The Effect of Unemployment on Economic Development in Onitsha South LGA, Anambra State

Ezeokafor Uche R.^1, and Frank Nwankwo²

¹Department of Entrepreneurship Studies, Chukwuemeka Odumegwu Ojukwu University, Igbariam Anambra State, Nigeria

²Department of Cooperative Economics and Management, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria

Cite this paper:
Ezeokafor Uche R. and Frank Nwankwo. The Effect of Unemployment on Economic Development in Onitsha South LGA, Anambra State. Journal of Applied Agricultural Economics and Policy Analysis. 2021; 4(1):54-62. doi: 10.12691/jaaepa-4-1-7

Abstract

The study explored the role of entrepreneurship on economic growth in Onitsha South L.G.A. of Anambra State. Specifically, the study ascertained the relationship between the nation’s indigenous technology capabilities through entrepreneurship and economic growth; assessed the relationship between government policies on entrepreneurship and economic growth; identified the possible ways to improve entrepreneurship and economic growth. Survey design method was adopted. The adoption of this design was because the study involved personal facts, beliefs and attitudes of the respondents. There was no accurate enumeration from Anambra State on the number of entrepreneurship enterprises in the State therefore the researcher used convenience-sampling method to select 103 participants that formed the population and sample while Chi-square inferential statistics was adopted as a method of data analysis. The study revealed that greater numbers of male were involved in entrepreneurship business establishment than female in the studied organizations; the highest numbers of the respondents were between the ages of 39-40. Further results shown that there were more WAEC/GCE qualification holders in entrepreneurship business ownership in Onitsha South L.G.A. of Anambra State than any other group; respondents were of the opinion that entrepreneurship enterprises have a vital role in the development of indigenous technology and economic growth in Onitsha South. In addition, government policies have not been favourable in the establishment of entrepreneurship in Onitsha South. The study recommended that government should amend the multiple tax burdens affecting the establishment of entrepreneurship business in order to encourage more people into venturing into it; assist entrepreneurs in fund raising and equally advise them on how to utilize it effectively. In addition, entrepreneurship enterprises should form mergers; by this, their capital would be placed in a better position when dealing with lending institutions.

Keywords:
unemployment economic development poverty reduction human capital theory risk taking theory infrastructural development entrepreneurship empowerment

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