MOTIVATIONAL FACTORS AND STUDENTS’ ENTREPRENEURIAL INTENTIONS
ABSTRACT
Students' entrepreneurial intention may be affected by different factors. Entrepreneurial intention determines students’ interest to engage in entrepreneurial activities in future. The main objective of this study is to discover the motivational factors affecting entrepreneurial intention of undergraduate students in the University of Benin and how each factor - personality-trait, socially-related, entrepreneurial education and economic factor affect entrepreneurial intention.
The primary data of this research was gathered by distributing 300 questionnaires to respondents from the various faculties in the University of Benin, Benin City. Descriptive analysis was used to analyse the demographic information of respondents, and Pearson correlation was conducted in this research to observe the independent and dependent variables. All the independent variables except entrepreneurship education have a positive significant relationship with entrepreneurial intention.
Major discussion on findings and recommendation for further research are explained in the end of the study.
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION
1.1 Background to the Study    -    -    -    -    -    -    -    
1.2 Statement of the Research Problem    -    -    -    -    -    
1.3 Research Question    -    -    -    -    -    -    -    
1.4 Objectives of the Study    -    -    -    -    -    -    -    
1.5 Research Hypothesis        -    -    -    -    -    -    
1.6 Significance of the Study    -    -    -    -    -    -    -    
1.7 Scope of the Study    -    -    -    -    -    -    -    
1.8 Limitation of the Study    -    -    -    -    -    -    -    
CHAPTER TWO: LITERATURE REVIEW
2.1 Introduction    -    -    -    -    -    -    -    -    
2.2 Entrepreneurship    -    -    -    -    -    -    -    -    
2.3 Entrepreneurial Intention    -    -    -    -    -    -    -    
2.4 Personality-trait Factors    -    -    -    -    -    -    -    
2.4.1 Need for Achievement    -    -    -    -    -    -    -    
2.4.2 Desire for Independence    -    -    -    -    -    -    
2.4.3 Creativity    -    -    -    -    -    -    -    -    
2.5 Economic Factors    -    -    -    -    -    -    -    -    
2.5.1 Desire for Wealth     -    -    -    -    -    -    -    
2.6 Socially-related Factors    -    -    -    -    -    -    -    
2.6.1 Role Models        -    -    -    -    -    -    -    
2.7 Entrepreneurship Education        -    -    -    -    -    
CHAPTER THREE: RESEARCH METHODOLOGY
3.1 Introduction     -    -    -    -    -    -    -    -    
3.2 Research Design    -    -    -    -    -    -    -    -    
3.3 The Population and Sample        -    -    -    -    -    
3.3.1 Population    -    -    -    -    -    -    -    -    
3.3.2 Sampling Population    -    -    -    -    -    -    -    
3.3.3 Sampling Technique    -    -    -    -    -    -    -    
3.3.4 Sampling Size     -    -    -    -    -    -    -    -    
3.4 Operation and Measurement of Variables    -    -    -    -    
3.4.1 Nominal Scale    -    -    -    -    -    -    -    
3.4.2 Ordinal Scale    -    -    -    -    -    -    -    -    
3.4.3 Interval Scale    -    -    -    -    -    -    -    -    
3.5 The Research Instrument    -    -    -    -    -    -    -    
3.5.1Validity of Instrument    -    -    -    -    -    -    -    
3.5.2 Questionnaire Survey    -    -    -    -    -    -    -    
3.5.3 Questionnaire Design    -    -    -    -    -    -    -    
3.6 Sources of Data    -    -    -    -    -    -    -    -    
3.6.1 Primary Data     -    -    -    -    -    -    -    -    
3.7 Method of Data Analysis    -    -    -    -    -    -    -    
CHAPTER FOUR: DATA ANALYSIS AND PRESENTATION
4.1 Introduction    -    -    -    -    -    -    -    -    
4.2 Descriptive Analysis of Demographic Variables    -    -    -    -    
4.3 Data presentation and Analysis of Dependent and Independent Variable    
4.4 Data presentation and Analysis for hypothesis relationship between Dependent and Independent variable    -    -    -    -    -    -    -    -    
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.1 Introduction    -    -    -    -    -    -    -    -    
5.2 Summary of Findings     -    -    -    -    -    -    -    
5.3 Conclusion    -    -    -    -    -    -    -    -    
5.4 Recommendation    -    -    -    -    -    -    -    -    
REFERENCE    -    -    -    -    -    -    -    -    -    
APPENDIX    -    -    -    -    -    -    -    -    -    
LIST OF TABLES
Table 4.1 Summary for Demographic Data of Respondents    -    -        
Table 4.2 Summary for Personality-trait factors    -    -    -    -    
Table 4.3 Summary for Socially-related factors    -    -    -    -    
Table 4.4 Summary for Entrepreneurship Education    -    -    -    -    
Table 4.5 Summary for Economic factors    -    -    -    -    -    
Table 4.6 Summary for Entrepreneurial Intentions     -    -    -    -    
Table 4.7 Relationship between Motivation Factors and Students’
Entrepreneurial Intentions    -    -    -    -    -    -    
 CHAPTER ONE
1.1BACKGROUND TO THE STUDY
In recent times, nations are faced with the challenge of unemployment. Government of various nations have shown interest in entrepreneurs and entrepreneurship because it has been seen as a vehicle to provide employment for young graduate and seen as a driver of economic growth and development.Nafukho and Helen Muyia (2010) proved that entrepreneurship is vital in creating and fulfilling a healthy economy. This is supported by Dickson, Solomon and Mark Weaver (2008) where growth of entrepreneurship is significant to a country’s economy. The number of university students in Nigeria in increasing steadily over the years. Also Nigeria has been seen to be one of the countries with highest employment rate amongst its young graduate, the solution being changing university student’s mindset from job seekers towards entrepreneurship.
Previous studies have also focused on entrepreneurial intentions amongst students. Previous studies have also shown some motivational factors that affect students entrepreneurial intentions to include sense of achievement, sense of freedom, desire for wealth, risk taking, innovation and sense of success (Nor and Yufiza,2004). Individual characteristics and traits have been seen by researchers to have strong positive relationship with entrepreneurial intentions. Some scholars also primarily focus on the effect of personality characteristics on decision making process (Bommett and Furnham 1991;Brockhaus, 1980; Johnson, 1990). According to Yahya (2010) family background, education and gender are also source of motivation in entrepreneurial intentions.
Although, result may vary across studies, there is often a relationship between entrepreneurial intentions and some personality factors. However a person is surrounded by a series of cultural, social, economic, political, demographical and technological factors. Regardless of previous studies, it has not been agreed what exact factors influences students’ intentions for entrepreneurship. For this reason, this study seeks to ascertain the motivational factors influencing students’ entrepreneurial intentions in Nigeria.
1.2 STATEMENT OF THE RESEARCH PROBLEM
In time past, government bodies have tried to inculcate an entrepreneurial mindset amongst university students. The government has made it mandatory that students are exposed to entrepreneurial courses in every tertiary institution. It has not been agreed to what factors that motivates students entrepreneurial intentions in Nigeria. Previous studies have continued to have conflicting views as to what motivates students’ entrepreneurial intentions across countries. This is so because, motivational factors would vary according to environment, situations and other factors where one finds themselves. For instance, according to Hisrich (1996), people can be pushed or pulled by the situational factors, which are related with their personal background and present lives.
The review of literature on entrepreneurship has shown that most scholars have focused on adult entrepreneurship. It is also critical to focus on people who are younger than 25 years and understand which factors affect their intentions to start a business in the future.
1.3 RESEARCH QUESTION
This study seeks to provide answers to what motivational factors affect students’ entrepreneurial intention in the University of Benin, the study will also seek to provide answers to the following research question;
1.    Are students’ entrepreneurial intentions a significant function of personality trait factors?
2.    Is there a relationship between students’ entrepreneurial intentions and socially related factors?
3.    Are students entrepreneurial intentions significantly related to entrepreneurial education?
4.    Are students’ entrepreneurial intentions significantly related to economic factors?
1.4OBJECTIVES OF THE STUDY
General objectives;
The general objective of this research is to investigate the motivational factors affecting students’ entrepreneurial intentions in the University of Benin
The Specific objectives are;
1.    To ascertain if students’ entrepreneurial intentions is a significant function of personality trait factors.
2.    To determine if students’ entrepreneurial intention is a significant function of socially related factors.
3.    To ascertain if students’ entrepreneurial intentions is significantly related to entrepreneurial education
4.    Tofind out if students’ entrepreneurial intentions is significantly related to economic factors.
1.5 RESEARCH HYPOTHESIS
Hypothesis 1
H0- There is no relationship between students’ entrepreneurial intentions and personality-traits factors.
H1-There is a relationship between students’ entrepreneurial intentions and personality-traits factors.
Hypothesis 2
H0--students’ entrepreneurial intentions is not related to economic factors.
H1-students’ entrepreneurial intentions is related to economic factors.
Hypothesis 3
H0- There is no relationship between students’ entrepreneurial intentions and socially-related factors.
H1- There is a relationship between students’ entrepreneurial intentions and socially related factors.
Hypothesis 4
H0-students’ entrepreneurial intentions is not related to entrepreneurial education.
H1-students’ entrepreneurial intentions is related to entrepreneurial education.
1.6SIGNIFICANCE OF THE STUDY
This study is important for undergraduate on their future career path, helping them identify their personal, social or economic motivations towards entrepreneurship. The study also identifies students’ intentions for entrepreneurship and provides information on how they can be positively motivated.
Contribution of Nigerian students to entrepreneurship would stimulate the economic growth of country and help the nation fight the unemployment rate. Entrepreneurs can aid in the growth and development of the country and also aid the nation to move towards more advanced and prosperous economy. Unfortunately, being self-employed is not the main career option Nigerian graduates. This study is important for undergraduate on their future career path, helping them identify their personal, social or economic motivations towards entrepreneurship. The study also identifies students’ intentions for entrepreneurship and provides information on how they can be positively motivated. This study is also important for policy implementation on future development of entrepreneurial program for undergraduates.
By having a good understanding on factors affecting entrepreneurial intention among students, all the plans that proposed by government to increase entrepreneurial activities could be fully utilized.
This research will provide insights to the state of entrepreneurship education for policy makers in Nigeria to inspire entrepreneurial intention, in turn, increasing new business venturing rate.
Lastly, the public will understand their roles in enhancing undergraduates about their intentions and providing social support. Also, parents who are running businesses can provide prior business knowledge and experience for undergraduates to enhance their self-confident for being self-employed. This will lead to increase in entrepreneurs in the country that would then provide employment to the unemployed, thereby improving the standard of living of the public.
1.7SCOPE OF THE STUDY
The factors affecting entrepreneurial intentions are quite broad that it requires an extensive research with various students. To keep the study within a manageable spectrum the researcher has intended to localize and carry out the study using students from various faculties in the University of Benin.
1.8 LIMITATION OF THE STUDY
•    Sample size was limited since the survey was only done in the University of Benin. The sample size may not adequately represent the situation.
•     Time given to complete this research work was very short to carry out an intensive and comprehensive study of this nature.
•    Financial constraint and low response from the respondents as some students were not willing to answer some questions
•    No direct source to some secondary data that might have been helpful for this research.
In spite of these limitations measures have been made to ensure that the results of the study are reliable.