Entrepreneurship Ecosystem: Entrepreneurship Culture, Government policy and Development of Entrepreneurs in Uyo Metropolis, Akwa Ibom State (Published)
This study centered on entrepreneurship ecosystem and development of business entrepreneurs in Uyo metropolis of Akwa Ibom State. The study specifically sought to examine the relationship between entrepreneurial culture, government policy and development of entrepreneurs in Uyo metropolis. Using a Survey research design, 380 respondents were investigated. Findings revealed that entrepreneurship culture has positive and significant relationship with development of business entrepreneurs in Uyo metropolis (r = 0.856, p.<0.05); and government policy has a positive and significant relationship with development of business entrepreneurs in Uyo metropolis (r = 0.746, p. <0.05). It was concluded that entrepreneurship ecosystem has a positive and significant relationship with the development of business entrepreneurs in Uyo metropolis of Akwa Ibom State. It was recommended that at various homes, colleges and universities, the culture of entrepreneurship should be encouraged as this will help to create healthy entrepreneurship culture among individuals and the state government, through various agencies, should encourage the development of business entrepreneurs through periodic arrangement of entrepreneurship training, seminars and workshops as these measures will help to direct their focus towards the development of entrepreneurship.
Keywords: Entrepreneurs, entrepreneurship culture, entrepreneurship ecosystem, government policy
CRITICISMS, VARIATIONS AND EXPERIENCES WITH BUSINESS MODEL CANVAS (Published)
The objective of this study is to highlight the importance of the use of BMC to the entrepreneurs and the academic world. In pursuing this objective, the authors want to discuss the BMC problems and criticism and show its variations in order to help entrepreneurs use these models in the right way ‚and successfully plan their businesses. The shortcomings and weaknesses of the model will then be compared with experiences made in the class ‘Entrepreneurship II’ offered in a undergrad course of Business at a Brazilian university in the state of São Paulo. The experience with them highlighted the importance of the use of BMC and it was helpful in developing their business plans. The contribution of this study to the body of knowledge is to fill the vacuum that exists in terms of academic study concerning the use of Business Model Canvas by the entrepreneurs when developing their business plan as well as to advance research in the areas of small and medium enterprises
Keywords: Business Model, Business Model Canvas, Business Plan, Entrepreneurs, Small and Medium Enterprises
Venture Capitalization and Wealth Allocation: The Experience of Piggery Entrepreneurs in Abia State, Nigeria (Published)
This research work analysed venture capitalization and wealth allocation, the experience of piggery entrepreneurs in Abia State, Nigeria. The specific objectives analysed included the examination of the socio-economic characteristics of piggery entrepreneurs; source of venture capital, analyses of entrepreneur’s wealth status, estimation of the factors affecting wealth allocation, analysis of the determinants of venture capital and also, to ascertain the relationship between wealth allocation and venture capitalization of piggery entrepreneurs. Data collections were carried out through a simple random sampling technique and forty (40) piggery operators were chosen from the sample frame. The means of information sourcing was via well-structured questionnaire and oral interview. The analytical techniques were achieved via descriptive statistics, correlation modelling and multiple regression. The result obtained showed that majority of the piggery entrepreneurs were young, married and had household size ranging from 6-10 person with business experience of 11-20 years. Source of venture capital was mainly formal source. Firm size, access to credit value of stock and amount of equity shares were significant factors affecting wealth allocation. The major determinants of venture capitalization included personal savings, value of assets and availability of financial institution issuing the venture capital. There was a strong positive relationship between wealth allocation and venture capitalization. Entrepreneurs wealth status is high relevant in venture capitalization. Thus, it is recommended that piggery entrepreneurs should give attention to attention to building up adequate personal savings, enhance stock value and a strengthened linkage with capable financial institutions, with the essence that these would imbue better wealth allocation and venture capitalization capacity.
Keywords: Allocation, Capitalization, Entrepreneurs, Piggery, Venture, Wealth