ROLE OF ENTREPRENEUR IN ECONOMIC DEVELOPMENT
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ROLE OF ENTREPRENEUR IN ECONOMIC DEVELOPMENT
Chapter one
1.1 Introduction
Entrepreneur is a French word that widely refers to inventive modern industrial business leadership. An entrepreneur is an entrepreneurial person who generates cash via risk and initiative. The essential spirit of entrepreneurship is to solve issues and address the needs of humanity.
Many people are becoming entrepreneurs in order to pursue their dream of doing good for the country. This new impetus is gradually leading to the overall growth of Nigerian society.
At the moment, it is widely believed that an enthusiastic and resourceful entrepreneur can only consider the potential of the country’s resources, such as labour, capital, and technology. (Jamsetji Tata, 1989–2010).
For example, unemployment is a chronic problem in developing countries. Entrepreneurs create large-scale employment for the unemployed, promote self-employment, and provide jobs for millions more by establishing numerous industrial units.
In this way, entrepreneurs play an important part in reducing poverty in the country, which contributes in the economic development of the nation.
Entrepreneurs with little regional growth are typically driven to establish industries in smaller towns, far from major cities, due to increased competition in metropolis. The expansion of industries and businesses in smaller communities generates several societal advantages.
These areas include transportation, health education, and entertainment, which promotes regional development and increases national income while always keeping an eye out for opportunists, exploring and utilising opportunities, reducing the mobilisation of capital and skills, raising new goods and services, and developing markets for economic growth.
Verghese Kurian (1921-2012), this research study looks at the entrepreneur role in economic development, using Amaecom Global Nig Ltd as a case study.
1.2 Statement of the Problem
In this sentence, the problem service strives to impede the entrepreneur. Some of them are listed below:
Lack of commercial connections with other entrepreneurs and inadequate human relationships.
Incorrect choice of location
Lack of actual entrepreneur managerial know-how.
Bases of productivity improvement approaches.
I am unable to attract suitable workers with a variety of skills.
1.3 Objectives of the Study
The aims of the study are the following:
To study the importance of entrepreneurship.
To investigate the relationship between the entrepreneur and economic progress.
To investigate the relationship that exists between entrepreneurs and economic progress.
To determine the challenges linked with the development of Nigeria.
To make recommendations for improving entrepreneurship services.
1.4 RESEARCH QUESTIONS.
Do entrepreneurs help the economy to grow?
What role do entrepreneurs play in economic development?
Does the government aid businesses in growing Nigeria’s economy, particularly in Akwa Ibom State?
Do entrepreneurs produce jobs for the youth in Akwa Ibom state?
1. 5 Research Hypotheses
Ho: Entrepreneurs have a key part in the economic growth of Akwa Ibom State.
Hello: Entrepreneurs play an important part in the economic growth of Akwa Ibom State.
Ho: There is no substantial association between the growth and development of small-scale enterprises and entrepreneurs in Akwa-Ibom State.
Hi: There is a strong correlation between the growth and development of small enterprises and entrepreneurship in Akwa Ibom State.
1.6 Significance of the Study
This study would undoubtedly be done for the following reasons.
The study will be valuable when completed for the following reasons:
It would enable students become self-employed and develop entrepreneurial skills.
To the government, it would assist them promote small-scale entrepreneurship and encourage Nigerians to participate in entrepreneurship activities.
To the scholar, it will shed light on several important topics that were previously unexplored.
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