1.1 Introduction
Entrepreneurship is the process of identifying opportunities, mobilizing resources, and creating new ventures to generate value through innovation and economic development (Hisrich, Peters & Shepherd, 2020). It is widely regarded as a vital engine for job creation, poverty reduction, and sustainable economic growth, especially in developing countries. The concept extends beyond business ownership to include creativity, risk-taking, and problem-solving abilities that enable individuals to transform ideas into viable enterprises (Drucker, 2019).
As a prelude to other parts of this study, this chapter will discuss the background upon which this study was initiated, the statement of problems that led to this study, the Aim and Objectives of the study. Others are Significance of the study, Scope of work, Research hypothesis and questions, Limitation of the study and Definition of terms.
1.2 Background of the Study
Entrepreneurship has become one of the most significant forces driving global economic growth, innovation, and employment generation. According to Hisrich, Peters, and Shepherd (2020), entrepreneurship is the dynamic process of creating incremental wealth by individuals who assume major risks in terms of equity, time, and career commitment to provide value for a product or service. It is regarded as a critical solution to unemployment and poverty, particularly in developing economies like Nigeria, where traditional job opportunities are increasingly limited. Drucker (2019) asserted that entrepreneurship is not just about starting a business but about transforming ideas into economic opportunities through innovation and value creation.
In the Nigerian context, youth entrepreneurship has gained prominence due to the alarming rate of unemployment among graduates. The National Bureau of Statistics (NBS, 2022) reported that youth unemployment stood at over 42%, with many young graduates unable to secure gainful employment in the formal sector. Adebayo and Kemi (2021) stated that this situation has made entrepreneurship an essential pathway to self-reliance and national economic sustainability. However, the success of entrepreneurship largely depends on the attitude of young people toward it as a career choice (Adebayo and Kemi, 2021).
Akinola (2020) affirmed that attitude plays a crucial role in determining whether an individual perceives entrepreneurship as an attractive and achievable career option. Positive attitudes toward entrepreneurship can foster innovation, self-employment, and job creation, while negative attitudes may discourage entrepreneurial behavior despite the availability of opportunities. Ogunlana and Oladipo (2019) contended that Nigerian youths often display a cautious or indifferent attitude toward entrepreneurship due to cultural expectations, financial challenges, and perceived instability of self-employment. Many still regard white-collar jobs as more prestigious and secure compared to the uncertainties of business ventures.
Olawale and Garwe (2019) asserted that one of the critical issues affecting youth participation in entrepreneurship is inadequate institutional support and access to resources such as funding, mentorship, and business networks. These factors create barriers that discourage young people from translating entrepreneurial intentions into practice. Similarly, Nwankwo (2018) reported that societal perceptions in Nigeria often portray entrepreneurship as a career for individuals who could not succeed in the formal sector, leading to a lack of enthusiasm among university students toward entrepreneurial engagement.
According to Eze and Nkamnebe (2020), entrepreneurship education introduced into Nigerian universities was intended to address this issue by equipping students with the necessary skills, knowledge, and mindset to become self-reliant. The University of Lagos, as a leading institution in Nigeria, has integrated entrepreneurship education into its curriculum to encourage students to embrace business creation as a viable career path. However, the implementation of entrepreneurship education has not fully achieved its purpose, as many students still prefer conventional employment over entrepreneurship, reflecting a gap between theoretical knowledge and practical application (Eze and Nkamnebe, 2020).
Morris (2021) asserted that successful entrepreneurial ecosystems thrive when education, mentorship, and cultural acceptance intersect to support innovation and risk-taking. In contrast, many Nigerian students lack real-world exposure to entrepreneurial experiences, resulting in limited motivation to start their ventures. Adebayo and Kemi (2021) affirmed that fostering a positive entrepreneurial culture among youths requires a shift in social orientation and policy emphasis that prioritizes creativity, innovation, and risk tolerance. Furthermore, financial constraints, fear of failure, and the absence of supportive policies have been identified as significant deterrents to youth entrepreneurship in Nigeria. According to Ibrahim and Olamide (2020), many young entrepreneurs are unable to access startup funds or government grants due to bureaucratic barriers and corruption. This study is set against the backdrop of increasing youth unemployment, changing economic realities, and the urgent need to foster an entrepreneurial mindset among Nigerian youths.
1.3 Statement of Problems
Investigation revealed that entrepreneurship is increasingly recognized as a major driver of economic development and innovation in both developed and developing nations. In Nigeria, where youth unemployment continues to rise despite various government interventions, entrepreneurship is seen as a viable alternative for sustainable livelihood and economic empowerment (Adejumo, 2020). However, the attitude of youths towards entrepreneurship as a career choice remains largely influenced by several socio-economic and psychological factors such as risk aversion, access to capital, societal expectations, and the perception of job security in paid employment (Ogunlana & Oladipo, 2019).
On the other hand, there is a growing global trend that promotes entrepreneurship education as a catalyst for youth empowerment and job creation. Universities in developed countries have successfully integrated entrepreneurship programs that inspire students to start their ventures while still in school (Morris, 2021). Unfortunately, in many Nigerian universities, including the University of Lagos, entrepreneurship education is often theoretical and lacks practical exposure, leading to limited entrepreneurial intent among students (Eze & Nkamnebe, 2020).
Furthermore, many Nigerian youths, including university students, still perceive entrepreneurship as a secondary or last resort career option, often due to a lack of exposure, mentorship, and supportive environments within educational institutions (Nwankwo, 2018). The traditional mindset that views success through white-collar employment further discourages many from embracing entrepreneurship, even when they possess the requisite skills and innovative ideas (Olawale & Garwe, 2019). It is against this backdrop that this study seeks to examine the attitude of youths towards entrepreneurship as a career choice.
1.4 Aim and Objectives of the Study
The main aim of this study is to assess the attitude of youths towards entrepreneurship as a career choice with emphasis on University of Lagos students.
The specific objectives of this study include:
- To examine students' perceptions and attitudes towards entrepreneurship as a career option.
- To identify the factors influencing students' entrepreneurial intentions at the University of Lagos.
- To determine the extent to which entrepreneurship education impacts students' career choices.
- To evaluate the challenges faced by students in pursuing entrepreneurship.
- To investigate the role of institutional and societal support in promoting entrepreneurship among youths.
- To propose strategies to enhance positive entrepreneurial attitudes among university students.
1.5 Research Questions
Based on the stated objectives, the study will address the following research questions:
- What are the attitudes of University of Lagos students towards entrepreneurship as a career choice?
- What factors influence the entrepreneurial intentions of University of Lagos students?
- To what extent does entrepreneurship education impact students' career decisions?
- What challenges do students encounter in pursuing entrepreneurship as a career path?
- How do institutional and societal supports influence youth entrepreneurship?
- What strategies can be adopted to improve students' attitudes towards entrepreneurship?
1.6 Significance of the Study
It is believed that at the completion of the study, the findings will reveal the challenges that hinder students from engaging in entrepreneurial ventures and provide solutions for overcoming them. The research will also contribute to educational reforms and national policy-making by promoting entrepreneurship as a sustainable means of youth empowerment and job creation in Nigeria.
Furthermore, the study will increase awareness about entrepreneurship as a credible career path and encourage them to develop entrepreneurial skills and confidence.
Lastly, the findings will help in restructuring entrepreneurship courses to be more practical and experiential, thereby improving students' engagement and interest.
1.7 Research Hypotheses
In order to pursue the objective of this study, the following generalized statements have been designed to guide and aids in obtaining the result for the experiment to be conducted. For this work, the null hypothesis will be represented with H0 while the alternative hypothesis will be represented with hypothesis H1.
Hypothesis One
- H0: There is no significant relationship between students' attitudes and their willingness to pursue entrepreneurship as a career.
- H1: There is a significant relationship between students' attitudes and their willingness to pursue entrepreneurship as a career.
Hypothesis Two
- H0: There is no significant influence of entrepreneurship education on students' career choice.
- H1: There is a significant influence of entrepreneurship education on students' career choice.
1.8 Scope of the Study
The study will be conducted within the University of Lagos, located in Lagos State, Nigeria. It will focus on undergraduate students across different faculties.
The research will cover issues relating to entrepreneurial attitudes, education, and career decision-making processes.
1.9 Limitations of the Study
The study was limited by challenges such as inadequate funding, which restricted the researcher's ability to conduct a more extensive survey. It was also affected by the unavailability of some relevant materials and delayed responses from participants during data collection.
Furthermore, time constraints and logistical challenges restricted the scope of the study to a single university, which may limit the generalizability of the findings.
1.10 Definition of Terms
Attitude:
Attitude refers to an individual's mindset, perception, and feelings toward a specific idea, object, or behavior. According to Fishbein and Ajzen (2010), it determines how a person evaluates and reacts to a subject based on beliefs and experiences.
Youth:
Youth refers to young individuals typically within the age range of 18 to 35 years who possess the energy and potential to contribute to economic and social development (United Nations, 2019).
Entrepreneurship:
Entrepreneurship is the process of identifying business opportunities, organizing resources, and creating value through innovation and risk-taking (Hisrich, Peters & Shepherd, 2020).
Entrepreneurial Attitude:
Entrepreneurial attitude is the predisposition or tendency of individuals to view entrepreneurship positively or negatively as a viable career choice (Akinola, 2020).
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