ENTREPRENEURIAL COMPETENCY NEEDED BY BUSINESS EDUCATION STUDENTS IN ESTABLISHING SMALL SCALE VENTURES IN LAGOS STATE NIGERIA
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The Department of Arts and Social Sciences Education, Faculty of Education, University of Lagos
The study critically assessed Entrepreneurial competency required by business education students in establishing small scale ventures in Lagos State. The researcher used the descriptive survey design for the study. The population of the study comprised 164 business education students in the University of Lagos, Akoka. A sample size of 121 business education students was drawn through simple random sampling technique. A self-constructed questionnaire titled: Entrepreneurial Competency Scale was used to collect data for the study. The instrument was validated and tested for reliability through test retest method which yielded a reliability index of 0.88 using Pearson Product Moment Correlation Coefficient. All the data collected were analyzed using percentage, mean and standard deviation. Findings from the study showed that with a significance level of 2.5 Entrepreneurial competencies are required for the establishment of small scale ventures in Lagos State. Business education students are aware of the challenges of establishing a small scale venture in Lagos state. There are some factors limiting the development of entrepreneurial competency skills in business education students. The study recommends that, since entrepreneurial competency skills such as business management, retail and wholesale management, marketing, advertising and promotion skills are required in the establishment of small scale ventures in Lagos state, adequate entrepreneurial skills should be provided for effective and profitable business start-up, collateral requirements should be reduced for SMEs in order to reduce unemployment rate in the society, and commercial banks and micro finance institutions should be willing to finance good business ideas at low rate of interest.
Small scale ventures , Entrepreneur , Competencies , Economic development , Research Subject Categories::SOCIAL SCIENCES::Social sciences::Education
Falobi, O. V., Ishola, N. A., & Jacob, R.P. (2019). Entrepreneurial competencies needed by business education students in establishing small scale ventures in Lagos state Nigeria. Unilag Journal of Curriculum and Instruction. 1(1), 97-103