ENTREPRENEURIAL COMPETENCY NEEDED BY BUSINESS EDUCATION STUDENTS IN ESTABLISHING SMALL SCALE VENTURES IN LAGOS STATE NIGERIA
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Date
2019-09-07
Authors
Falobi, O.V.
Ishola, N.A.
Jacob, R.P.
Journal Title
Journal ISSN
Volume Title
Publisher
The Department of Arts and Social Sciences Education, Faculty of Education, University of Lagos
Abstract
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.
Description
Scholarly article
Keywords
Small scale ventures , Entrepreneur , Competencies , Economic development , Research Subject Categories::SOCIAL SCIENCES::Social sciences::Education
Citation
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