International Journal of Research and Innovation in Social Science (IJRISS) | Volume III, Issue VI, June 2019 | ISSN 2454–6186

The Role of Entrepreneurship in Rural Development in Cross River State, Nigeria

Ihejiamaizu, Grace Chinonye

Department of Social Work, Faculty of Social Sciences, University of Calabar, Calabar, Cross River State, Nigeria

Abstract: – This paper examined the role played by entrepreneurship in rural development in Cross River State, Nigeria. The paper was anchored on the Keynesian Classical Theory. Survey research design was employed for the study. The study employed cluster and simple random sampling technique. Primary data were gathered using a self-administered 4-point Likert Scale questionnaire ranging from Strongly Agree to Strongly Disagree. The data collected were analyzed descriptively using mean rating. The study found that entrepreneurship plays a critical role in rural economic development such as improvement in the standard of living, creation of employment opportunities, alleviation of poverty, utilization of local resources and reduction of rural-urban migration. The major recommendation was that rural entrepreneurship be encouraged and promoted through the provision of incentives to rural entrepreneurs in the form of tax relief and concession for at least 10 years to encourage them to plough back earnings for scaling and expansion. It also recommended that the government pay attention to infrastructure development and maintenance in rural areas as it goes a long way to encourage trade and business transaction within rural communities, improve the socio-economic wellbeing of rural dwellers and serve as stimuli in boosting the rural economy.

Keywords: Entrepreneurship; Rural Development; Standard of Living, Employment Creation, Poverty Alleviation, Resource Utilization; Rural-Urban Migration.

I. INTRODUCTION

Entrepreneurship is the ability to create or build something valuable by mobilizing resources to meet a market need or exploit an opportunity (Ihejiamaizu, 2018).According to Duru (2011), early scholars describe entrepreneurship from the perspective of functions of an entrepreneur, which include as an inventor, imitator, innovator, or more appropriately as a calculated risk taker. Cantillon (1932) was the first to recognize the crucial role of the entrepreneur in economic development, which was founded on individual property right. He said that the essence of the function of the entrepreneur is to bear risk (uncertainty). Kirzner (1997) saw an entrepreneur as someone who is alert to profitable opportunities for exchange – operating on opportunities that arise out of new technology.