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ENTREPRENEURSHIP MARKETING AND NIGERIAN YOUTH ACTION

ABSTRACT

An important aspect of economic growth in any given nation is the entrepreneurs who promote change and initiate development activities. Due to the inability of large organizations to create enough employment opportunities for our youth, the SME sector has received considerable attention. The main issue of concern in the development of youth enterprises is the generally high failure rate. The purpose of this research project was to evaluate the current youth entrepreneurship programs to establish the effectiveness in ensuring beneficiaries are well equipped to start and run viable ventures. The study adopted a cross-sectional descriptive design to collect data from members of the population considering entrepreneurship marketing and enterprise growth and development as the various variables. The population comprised of the 238 youth enterprises financed by the YEDF in Lagos state. A stratified random sampling method was applied. The sample was considered adequate as it ensured every entity out of the target population of 238 enterprises had an equal chance of being selected. The primary data was collected through structured questionnaires as the only convenient means of data collection. The result of the study showed that the content of entrepreneurship marketing and competence of the trainers was not adequate to prepare the beneficiaries with the required skills for entrepreneurship. The duration of training was also not sufficient to accord trainees practical training and exposure. The entrepreneurship marketing was found to have limitations especially on the curriculum content and process of delivery. The study also noted that youth who have been trained acknowledged to have benefited as they acquired knowledge on effective utilization of resources and provision of quality services and products. The research established a weak positive relationship between the quality of entrepreneurship marketing and growth and development of youth enterprises. The study established that the quality of training being given to the youth does not result to significant growth and development of the youth enterprises. The study recommended that there is therefore need to revise the curriculum used by YEDF to include other training areas such as internship and mentorship in order to improve performance and survival rates of the enterprises.

 

CHAPTER ONE

INTRODUCTION

 

1.1 Background of the study

In many developing economies with high levels of young people, formal employment opportunities are not enough to absorb all youth entering the job market from schools and institutions of higher learning. Young people aged between 15 and 25 years are thought to represent over 60% of Africa’s total population and account for 45% of the total labor force. With an estimated 12.6 young Africans entering the labor market each year, the youth also account for 60% of all the unemployed in the continent (Buruku, 2015). In an era marked by profound technological change young people must prepare for a future in which rapid innovation is accompanied by the passing of traditional social norms such as career paths and job security (Ward, 2004). With high unemployment, public sector retrenchment, downsizing on corporations and other restructuring programmes in many countries, self employment and small enterprise promotion are high on the agenda of virtually every country (Manu and Nelson, 2002). In the aftermath of the global financial crises, youth employment has been recognized as one of the major challenges of our times (Brixiova, 2014).

Entrepreneurship is a critical input for socio-economic development. Sociological theories such as theory of religious beliefs have been referred to in this study. According to Max Weber, entrepreneurism is a function of religious beliefs and impact of religion shapes the entrepreneurial culture. The human capital theory which has education and experience as the underlying factors has also been used in this study. The theory of reasoned action as advocated by Ajzen and Fishbein (1975) was also applied in this research.

 

The establishment of new ventures is likely to have positive impact on youth employment and economic growth. This is due to the fact that it provides youth with an opportunity to build sustainable livelihoods and to integrate into society. It has been established that self-employed youth have higher life satisfaction than youth in the same age group and are more likely to hire fellow youths (Simpson and Christensen, 2009).  Entrepreneurship development improves quality of life and contributes to a more even distribution of income. This is due to the fact that entrepreneurs are focused on the immediate environment they live in and therefore if they prosper, the communities in which they operate prosper as well (Manu, 2002).In an economy where job creation is the panacea for most societal problems, it is important that young people should appreciate the need to become enterprise developers and not merely job seekers (Owualah et al, 2008). Micro and small enterprises are the biggest employment creators in both industrialized and emerging economies (ILO, 2014).

 

1.2 Research Problem

Entrepreneurship marketing is a process through which young people acquire a broad set of competencies which help them to be creative and self-confident in whatever they undertake as it offers them the tools to think creatively and to be effective problem solvers. It is a process of equipping learners with an enhanced capacity to generate ideas and the skills to make them happen. Entrepreneurship marketing extends beyond knowledge acquisition to a wide range of emotional, intellectual, social and practical skills (E.U Commission, 2009). Entrepreneurship marketing is crucial in assisting young people to develop entrepreneurial skills, attitudes and behaviors as well as create awareness to realize entrepreneurship as a worthy career option.

 

The motive for enterprise development originates from the enterprise’s aim of being successful and well positioned. The enterprise should therefore lead towards the higher level of success and towards higher prosperity of the owners (Belak, 1997). Scientists and researchers have established different models of enterprise development. One of the most common models is an analogy of enterprise life cycle built on the product life cycle comprising of the initiation, growth, maturity and decline phases. Growth of an enterprise may take several forms including increased sales, opening branches, introduction of new products or services and diversification. Introducing a new product into an existing market provides the opportunity to take market share from competitors (Hisrich et al, 2007).

 

The youth constitute a very high percentage of unemployment cases in Lagos and this phenomenon manifests itself through high cases of crime and drug abuse especially in major towns such as Ngong and Ongata Rongai. As at May 2015, 238 youth enterprises had received support from the constituency youth enterprise scheme (C-YES). However, the fund continues to experience massive loan default and many of the beneficiaries have not realized their full

potential.

 

An evaluation of an entrepreneurship marketing programme in Uganda found out that training actually had a big positive impact on the SME entrepreneurs (Uganda Investment Authority,

2010). The Microenterprise Fund for Innovation, Effectiveness, Learning and Dissemination (FIELD) conducted an extensive research into the types of training and technical assistance provided by microenterprise programs across USA. The research revealed that although more than 90% of all microenterprise programs provide training and technical assistance, there are few resources available to help implementers improve their services or assess efforts gained against best practice standards (Candace, 2002). Recent studies by the Global Entrepreneurship Monitor found out that while entrepreneurship rates in Sub-Saharan Africa are high, the majority of entrepreneurs are driven by necessity rather than opportunity (Brixiova, 2014). A thorough investigation of problems faced by small enterprises on a daily basis should be done in order to modify current management technique (Gichira, 1997). A research conducted in Githunguri revealed that lack of adequate and appropriate market research is a frequent cause of failure among youth enterprises. All the respondents expressed the desire for training that would enable them improve their businesses, but most enterprises experienced growth even though the respondents had never received any training on entrepreneurship (Njoroge, 2013). A research on the current curricula on youth entrepreneurship marketing revealed that different training institutions are not reading from the same script as far as training potential youth entrepreneurs is concerned (Rori et al, 2011). An analysis of YEDF repayments rates in Lagos indicated that the businesses or projects initiated by the youth were not servicing their loans well (Mburung’a, 2014).

 

Many individuals from different economic, social and educational backgrounds become entrepreneurs without undergoing any training while others do so only after training (Gichira, 1997). The youth access funds as individuals or groups after being taken through some entrepreneurial training. This research sought to find out if entrepreneurship marketing has positive influence on the youth’s ability to grow and develop their enterprises.

 

1.3 Research Objectives

The general objective of this research was to establish the entrepreneurship marketing and Nigerian youth action under the YEDF in Lagos state.

The specific objectives were;

1. To establish level and quality of entrepreneurship marketing.
2. To establish the level of growth and development of youth enterprises.
3. To establish the relationship between quality of entrepreneurship marketing and level of enterprise growth and development.

 

1.4 Research questions

1. What is the level and quality of entrepreneurship marketing?
2. What is the level of growth and development of youth enterprises?
3. What is the relationship between quality of entrepreneurship marketing and level of enterprise growth and development?

 

1.5 Hypothesis of the study

H_O: There is no relationship between entrepreneurship marketing and Nigerian youth action.

H₁: There is a relationship between entrepreneurship marketing and Nigerian youth action.