Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors
International Journal of Business and Economics Research
Volume 3, Issue 6, December 2014, Pages: 250-258
Received: Sep. 29, 2014; Accepted: Oct. 29, 2014; Published: Dec. 29, 2014
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Authors
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
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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.
Keywords
Socio-Economic Factors, Demographic Factors, Entrepreneurship Development, Nigerian Youth, Driven Factors
To cite this article
Dada Matthew Abiodun, Fayomi Olugbenga Abimbola, Simeon-Fayomi Bolanle Clara, Entrepreneurship Development among Nigerian Youths, Empirical Identification of the Driven Factors, International Journal of Business and Economics Research. Vol. 3, No. 6, 2014, pp. 250-258. doi: 10.11648/j.ijber.20140306.16
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