinants of entrepreneurship is as important as understanding its concept. If the determinants are well understood, supporting institutions and innovative actions can be undertaken to promote innovations and competitive enterprises in the country. Policies and programs designed specifically for entrepreneurship promotion can greatly affect the innovation and the competitiveness of businesses and thus create wealth in the country (Hisrich, 2008; Storey, 1994; Mache and Markley 2003). ...............
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CHAPTER ONE:: INTRODUCTION
1.5 BACKGROUND OF THE STUDY
1.6 STATEMENT OF THE PROBLEM
1.7 PURPOSE OF THE STUDY
1.8 RESEARCH QUESTIONS
1.11 RESEARCH HYPOTHESES
1.12 SIGNIFICANCE OF THE STUDY
1.13 DEFINITION OF TERMS
1.14 LIMITATIONS OF THE STUDY
1.15 SCOPE OF THE STUDY
1.16 ORGANIZATION OF THE STUDY
REFERENCES
CHAPTER TWO: REVIEW OF RELEVANT LITERATURE
2.2 THEORETICAL FOUNDATIONS OF ENTREPRENEURSHIP
2.1.1 Economic perspective
2.1.2 Psychological and Personality perspectives
2.1.3 Sociological and Cultural perspectives
2.2 ENTREPRENEURSHIP IN THE NIGERIA ECONOMY
2.3 ENTREPRENEURSHIP AND ECONOMIC GROWTH
2.4 ECONOMIC DETERMINANTS OF ENTREPRENEURIAL
SUCCESS (AVAILABILITY OF FINANCE)
REFERENCES
CHAPTER THREE: RESEARCH METHODOLOGY
3.0 INTRODUCTION
3.1 RESEARCH DESIGN
3.3 POPULATION OF THE STUDY
3.4 SAMPLING PROCEDURES
3.4 DATA COLLECTION METHOD
3.5 QUESTIONNAIRE DESIGN
3.6 TEST OF VALIDITY AND RELIABILITY
3.6 DATA ANALYSIS TECHNIQUES
REFERENCES
CHAPTER FOUR: DATA AND PRESENTATION ANALYSIS
4.0 INTRODUCTION
4.1 DATA PRESENTATION
4.2 DESCRIPTIVE ANALYSIS
4.3 HYPOTHESIS TESTING
CHAPTER FIVE: SUMMARY, CONCLUSION AND RECOMMENDATIONS
5.1 INTRODUCTION
5.2 SUMMARY
5.3 CONCLUSION
5.4 RECOMMENDATIONS
BIBLIOGRAPHY
APPENDIX A
APPENDIX B
Reference code: c017
Reference code: c017
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83 Pages
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