The IUP Journal of Entrepreneurship Development
Entrepreneurship Development and Poverty Reduction in Nigeria: A Study of Industrial Layout, Emene, Enugu State, Nigeria

Article Details
Pub. Date : Dec, 2019
Product Name : The IUP Journal of Entrepreneurship Development
Product Type : Article
Product Code : IJED31912
Author Name : Onyi Akachukwu Joseph, Ikechukwu Dialoke, Edeh Friday Ogbu
Availability : YES
Subject/Domain : Management Journals
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No. of Pages : 18

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Abstract

This study evaluates the effect of entrepreneurship development on poverty reduction in Nigeria using data from the industrial layout, Emene in Enugu State. Survey research method was adopted for making qualitative and quantitative evaluation by collecting relevant and substantive data. Primary and secondary data were used. A questionnaire was designed to collect necessary and relevant data from 396 respondents. The hypotheses were tested using regression analysis. The results showed that all the independent variables (skill acquisition, youth requisite training and creativity and innovations) had positive significant effect on the dependent variable (poverty reduction). The study recommends that all the levels of government, academic institutions, donor agencies and private organizations should urgently support entrepreneurship development as it is a good strategy for reducing poverty in Nigeria and other countries of the world.


Introduction

One of the major challenges faced by developing countries like Nigeria is the provision of adequate employment for its citizen. Entrepreneurship is considered as the bedrock for sustainable economic development and poverty alleviation in developing countries, like Nigeria. An entrepreneur is a person, who embarks on the path of innovation as well as finances the business in an effort to obtain economic value for innovations. In other words, it is the ability to perceive and undertake business opportunities, utilizing scarce resources. Hisrich and Peters (2002) described entrepreneur as a person who takes the necessary steps to develop something new that has value and back it up with the necessary financial initiative, and takes the risks involved that usually results in financial reward and personal satisfaction.


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