Entrepreneurship Development and Wealth Creation in Ikot Ekpene Senatorial District, Akwa Ibom State, Nigeria
Year: 2024
Type: article
Abstract: The current poverty rate in Nigeria is more worrisome. It seems the recourse to massive entrepreneurial activities is now most preferable for an improved standard of living. As such, this study examines the relationship between entrepreneurship development and wealth creation in Ikot Ekpene senatorial district of Akwa Ibom State, Nigeria. Methodologically, descriptive survey design was applied for this study. A Taro Yamane formula was utilized to determine the sample size of 334 out of 1009 population of SMEs from selected L. G. A. in Ikot Ekpene senatorial district using random sampling technique and Bowley’s formula for proportionate representation and distribution of the structured questionnaire which was used to collect data from the respondents. The data collected were analyzed using Pearson’s product moment correlation with the aid of SPSS. The findings revealed that entrepreneurship development has a positive significant relationship with wealth creation. It concluded that entrepreneurship development measured in terms of new business startups and business expansion promotes wealth creation in Ikot Ekpene senatorial district. As a recommendation, this study therefore encourages every Nigerian family to start at least one small business to supplement its income stream for wealth creation in the face of current economic downturn.
Authors: Joseph, Iniobong Thomas, Brownson, Christabel D., Aaron, Akpan
Institution: Akwa Ibom State University
Language: English
Subfield: Management of Technology and Innovation
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W6967715106
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