FEASIBILITY STUDY AS A TOOL FOR ENTREPRENEURIAL SUCCESS IN NIGERIA
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Abstract
This study investigates feasibility study as a tool for entrepreneurial success in nigeria. The specific objectives include investigating ways in which feasibility study impact business operations in Nigeria, to determine expenses associated with conducting
feasibility studies, to illustrate how feasibility study provide insight into business environment, examine how capital requirement of a business relate to finding of a feasibility studies and to determine the challenge that hinder entrepreneurs from utilizing feasibility studies. Four research questions guide this study about feasibility study in small and medium-sized enterprises (SMEs) located in Benin City. The sample size comprises 75 respondents, and data were collected through a 75 questionnaire survey of enterprises in Ugbowo, Benin City. The study was analysed using simple percentages, frequency table. This study highlighted the crucial role of entrepreneurship development in job creation in Nigeria. It demonstrated how entrepreneurship initiatives significantly contribute to employment generation, showcasing the positive impact of entrepreneurial activities on the economy. The research identified the challenges entrepreneurs face in securing funding, infrastructure, market access, and regulatory support, and provided insights on how addressing these challenges can further enhance job creation. Additionally, the study underscored the importance of entrepreneurial education programs and mentorship schemes in shaping the entrepreneurial mindset, improving skill sets, and promoting business success among both aspiring and established entrepreneurs in Nigeria
feasibility studies, to illustrate how feasibility study provide insight into business environment, examine how capital requirement of a business relate to finding of a feasibility studies and to determine the challenge that hinder entrepreneurs from utilizing feasibility studies. Four research questions guide this study about feasibility study in small and medium-sized enterprises (SMEs) located in Benin City. The sample size comprises 75 respondents, and data were collected through a 75 questionnaire survey of enterprises in Ugbowo, Benin City. The study was analysed using simple percentages, frequency table. This study highlighted the crucial role of entrepreneurship development in job creation in Nigeria. It demonstrated how entrepreneurship initiatives significantly contribute to employment generation, showcasing the positive impact of entrepreneurial activities on the economy. The research identified the challenges entrepreneurs face in securing funding, infrastructure, market access, and regulatory support, and provided insights on how addressing these challenges can further enhance job creation. Additionally, the study underscored the importance of entrepreneurial education programs and mentorship schemes in shaping the entrepreneurial mindset, improving skill sets, and promoting business success among both aspiring and established entrepreneurs in Nigeria
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