Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors

Dada Matthew Abiodun; Fayomi Olugbenga Abimbola; Simeon-Fayomi Bolanle Clara

doi:doi:10.11648/j.ijber.20140306.16

| Peer-Reviewed

Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors

Dada Matthew Abiodun, Fayomi Olugbenga Abimbola, Simeon-Fayomi Bolanle Clara

Published in International Journal of Business and Economics Research (Volume 3, Issue 6)

Received: 29 September 2014 Accepted: 29 October 2014 Published: 29 December 2014

Views: Downloads:

Download PDF

Share This Article

Twitter
Linked In
Facebook

Abstract

This study empirically identified the driven factors into entrepreneurship among Nigerian youths with a view to isolating those factors that are fundamental to youths’ entrepreneurship development in Nigeria. The study employed a survey design. Data were collected on socio-economic and demographic characteristics as well as personal entrepreneurial competencies of the sampled students from the selected three out of the nation’s tertiary institutions. Structured questionnaire was designed and used as instrument of data collection. The reliability of the instrument was established at (r=0.754). The validity of the instrument was also scrutinized by experts before finally used. The data collected were analyzed using inferential statistics. The result showed that age significantly influenced proactiveness and goal setting while marital status significantly influenced demand for efficiency and quality. Also, exposure to enterprise education/training influenced opportunity seeking, father’s occupation significantly influenced information seeking, and cumulative grade point average significantly influenced information seeking and independence and self confidence. The course of study significantly influenced risk taking propensity, persuasion and networking, and independence and self-confidence. The area of discipline significantly influenced risk taking propensity while perception of parents’ entrepreneurial success significantly influenced information seeking, risk taking propensity, proactiveness and goal setting and persuasion and networking. On the contrary, mother’s occupation, monthly allowance received, parents’ financial status, position among siblings, where one spent his or her childhood days, ethnic group belonging were found to have no significant influence on personal entrepreneurial competencies of the respondents. Policy strategy on entrepreneurship development should take cognizance of factors which significantly influenced entrepreneurial resourcefulness of the Nigerian youths in order to enhance enterprise culture and check unemployment rate and its consequences in Nigeria. The study concluded that socio-economic and demographic variables are vital for consideration in nourishing and nurturing entrepreneurial spirit in Nigeria.

Published in	International Journal of Business and Economics Research (Volume 3, Issue 6)
DOI	10.11648/j.ijber.20140306.16
Page(s)	250-258
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2014. Published by Science Publishing Group

Keywords

Socio-Economic Factors, Demographic Factors, Entrepreneurship Development, Nigerian Youth, Driven Factors

References

[1]	Acs, Z., Carlsson, B., And Karlsson, C., (1999), Entrepreneurship, Small And Medium Enterprises And The Macro-Economy. Cambridge University Press, London.
[2]	Bruyat, C. and Julien, P.A., (2000). “Defining the field of research in entrepreneurship”. Journal of Business Venturing 16(2): 165-180.
[3]	Curran, J. & Stanworth, J. (1989). Education And Training For Enterprise: Some Problems of Classification, Evaluation, Policy and Research. International Small Business Journal, 7(2).
[4]	Hansemark, O.C., (2003), Need for Achievement, Locus of Control, and the Prediction of Business Start-Ups: A Longitudinal Study. Journal of Economic Psychology 24(3): 301.
[5]	Leibenstein, H. (1987). Entrepreneurship, entrepreneurial training and x-efficiency theory. Journal of Economic Behaviour and Organization, 8(2), 191-205.
[6]	McMullan, W.E. & Long, W.A. (1983). "An Approach to Educating Entrepreneurs", The Canadian Journal of Business, 4(1), 32-6.
[7]	Parker, S.C. (2005). Learning about the unknown: How fast do entrepreneurs adjust their beliefs? Forthcoming in Journal of Business Venturing.
[8]	Peterman, N. & Kennedy J. (2003). “Enterprise Education: Influencing Students’ Perceptions Of Entrepreneurship,” Entrepreneurship Theory and Practice, 28, 129-144.
[9]	Rae, D. & Carswell, M., (2001). Towards a conceptual understanding of entrepreneurial learning. Journal of Small business and Enterprise Development 8(2): 150-158.
[10]	Saks, N.T. and Gaglio, C.M., (2002), Can Opportunity Identification Be Taught? Journal of Enterprising Culture 10(4): 313-347.
[11]	Wennekers, S and Sternberg, R. (2005). Determinants and Effects of New Business Creation: Global Entrepreneurship Monitor Data. Small Business Economics 24(3). 193.
[12]	Wong, P.K., Ho, Y.P., and Autio, E., (2005), Entrepreneurship, Innovation and Economic Growth: Evidence from GEM data. Small Business Economics 24(3): 335.

Cite This Article

Plain Text BibTeX RIS

APA Style

Dada Matthew Abiodun, Fayomi Olugbenga Abimbola, Simeon-Fayomi Bolanle Clara. (2014). Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors. International Journal of Business and Economics Research, 3(6), 250-258. https://doi.org/10.11648/j.ijber.20140306.16

Copy | Download

ACS Style

Dada Matthew Abiodun; Fayomi Olugbenga Abimbola; Simeon-Fayomi Bolanle Clara. Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors. Int. J. Bus. Econ. Res. 2014, 3(6), 250-258. doi: 10.11648/j.ijber.20140306.16

Copy | Download

AMA Style

Dada Matthew Abiodun, Fayomi Olugbenga Abimbola, Simeon-Fayomi Bolanle Clara. Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors. Int J Bus Econ Res. 2014;3(6):250-258. doi: 10.11648/j.ijber.20140306.16

Copy | Download

@article{10.11648/j.ijber.20140306.16,
  author = {Dada Matthew Abiodun and Fayomi Olugbenga Abimbola and Simeon-Fayomi Bolanle Clara},
  title = {Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors},
  journal = {International Journal of Business and Economics Research},
  volume = {3},
  number = {6},
  pages = {250-258},
  doi = {10.11648/j.ijber.20140306.16},
  url = {https://doi.org/10.11648/j.ijber.20140306.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20140306.16},
  abstract = {This study empirically identified the driven factors into entrepreneurship among Nigerian youths with a view to isolating those factors that are fundamental to youths’ entrepreneurship development in Nigeria. The study employed a survey design. Data were collected on socio-economic and demographic characteristics as well as personal entrepreneurial competencies of the sampled students from the selected three out of the nation’s tertiary institutions. Structured questionnaire was designed and used as instrument of data collection. The reliability of the instrument was established at (r=0.754). The validity of the instrument was also scrutinized by experts before finally used. The data collected were analyzed using inferential statistics. The result showed that age significantly influenced proactiveness and goal setting while marital status significantly influenced demand for efficiency and quality.  Also, exposure to enterprise education/training influenced opportunity seeking, father’s occupation significantly influenced information seeking, and cumulative grade point average significantly influenced information seeking and independence and self confidence. The course of study significantly influenced risk taking propensity, persuasion and networking, and independence and self-confidence.  The area of discipline significantly influenced risk taking propensity while perception of parents’ entrepreneurial success significantly influenced information seeking, risk taking propensity, proactiveness and goal setting and persuasion and networking. On the contrary, mother’s occupation, monthly allowance received, parents’ financial status, position among siblings, where one spent his or her childhood days, ethnic group belonging were found to have no significant influence on personal entrepreneurial competencies of the respondents. Policy strategy on entrepreneurship development should take cognizance of factors which significantly influenced entrepreneurial resourcefulness of the Nigerian youths in order to enhance enterprise culture and check unemployment rate and its consequences in Nigeria. The study concluded that socio-economic and demographic variables are vital for consideration in nourishing and nurturing entrepreneurial spirit in Nigeria.},
 year = {2014}
}

Copy | Download

TY  - JOUR
T1  - Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors
AU  - Dada Matthew Abiodun
AU  - Fayomi Olugbenga Abimbola
AU  - Simeon-Fayomi Bolanle Clara
Y1  - 2014/12/29
PY  - 2014
N1  - https://doi.org/10.11648/j.ijber.20140306.16
DO  - 10.11648/j.ijber.20140306.16
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 250
EP  - 258
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20140306.16
AB  - This study empirically identified the driven factors into entrepreneurship among Nigerian youths with a view to isolating those factors that are fundamental to youths’ entrepreneurship development in Nigeria. The study employed a survey design. Data were collected on socio-economic and demographic characteristics as well as personal entrepreneurial competencies of the sampled students from the selected three out of the nation’s tertiary institutions. Structured questionnaire was designed and used as instrument of data collection. The reliability of the instrument was established at (r=0.754). The validity of the instrument was also scrutinized by experts before finally used. The data collected were analyzed using inferential statistics. The result showed that age significantly influenced proactiveness and goal setting while marital status significantly influenced demand for efficiency and quality.  Also, exposure to enterprise education/training influenced opportunity seeking, father’s occupation significantly influenced information seeking, and cumulative grade point average significantly influenced information seeking and independence and self confidence. The course of study significantly influenced risk taking propensity, persuasion and networking, and independence and self-confidence.  The area of discipline significantly influenced risk taking propensity while perception of parents’ entrepreneurial success significantly influenced information seeking, risk taking propensity, proactiveness and goal setting and persuasion and networking. On the contrary, mother’s occupation, monthly allowance received, parents’ financial status, position among siblings, where one spent his or her childhood days, ethnic group belonging were found to have no significant influence on personal entrepreneurial competencies of the respondents. Policy strategy on entrepreneurship development should take cognizance of factors which significantly influenced entrepreneurial resourcefulness of the Nigerian youths in order to enhance enterprise culture and check unemployment rate and its consequences in Nigeria. The study concluded that socio-economic and demographic variables are vital for consideration in nourishing and nurturing entrepreneurial spirit in Nigeria.
VL  - 3
IS  - 6
ER  -

Copy | Download

Author Information

Dada Matthew Abiodun

Department of Economics, Faculty of social and Management Sciences Wellspring University, Benin City, Nigeria
Fayomi Olugbenga Abimbola

Centre for entrepreneurship and Development Studies, Obafemi Awolowo University, Ile-Ife Nigeria
Simeon-Fayomi Bolanle Clara

Department of Adult Education, Faculty of Education, Obafemi Awolowo University, Ile-Ife Nigeria

Download PDF

Sections

Plain Text BibTeX RIS

APA Style

Dada Matthew Abiodun, Fayomi Olugbenga Abimbola, Simeon-Fayomi Bolanle Clara. (2014). Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors. International Journal of Business and Economics Research, 3(6), 250-258. https://doi.org/10.11648/j.ijber.20140306.16

Copy | Download

ACS Style

Dada Matthew Abiodun; Fayomi Olugbenga Abimbola; Simeon-Fayomi Bolanle Clara. Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors. Int. J. Bus. Econ. Res. 2014, 3(6), 250-258. doi: 10.11648/j.ijber.20140306.16

Copy | Download

AMA Style

Dada Matthew Abiodun, Fayomi Olugbenga Abimbola, Simeon-Fayomi Bolanle Clara. Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors. Int J Bus Econ Res. 2014;3(6):250-258. doi: 10.11648/j.ijber.20140306.16

Copy | Download

@article{10.11648/j.ijber.20140306.16,
  author = {Dada Matthew Abiodun and Fayomi Olugbenga Abimbola and Simeon-Fayomi Bolanle Clara},
  title = {Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors},
  journal = {International Journal of Business and Economics Research},
  volume = {3},
  number = {6},
  pages = {250-258},
  doi = {10.11648/j.ijber.20140306.16},
  url = {https://doi.org/10.11648/j.ijber.20140306.16},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijber.20140306.16},
  abstract = {This study empirically identified the driven factors into entrepreneurship among Nigerian youths with a view to isolating those factors that are fundamental to youths’ entrepreneurship development in Nigeria. The study employed a survey design. Data were collected on socio-economic and demographic characteristics as well as personal entrepreneurial competencies of the sampled students from the selected three out of the nation’s tertiary institutions. Structured questionnaire was designed and used as instrument of data collection. The reliability of the instrument was established at (r=0.754). The validity of the instrument was also scrutinized by experts before finally used. The data collected were analyzed using inferential statistics. The result showed that age significantly influenced proactiveness and goal setting while marital status significantly influenced demand for efficiency and quality.  Also, exposure to enterprise education/training influenced opportunity seeking, father’s occupation significantly influenced information seeking, and cumulative grade point average significantly influenced information seeking and independence and self confidence. The course of study significantly influenced risk taking propensity, persuasion and networking, and independence and self-confidence.  The area of discipline significantly influenced risk taking propensity while perception of parents’ entrepreneurial success significantly influenced information seeking, risk taking propensity, proactiveness and goal setting and persuasion and networking. On the contrary, mother’s occupation, monthly allowance received, parents’ financial status, position among siblings, where one spent his or her childhood days, ethnic group belonging were found to have no significant influence on personal entrepreneurial competencies of the respondents. Policy strategy on entrepreneurship development should take cognizance of factors which significantly influenced entrepreneurial resourcefulness of the Nigerian youths in order to enhance enterprise culture and check unemployment rate and its consequences in Nigeria. The study concluded that socio-economic and demographic variables are vital for consideration in nourishing and nurturing entrepreneurial spirit in Nigeria.},
 year = {2014}
}

Copy | Download

TY  - JOUR
T1  - Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors
AU  - Dada Matthew Abiodun
AU  - Fayomi Olugbenga Abimbola
AU  - Simeon-Fayomi Bolanle Clara
Y1  - 2014/12/29
PY  - 2014
N1  - https://doi.org/10.11648/j.ijber.20140306.16
DO  - 10.11648/j.ijber.20140306.16
T2  - International Journal of Business and Economics Research
JF  - International Journal of Business and Economics Research
JO  - International Journal of Business and Economics Research
SP  - 250
EP  - 258
PB  - Science Publishing Group
SN  - 2328-756X
UR  - https://doi.org/10.11648/j.ijber.20140306.16
AB  - This study empirically identified the driven factors into entrepreneurship among Nigerian youths with a view to isolating those factors that are fundamental to youths’ entrepreneurship development in Nigeria. The study employed a survey design. Data were collected on socio-economic and demographic characteristics as well as personal entrepreneurial competencies of the sampled students from the selected three out of the nation’s tertiary institutions. Structured questionnaire was designed and used as instrument of data collection. The reliability of the instrument was established at (r=0.754). The validity of the instrument was also scrutinized by experts before finally used. The data collected were analyzed using inferential statistics. The result showed that age significantly influenced proactiveness and goal setting while marital status significantly influenced demand for efficiency and quality.  Also, exposure to enterprise education/training influenced opportunity seeking, father’s occupation significantly influenced information seeking, and cumulative grade point average significantly influenced information seeking and independence and self confidence. The course of study significantly influenced risk taking propensity, persuasion and networking, and independence and self-confidence.  The area of discipline significantly influenced risk taking propensity while perception of parents’ entrepreneurial success significantly influenced information seeking, risk taking propensity, proactiveness and goal setting and persuasion and networking. On the contrary, mother’s occupation, monthly allowance received, parents’ financial status, position among siblings, where one spent his or her childhood days, ethnic group belonging were found to have no significant influence on personal entrepreneurial competencies of the respondents. Policy strategy on entrepreneurship development should take cognizance of factors which significantly influenced entrepreneurial resourcefulness of the Nigerian youths in order to enhance enterprise culture and check unemployment rate and its consequences in Nigeria. The study concluded that socio-economic and demographic variables are vital for consideration in nourishing and nurturing entrepreneurial spirit in Nigeria.
VL  - 3
IS  - 6
ER  -

Copy | Download