Factors Associated With Entrepreneurship Development among Graduates in Abuja Municipal Area Council

Abstract

This study examines various factors associated with entrepreneurship development as it examines the perception of unemployed graduates on entrepreneurship in AMAC. The sample size of 395 was derived using Taro Yamane Statistical Formula. The study employed cluster sampling in the selection of respondents as 350 questionnaires were administered and 45 respondents interviewed. The quantitative data (obtained through questionnaire) was analyzed using simple statistical percentages while the qualitative data (derived from interview) was analyzed in narrative and descriptive form. Beside chi-square, contingency was used to determine significant test. The research findings demonstrated that skills development whether domestic, business, agriculture, technical and computer will facilitate job creation though, negative displacement factors like unemployment, job insecurity, etc tend to encourage entrepreneurship. On the other hand, the study further revealed that lack of fund, entrepreneurial skill, policy inconsistency, inadequate infrastructure, innovative ideas and risk are factors preventing entrepreneurship. The study proffers recommendations that entrepreneurial trainings should be provided by experienced entrepreneur or qualified consultants to provide expertise knowledge and mentorship, development of skills should be encouraged as skill acquisition centres is developed in all twelve (12) political wards in AMAC for easy accessibility. AMAC and Ministry of Federal Capital Territory (MFCT) should collaborate with Bank of Industry (BOI) to provide credit facilities to interested graduates to enhance more participation in entrepreneurship and government should embark on infrastructure development to reduce unit cost of production in AMAC particularly in satellite communities.