ENTREPRENEURSHIP AS AN ECONOMIC FORCE ON RURAL DEVELOPMENT IN ANAMBRA STATE, NIGERIA
This study examined entrepreneurship as an economic force in the development of rural areas of Anambra state. Specifically, the study investigated the influence of poor access to finance, unemployment, entrepreneurship orientation and infrastructural facilities on rural development. Relevant literature conceptual, theoretical and empirical literatures were reviewed. The theoretical framework was anchored on opportunity-based entrepreneurship theory, resource-based entrepreneurship theory and the human capital entrepreneurship theory. Survey research design was adopted in this study. The population of the study comprised1350selected registered entrepreneurs in Anambra state. Taro Yamane’s formula was applied for determination of a sample size of 309. The tools used in analysing the data collected were simple percentages, descriptive statistics and correlation analysis and the study also employed Multiple Regression Analysis (MRA) in testing the hypotheses. Findings revealed that access to finance, unemployment and entrepreneurship orientation had significant influence on rural development while infrastructural facilities had no significant effect on rural development. The study therefore, concluded that entrepreneurship as an economic force had a significant influence on rural development in Anambra. It was recommended that government should initiate policies to create access to finance to entrepreneurs. Unemployment problem should not be left in the hands of government alone rather government should employ the public private partnership approach so as to allow the involvement of private individuals in helping to establish entrepreneurial development centres as well. Entrepreneurship orientation should be made an element at all levels of learning primary, secondary and tertiary institutions. Good infrastructure generally promotes business activities regardless of the size or type of enterprise.
Abiola, R. (2014). Small and medium scale enterprises in Nigeria: The problems and Prospects. Journal of Management Science, .4,(3), 242-253.
Ahmed, A and Mc Quid, R.W (2005) Entrepreneurship management and sustainable development. World review of entrepreneurship. Management and Sustainable Development.1,(2 ),6-30.
Alembummah, A. B. (2015)This thesis is submitted to the university of Ghana, legon in partial fulfilment of the requirement for the award of Mphil marketing degree.
Akande.O.O (2014). Entrepreneurial business orientation and economic survival of Nigerians. International Review of Management and Business Research 3(2) 1254-1263
Agboli, M., & Ukaegbu, C. C. (2006). Business environment and entrepreneurial Activity in Nigeria: Implications for Industrial Development” Journal of Modern African Studies 44, 1: 1 -30.
Ajagbe, A. M. & Ismail, K. (2014). Factors influencing venture capital assessment of high growth companies in Malaysia. International Journal of Entrepreneurship and Small Business, 21(4), 457-494.
Ajagbe, A. M. (2014). Funding criteria in technology based firms in Malaysia. An Unpublished PhD Thesis Submitted to the Graduate School, Universiti Teknologi Malaysia.
Ajagu, A. N. (2005). The Entrepreneur. Amuwo-Odofin, Lagos: Betcy Media.
Ajetunmobi, M. O. (2000). Data analysis, recommendation and conclusion in research, a paper presented at chartered institute of bankers, by DTS consultancy services.
Akanwa, P. U. & Agu, C. N. (2005). Entrepreneurship Theory and Practice in Nigeria, Owerri: Resources Development Centre.
Akanwa, P.U. & Akpanabia, N.H. (2012). Entrepreneurship development as panacea for unemployment Reduction in Nigeria. reikojournals.org
Aldrich, H.E., & Cliff, J. (2003). The pervasive effects of family on entrepreneurship: Toward a family embeddedness perspective”, Journal of Business Venturing, 3,(18),573-596.
Alvarez, S., & Busenitz, L. (2001). The entrepreneurship of resource based theory. Journal of Management, 27,755-775.
Badi, R. V. & Badi, N. V. (2006). Entrepreneurship. Mayur Vihar, Delhi:
Baron, R.A. (1998). Cognitive mechanisms in entrepreneurship: why and when entrepreneurs think differently than other people. Journal of business venturing, 13,(4), 275-294.
Clausen, T.H. (2006), “Who identifies and Exploits entrepreneurial opportunities”, Retrieved from www.ccsr.ac.uk
Duru, M. 2011. Entrepreneurship opportunities and challenges in Nigeria. J. Business, 1(1).
Eboh, M., (2007). World Bank, UNDP blame multiple taxation, corruption for investors apathy”, Vanguard, September 25. European Journal of Business and Management. 3, (6), 12-22
Gwija, S. A., C. Eresia-Eke & Iwu,C. G. (2014). The link between entrepreneurship education and business success: Evidence from Youth Entrepreneurs in South Africa."
Kelley, B.Bosma,,J and Amorose, H. (2010).The entrepreneurial personality in the context of resources, environment, and the start-up process A-configurational approach”, Entrepreneurship Theory and Practice, 28,(1), 23-42.
Nwachukwu, C. C. (2005). The Practice of Entrepreneurship in Nigeria. Onitsha: Africana-First Publishers Limited.
Nwafor, P.Z.( 2007), Practical Approach to entrepreneurship: small and medium scale enterprises (SMEs).Journal of Business
Ogbari, M. I. E., Ajagbe, A. M. & Ade-Turton, D. (2015). Effects of Subcontracting on Modern Day Organizations. Australia Journal of Commerce Study, 2(2), 1-11.
Onwuka E.M., Ugwu K. E., Itoya J., Okeke N.M. (2015), The relationship between entrepreneurship development and poverty reduction in rural communities in Edo State, Nigeria, International Journal Of Technology Enhancements And Emerging Engineering Research, 3, (09)234-428.Osuagwu, L. (2006) Small business and entrepreneurship management. Second Edition. Lagos, Gray Resource Ltd. Owerri: Klet-Ken Publishers.
Petrin, T. (1994). Entrepreneurship as an economic force in rural development. Keynote paper presented at the Seventh FAO/REU international rural development summer school, Herrsching, Germany, 8 - 14 September 1994.
Pillania, R. K., M. Lall and S. Sahai (2009). Motives for starting business: Indian women entrepreneurs’ perspectives." International Journal of Indian Culture and Business Management3,(1), 48-67.
Rahmawati, F., A., Hasyyati, T. & Yusran, H. L. (2012). The obstacles to be young entrepreneur. Proceedings of the international conference on business and management, Phuket, Thailand.
Satya pal (2013). Rural entrepreneurship in India: Challenges and problems”, TMIMT International Journal, 4 , (4), 85-94
Saxena, S. (2012). Problems faced by rural entrepreneurs and remedies to solve It”, Journal of Business and Management 3(1), 23-29.
Soyibo, A. 2006. The concept of entrepreneurship. J. Business Org. Dev., 1(5).
Sudipta G. (2013). Entrepreneurship: An overview of the issues and challenges in the context of rural development in India”, Business Spectrum, I, (2),
Stathopoulou, S; Psaltopoulos, D. and Skuras, D. (2004): Rural entrepreneurship, in Europe: A Research Framework and Agenda. International Journal of Entrepreneurial.5, (8),22-38
Sukhjeet Kaur, Saini and Gill, (2006). Entrepreneurship among rural women, Kisan World,
Sykes, E., Gurbuzer, D. and Principia, J. (2016) Exploring the linkages between youth financial inclusion and job creation: Evidence from the ILO school-to-work transition surveys. Youth Employment Programme. Work4Youth Publication.
Timmons,J. A. & Spinelli, T. (2008).The entrepreneurial mind” Andover: Brick House.
Copyright (c) 2019 IJRDO - Journal of Business Management (ISSN: 2455-6661)
This work is licensed under a Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 International License.
Author(s) and co-author(s) jointly and severally represent and warrant that the Article is original with the author(s) and does not infringe any copyright or violate any other right of any third parties, and that the Article has not been published elsewhere. Author(s) agree to the terms that the IJRDO Journal will have the full right to remove the published article on any misconduct found in the published article.