TECHNOLOGICAL ADVANCEMENT AND ENTREPRENEURIAL GROWTH
ABSTRACT
This study examines the impact of technological advancement on entrepreneurial growth in Egor local government area, Benin City.50 questionnaires were administered and retrieved making a response rate of 100% and used as data for the research analyses. Data collected were analyzed with statistical packages for social sciences (SPSS) 24.0 using the descriptive statistics of frequency distribution of the responses and percentages, mean and regression technique. Technological advancement was found to impact positively on entrepreneurial growth. Technological progress alone cannot lead to entrepreneurship growth unless technological breakthroughs are put to economic use by entrepreneurs. Also a positive relationship was found to exist between innovation and entrepreneurial growth. The study recommends that techno- based enterprises should be given special incentives so that positive and creative innovation growth can be accelerated.
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION
1.1    Background to the Study    -    -    -    -    -    -    
1.2    Statement of the Problem    -    -    -    -    -    -    
1.3    Objectives of the Study    -    -    -    -    -    -    
1.4    Hypotheses of the Study    -    -    -    -    -    -    
1.5    Significance of the Study    -    -    -    -    -    -    
1.6    Scope of the Study    -    -    -    -    -    -    
1.7    Limitation of the Study    -    -    -    -    -    -    
CHAPTER TWO: LITERATURE REVIEW
2.1 Conceptual Literature    -    -    -    -    -    -    
2.2 Concept of Technology    -    -    -    -    -    -    
2.3 Relationship between Technology Advancement and
 Entrepreneurial Growth    -    -    -    -    -    
2.4 Theoretical Review    -    -    -    -    -    -    
2.5 Empirical Literature    -    -    -    -    -    -    
CHAPTER THREE: METHODOLOGY
3.1 Research Design    -    -    -    -    -    -    -    
3.2 Population and Sampling    -    -    -    -    -    -    
3.3 Operationalization and Measurement of Variables    -    -    
3.4 Instrument for Data Collection    -    -    -    -    -    
3.5 Sources of Data    -    -    -    -    -    -    -    
3.6 Method of Data Collection    -    -    -    -    -    
3.7 Instrument Validation and Reliability of Instrument    -    -    
3.8 Method of Data Analysis    -    -    -    -    -    -    
CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATIONS
4.1    Introduction    -    -    -    -    -    -    -    
4.2    Descriptive Statistics    -    -    -    -    -    -    
4.3    Data Presentation and Analyses according the
     Research Objectives    -    -    -    -    -    -    
4.4    Testing Hypotheses    -    -    -    -    -    -    
4.5    Discussion of Findings    -    -    -    -    -    -    
CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS
5.1 Introduction    -    -    -    -    -    -    -    
5.2 Summary of Findings    -        -    -    -    -    -    
5.3 Conclusion    -    -    -    -    -    -    -    
5.4 Recommendations    -    -    -    -    -    -    -    
REFERENCES     -    -    -    -    -    -    -    
APPENDIX I    -    -    -    -    -    -    -    -    
APPENDIX II    -    -    -    -    -    -    -    
CHAPTER ONE
INTRODUCTION
1.8    Background to the Study
In recent times, entrepreneurs have been referred to as necessary prerequisite to mobilize capital, exploit natural resources and create markets to carry on trade (Harbinson & Myers, 1984). Entrepreneurs are agents who perform a vital role in the economic growth of a country and are linked to the overall industrial development of a nation. Entrepreneurship is critical for the economy as entrepreneurship is an engine of economic progress, job creation as well as social adjustment (Gurol & Atsan, 2006).Entrepreneurial development has been conceived by successive government as a programme of activities to enhance the knowledge, skill, behavior and attitudes of individual and groups to assume the role of entrepreneurs. Entrepreneurial ventures are considered as the engines for the development of economy and nation. They are the transformation agents and knowledge resource of the nation upon who the responsibility of structured development and radical changes is. Entrepreneurs need technology for undertaking these responsibilities. Technology as a method, tool, process or modification work as a support element for entrepreneurship development. The process of entrepreneurship involves the use of technology at every step whether it is idea generation, idea selection, resource assemblage, production and services, marketing, customer satisfaction or any other aspect related to development of enterprise.
The emergence and development of entrepreneurship is an important phenomenon in contemporary economies (Stefanovic, Ljubodrag & Slobada, 2011). Entrepreneurship is strongly linked to small and medium sized enterprises (SMEs), which are the main developing force of the developed market economies that provides the spring board for industrial development and economic growth. Stefanovic, Milosevic and Miletic (2009) asserts that technological innovation is a key factor in a firm‘s competitive advantage and championing of the crusade for business success. It is (that is; technological innovation) unavoidable for firms that want to develop and maintain a competitive edge and gain entry in to new markets (Bogliacino, Piva & Vivarelli, 2012). Hence, the study examine technological advancement and entrepreneurial development in Nigeria.
1.9    Statement of the Problem
In a developing economy like Nigeria, entrepreneurship play pivotal roles in reengineering the socio-economic landscape of the country. These enterprises largely represent a stage in industrial transition from traditional to modern technology. The variation in transitional nature of this process is reflected in the diversity of these enterprises. Most of the small enterprises use simple skills and machinery as well as local raw materials and technology.
Development experts, professionals from the academia and the business world as well, have been proffering all kinds of strategies to solve the problems of Nigeria’s technological underdevelopment which is the bane of her socio-economic woes. In today’s globalized world that has largely become knowledge/technology driven, it may not be an overstatement to say that technology-business incubators (TBIs) hold the key to Nigeria’s much touted technological advancement and socio-economic development. The reason is that TBIs will facilitate technology/knowledge transfer. Taking this into account they have put in place confidence for building successful entrepreneurial programmes in different parts of Nigeria (Owualah, 1999). In this regard the Federal Government has adopted several strategies and policies towards entrepreneurial development in Nigeria, by establishing Institution and Agencies, which provide variety of support services to entrepreneurs but this has not yielded proper result as the country is still experiencing a low pace of development. The policy implementation saw the introduction of entrepreneurship development programmes (EDP) in Nigeria. These programmes are usually targeted at owner-managers of small business firms as well as those identified to possess potentials for self- employment (Owualah, 1999). For instance, participants in Nigeria's National Directorate of Employment (NDE) and similar programmes in the country are expected to undergo EDP training. This usually include entrepreneurial tool which ranges from the preparation of a business plan with emphasis on finance, marketing, management and production, identification of new business opportunities, alternative suppliers and market, sources of finance, cash flow analysis and record keeping to training people to think and act in an entrepreneurial way (Amaeshi, 2005). Also, there have been lack of innovation in the Nigerian business environment which have brought about low entrepreneurial growth and socio-economic development, hence the need for this study.
The research question arising from the statement of the problem above include the following:
1.    Does technological advancement impact on entrepreneurship development?
2.    Does innovation affect entrepreneurship development?
1.10    Objectives of the Study
The main objective of the study is to examine the impact of technological advancement on entrepreneurial growth. Specifically, the study seek to:
1.    Examine the effect of technological advancement on entrepreneurship development.
2.    Investigate the impact of innovation on entrepreneurship development.
1.11    Hypotheses of the Study
The hypotheses of the study are stated below:
H01: Technological advancement does not have significant impact on entrepreneurship development.
H02: Innovation does not significant affect entrepreneurship development.
1.12    Significance of the Study
The findings of the study would broaden extant literature and provide aid to all relevant stakeholders possessing entrepreneurial skills in the country. This will be in the area of formulating and implementing relevant and pragmatic policies to enhance innovation, creativity as well as technological drive in the country.
Also, the methodological approach being used in testing the formulated hypotheses, and the conclusions reached in the study, will serve as a reference material to future researchers on a similar subject matter. Therefore, this study is expected to provide useful insight into improving entrepreneurial skill as well as technological advancement.
1.13    Scope of the Study
The study examines technological advancement and entrepreneurial development. The study will focus on fifty small and medium scale enterprises in Benin City, Edo State to examine the relationship between the variables. The questionnaire as a research instrument for this study is limited to the research problem and questions already discussed above.
1.14    Limitation of the Study
Admittedly, a number of factors will act as constraints to this study. In the first place, the fact that the samples are drawn from one particular area, on the basis of which generalized conclusion are made, is in itself a limiting factor. In the same vein, by adopting the use of structured self-report questionnaire as a tool to elicit respondents’ responses and unwillingness of respondents to fill the questionnaire objectively may also serve as a limitation. Lastly, the inherent weakness in the self-reported questionnaire is a limitation to the study.