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Encouraging Entrepreneurship As A Way Of Reducing Unemployment In Bayelsa State
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Statement of the Problem
Unemployment is a socio-economic problem and
every nation deals with it within their respective capacities. As could
be seen from individual research reports and other government
statement, the situation in Nigeria has gone out of hand as about 75
percent of those who are willing to work cannot find gainful employment
in Nigeria, especially among the school leavers and graduates of
tertiary institutions (NBS, 2014).
In 2019 The Bayelsa State
Employment and Expenditure for Results (SEEFOR) in Bayelsa, received
46,985 applications from job seekers in Yenagoa, the state capital, who
want to be employed as minor public workers.
The aim of the
training was to make the beneficiaries become life-time entrepreneurs at
the termination of the 12 months engagement in the SEEFOR project.
“The
intention of the partnering agencies is not to continue to make them
life- time beneficiaries, but entrepreneurs that will soon become
renowned employers of labour,” he said.
He explained that the
selection of beneficiaries were done on the basis of their special needs
which included their household size, dependents on the beneficiaries.
Every
year, new sets of graduates and school leavers add to the stock of
unemployed youth; resulting to increased frustration and aggression
against the society that have refused to provide for them. Successive
governments have made several efforts to combat the menace of youth
unemployment but it appears that the efforts have not impacted
significantly on the level of unemployment as it has continued to be on
the increase in the country. Studies such as (Ekong and Ekong, 2016;
Akanwa and Akpanabia, 2013; Anyadike et al, 2012; Emeh, 2012; Ibrahim,
2010; Kaegon and Nwogu, 2012 and Udeorah, 2014), have all prescribed
entrepreneurship development as a sure means of tackling the growing
rate of unemployment in Nigeria. It is in line of this that this study
is aimed at assessing if encouraging entrepreneurship as a way of
reducing unemployment in Bayelsa state.
1.3 Aim and Objectives of the study
The
major aim of the study is to examine how encouraging entrepreneurship
development can combat the rising rate of unemployment in Nigeria.
However, the specific objectives are to:
Determine the level at which the state government encourages and provides entrepreneurial training.
Determine if state government encouragement in entrepreneurship can affect the rate of unemployment in Bayelsa.
Examine the degree at which the cost of doing business in Bayelsa can hinder entrepreneurship development.
Ascertain the extent in which government incentive on small businesses
can influence entrepreneurship development in Bayelsa.
1.4 Research Questions
The
following research questions were raised to guide the objectives of the
study: 1. To what extent can relevant Governmental institutions and
other entrepreneurial training affect the rate of unemployment in
Nigeria?
2. To what degree can the cost of doing business in Nigeria hinder entrepreneurship development?
3. To what extent can government incentive on small businesses influence entrepreneurship development in Nigeria?
1.5 Research Hypotheses
The following null hypotheses were formulated to guide the objectives of the study and strengthen the analysis:
Ho: Encouraging entrepreneurship cannot affect the rate of unemployment in Nigeria.
Ho: Cost of doing business in Nigeria cannot hinder entrepreneurship development
Ho: Government incentives on small businesses cannot influence the level of entrepreneurship development in Nigeria.
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ABSRACT - [ Total Page(s): 1 ]This study examined how encouraging entrepreneurship can serve as a way for the reduction of youth unemployment in Bayelsa State, Nigeria. The main objective of the study is to evaluate how encouraging entrepreneurship can help reduce youth unemployment. The study used primary data generated from five hundred questionnaires administered to self-employed youths that manage their private businesses in Yenagoa, the capital of Bayelsa State, Nigeria.The results reveal that there is a significant rel ... Continue reading---
