CHAPTER ONE
1.1 BACKGROUND OF THE STUDY
Entrepreneurship started when people began to produce more products than they required, as such they had to exchange these surplus with others who also wanted to dispose off their surplus. By this way, producers came to realize that they can concentrated in their areas of production to produce more and then exchange with what they needed. Therefore, through this exchange of products, entrepreneurship started.
According to Schumpeter (1961) Entrepreneurship means doing new things or doing things that are already being done in a new way.
Nnenna B.Ani (1999) described entrepreneurship as a creative and innovative response to the environment such responses can take place in any field of social endavour, for instance, in business industry, agriculture, education, social work and the like.
An entrepreneur is different from a manager who only plans organizes and controls a business idea after it has been successfully initiated by the entrepreneur”Lawal A.A Et Al (1998), According to Ani Nnnenna B. (1999) a typically Nigeria entrepreneur is self made man who ,might be said to have strong will to succeed, he might engage the services of others like friends, mates, in laws etc to help him in his work or production through this way Nigerians in the olden days were engaged in entrepreneurship”. Early entrepreneurship characterized with production or manufacturing in which case the producer most often started with a small capital, most of it from his own savings. Early entrepreneurship started with trade by barter even before the advent of any form of money.
In Nigerian modern entrepreneurship started with the coming of the Colonial masters, who brought in their wears and made Nigerians their middlemen. Most of the modern entrepreneur were engaged in retail trade or sole proprietorship.
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