ENTREPRENEURSHIP AS A PANACEA TO ECONOMIC DEVELOPMENT IN UHUNMWONDE LOCAL GOVERNMENT AREA OF EDO STATE

ABSTRACT

This study investigated entrepreneurship as a panacea to economic development in Uhunmwonde Local Government Area of Edo State. In order to achieve the purpose of the study, three research questions were raised and examined. The broad objective of the study are to find out the impacts of entrepreneurship on economic development in Uhunmwonde Local Government Area of Edo State, examine the impacts of entrepreneurship on reduction of poverty in Uhunmwonde Local Government Area of Edo State and ascertain the impact on of entrepreneurship on job creation in Uhunmwonde Local Government Area of Edo State. The study is of utmost relevance as it tends to fill the gap in literature by analyzing the impacts of entrepreneurship on economic development, reduction of poverty and job creation in Uhunmwonde Local Government Area of Edo State. The researchers made use of primary sources of data. The primary sources of data include the questionnaire. In analyzing the data, the researcher made use of frequency count and simple percentage in computing the findings from the research. The findings from the study include that there is a significant impact of entrepreneurship on economic development, reduction of poverty and job creation in Uhunmwonde Local Government Area of Edo State. The study recommended among others that government should encourage people to engage in entrepreneurial activities by providing financial institutions that will give loan to people who are interested in venturing into business. Also, it was recommended that graduates on completion of their programmes should be provided with soft loans to develop and practice entrepreneurship.