Reduction Of Unemployment Through Entrepreneurship Development

Introduction

1.1 Background of the Study

Employment is a relationship between two parties, usually based on a contract, one being the employer and the other being the employee.

Self-employment is the act of generating one’s income directly from customers, clients or other organizations as opposed to being an employee of a business (or person).

Generally, tax authorities will view a person as self-employed if the person (1) chooses to be recognized as such, or (2) is generating income such that the person is required to file a tax return under legislation that subsists in the relevant jurisdiction(s). In the real world the critical issue for the taxing authorities is not that the person is trading but is whether the person is profitable and hence potentially taxable. In other words the activity of trading is likely to be ignored if no profit is present, so occasional and hobby- or enthusiast-based economic activity is generally ignored by authorities.

Self-employed people generally find their own work rather than being provided with work by an employer, earning income from a trade or business that they operate. In some countries governments (the United States and UK, for example) are placing more emphasis on clarifying whether an individual is self-employed or engaged in disguised employment, often described as the pretense of a contractual intra-business relationship to hide what is otherwise a simple employer-employee relationship.

Labour markets in developing countries present a complex combination of realities, including paid employment and self-employment, often characterized by persistent informality, low productivity, and limited access to social security. Since regular wage employment is often the exception rather than the rule, understanding the position of youth in the labour market requires a discussion of various measures of labour market outcomes.

The government, Non Governmental organization and individual citizen of Nigeria effort have gone a long way in generating employment across the sectors of the economy.

Despite the effort made so far to combat unemployment, 29,550,000 youth are still unemployment (national bureau for statistics federal republic of Nigeria 2010) which means by implication the number will increase by some Nigeria Youth Corp who will step into the labour market this year. To remedy this government can work on the sector that has the potential of generating employment i.e. agricultural sector particularly fish farming.

Fish farming is an important economic activity in China. Between 1980 and 1997, the Chinese harvests grew at annual rate of 16.7 percent, jumping from 1,900,000 tones to 23,000,000 tones (Source: Chinese Bureau of fisheries report, 2005) which account for 70% of world production of fish.

Nigeria as a nation has a population of 150 million people (population Census 2006) with the unending demand for fish by her populate can adopt the measure that China used in combating unemployment. Therefore, fish farming is one of lucrative business one can learn and earn a very good profit.

According to Grace (2004), fish farming is the art of growing and breeding fish in enclosures such as ponds, multipurpose water reservoirs, irrigation and drainage channels, fish pens constructed at the edges of rivers or lakes, water filled burrow pits as well as fish cages floated on rivers or lakes.

1.2. Statement of Problem

The need to create employment has made government to be taking several measures to tackle the problem through conversing for entrepreneurial behaviour among the youth accompany with initiating of several developmental and empowerment programs through national directorate for employment, releasing of fund from centre bank of Nigeria through bank of industry to micro finance bank.

The fish farming can be considered as an option in the face of unemployment as Nigeria is yet to meet the increase in demand for fish as an alternative source of protein that is not carcinogenic. Fish farming is an economic activity that could lead to improved income and quality of life and it have a high rating because the net return on investment is relatively higher than that of other animal species and its contributory role to national economy cannot be over emphasized.

1.3. Objective of the Study

The search light of this research is primarily focus on fish farming as a tool of enhance business enterprises development as well as creating employment among Nigerian youths. The objectives therefore are as follows:

To examine how investment in fish farming business has helped to enhance business enterprises development in Nigeria.

To examine the impact of business enterprise development (such as fish faming) on Nigerian economy.

To investigate how fish farming can help in creating job opportunity for the teeming population in Nigeria.

To examine marketing potential of fish farming in Nigeria.

1.4 Research Questions

For the effective research study, researcher shall find answer to the following question:

Has investment in fish farming business helped to enhance business enterprises development in Nigeria?

What are the impacts of business enterprise development (such as fish faming) on Nigerian economy?

Can fish farming help in creating job opportunity for the teeming population in Nigeria?

What are the marketing potentials of fish farming business in Nigeria?

1.5 Research Hypotheses

Hypothesis I

Ho: Investment in fish farming business has not helped to enhance business enterprises development in Nigeria.

Hi: Investment in fish farming business has helped to enhance business enterprises development in Nigeria.

Hypothesis II

Ho: There is no significant relationship between business enterprise development (such as fish faming) and the development of Nigerian economy

Hi: There is a significant relationship between business enterprise development (such as fish faming) and the development of Nigerian economy.

Hypothesis III

Ho: Fish farming can not help in creating job opportunity for the teeming population in Nigeria.

Hi: Fish farming can help in creating job opportunity for the teeming population in Nigeria.

Hypothesis IV

Ho: There is no marketing potential for fish farming business in Nigeria.

Ho: There are marketing potentials for fish farming business in Nigeria.

1.6 Significance of the Study

It is an indisputable fact that the study will be of great significant to job seeking graduates in Nigeria, due to the fact that the study helps to provide ways of reducing unemployment and suggesting ways of being an entrepreneur.

It is also hope that the study will be of great benefit to the Government, after been aware of the research by the World Bank that majority of Nigerians falls below the poverty line of $1 per day (World Bank 2002). In looking for how to create employment, fish farming should be consider with the potentiality of creating 23,000 jobs (source chairman fishery society of Nigeria i.e. FISON).

1.7 Scope of the Study

The scope of the study is wide. This is because creating employment in a country like Nigeria where the rate of unemployment is very high and based on the fact that unemployment is a global issue and there are many businesses that are option to creating employment among youth. However this study will be confine to Iyayi fish farming in which data were collected for the study.

1.8 Limitation of the Study

The time and financial constrain are the major limiting factor of this study. Also, on the part of the respondent some information was considered confidential. Some of the fish farmer don’t keep record of their produce in a year because of there educational level.

Lastly at the ministry, the statistical data of the fish farmer in Edo state was not accessible at the time of this study because it was lent out to other student of another institution and they could not return it.

As a result of this, proper management of time and money will be made so as to make an effective research