Entrepreneurship Development and Youth Unemployment in Anambra State, Nigeria.

Abstract

The study examined entrepreneurship development and youth unemployment in Anambra State, Nigeria. The specific objectives of the study were as follows: to examine the role of access to finance on youth unemployment in Anambra state, Nigeria; determine the effect of skill acquisition on youth unemployment in Anambra state, Nigeria; evaluate the impact of government policies on youth unemployment in Anambra state, Questionnaire was used to collect data amongst unemployed youth from the selected local government areas in Anambra State. The study was anchored on Joseph Schumpeter’s Theory of Entrepreneurship. The population size of the study is fifty-seven thousand, seven hundred and ten (57,710) and a sample size of 399 was determined using Taro Yemane formula. The sampling technique adopted was the purposive sampling. From the analysis tested, the study revealed that access to bank credit has significant positive effect on youth unemployment in Anambra state; skill acquisition via innovation has significant positive effect on youth unemployment in Anambra state and government policies through entrepreneurship education has significant positive effect on youth unemployment in Anambra state. The study recommended that Government should endeavor to review and make adjustments in educational curriculum and system, especially at the post-secondary levels so that graduates through the instrumentality of entrepreneurship could become employers of labour rather than relying on scarce and mostly unavailable white collar job opportunities. The study concluded that the right skills to fit the various needs of the society are imperative. Adequate financial, physical resources as well as low interest rate fund should be provided by various stakeholders not only for potential but also for existing entrepreneurs.