Challenges in the Era of Globalization - iaabd

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Challenges in the Era of Globalization Edited by Emmanuel Obuah Challenges of sustainable entrepreneurship development in Nigeria Victoria C. Chibuike, victoriachibuike@yahoo.com Department Of Business Management, Godfrey Okoye University, Thinkers Corner, Enugu, Nigeria. Abstract The recent economic downturn on African business and development makes this study imperative. The study aims at identifying the challenges, constraints and problems militating against entrepreneurship development in Nigeria and proffer solutions. Three research questions and two hypotheses were formulated for the study. The study adopted a descriptive survey, conducted among 177 male and female entrepreneurs purposely selected within the metropolis of each of the 17 local government areas in Enugu State of Nigeria. A structured questionnaire with fivepoint-Likert style response categories containing 40 items was used for the study. One hundred and seventy-seven (177) copies of the questionnaire were distributed with 100% return rate. Findings to the study indicated that inadequate capital, turbulent and unstable business environment due to socio economic problems, misapplication of loans for another purpose, incompetence of entrepreneurs due to poor education background, political instability, inability of entrepreneurs to source for adequate funds etc are the major problems that challenge entrepreneurship development in Enugu State of Nigeria. Based on the findings, the following recommendations were made: (1) There should be provision for special finds and a review of bank loans policy to entrepreneurs, (2) Stable national business environment should be created with good foundation policy for economic stability. (3) Constant training and development programmes, in form of workshops, conferences and seminars should be organized for entrepreneurs to enable them beef up their education background and talents. Introduction In Nigeria, the transforming power of entrepreneurship was recognized since post war to this present day. In her National Development Plan, Nigeria has several small scale industrial programmes such as the Small Scale Industries Scheme (SCIS) of 1970s, the Nigeria Bank for Commerce and Industry (NBCI) Loan Scheme, the Special Fund for Small Scale Enterprise Loan Scheme of 1980, the National Directorate of Employment (NDE) Programme of 1986 and the Family Economic Reconstruction Fund (SMEIS) of 2001 till date and the Small and Medium Enterprise Development Agency of Nigeria (SMEDAN). All these initiatives and efforts are attempts to produce and train entrepreneurs needed to accelerate industrial enterprise, diversify ownership of business (Osuala 2002:160) and offer employment to the unemployed thereby build the economic and development base of the nation. However, the success of these efforts has unfortunately not been satisfactory due to high mortality rate. Eke (2007) lamenting on this situation stressed that entrepreneurship development in Nigeria ought to be the focal point in the nation’s economic development blue-print, given to its impact on the overall economy. Yet nothing much has been achieved despite all the schemes mentioned above. The objective of this study therefore is to identify the challenges, constraints or problems militating against entrepreneurship development in Nigeria and proffer solutions to them. The following research questions guided the study: What are the challenges to entrepreneurship development in Nigeria? To what extent do the problems impact on Nigeria economic development? What are the solutions to the challenges? Two null hypotheses were formulated for the study: There is no significant difference between the opinions of male and female entrepreneurs on the challenges to entrepreneurship development in Nigeria. Relationship exists between turbulent and unstable business environment and entrepreneurship development in Nigeria. Theoretical Framework 213
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Table of Contents Challenges in the
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Lennart Bangens, Goteborg, Sweden C
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Local Steering Committee Jacob Musi
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Track 1: Accounting, Finance, and I
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Abstract Challenges in the Era of G
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Abstract Determinants of Bank Lendi
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Empirical Results Challenges in the
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Table 3 Determinants of Competitive
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Research Findings Challenges in the
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Abstract: Study on Africa Governmen
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Abstract Challenges of Oil Revenue
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Abstract Land Based Sources of Poll
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Abstract On the Mitigation of Rever
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Assessment of pollutants in nigeria
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Figure 1: Lagos off shore survey po
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Abstract The Changing Requirements
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The Model, Data and Variable Defini
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Empirical results Challenges in the
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Abstract Gender, poverty and sustai
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Figure 1.1: Spread of directorships
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Theoretical Framework Challenges in
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Single 18.1 Masters and above 35.3
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Source: Field survey, 2010 Table 3:
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Track 9: Global Studies and Politic
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Conceptual Definitions Challenges i
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Conclusions and Implications Challe
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Abstract Exploring Organisational R
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district hospitals: Evidence from N
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Defining the Organisational Culture
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Table 1: A Summary of Operating Ban
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Discussion and Conclusion Challenge
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Abstract What does Globalization me
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Statement of the Problem Challenges
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Convenient location of banks Challe
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Banks in Ghana Challenges in the Er
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References: Challenges in the Era o
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The study seeks to: • examine typ
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Figure 2: Customer Perception of MT
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Relationship Commitment Total 1264.
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Abstract Marketing Nigerian medicin
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References Challenges in the Era of
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Abstract Customer satisfaction with
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Methodology Challenges in the Era o
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Discussion Challenges in the Era of
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Postgraduate 19 Internet experience
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Conclusion Challenges in the Era of
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