1.1 Introduction
Entrepreneurial competency refers to a combination of skills, attitudes, and knowledge that enable individuals to effectively perform tasks and responsibilities essential to entrepreneurial activities. These competencies are vital as they form the foundation for students’ readiness to transition from academic learning to practical business ownership (Ekong & Ekong, 2016). Entrepreneurial competencies are critical for individuals, especially students in business education, aiming to succeed in establishing and managing small-scale ventures. The acquisition of these competencies has been shown to directly impact the ability of students to identify and exploit opportunities, navigate challenges, and sustain business growth.
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 Study
Historically, entrepreneurial competency in business education emerged as a response to the changing dynamics of economies worldwide, emphasizing the need to develop job creators rather than job seekers. The integration of entrepreneurial skills into business education in Nigeria began gaining attention in the 1980s and 1990s as the country faced increasing challenges related to youth unemployment and economic stagnation (Ojeifo, 2013).
The evolution of entrepreneurial education in Akwa Ibom State is also tied to national educational reforms, such as the introduction of the National Policy on Education, which called for a curriculum shift towards self-reliance and skill acquisition (Adeyemi, 2018). Consequently, institutions began adopting competency-based learning models aimed at preparing students for the realities of entrepreneurship. Research and recommendations from educational scholars and government bodies have since reinforced the need for these competencies, with studies emphasizing the benefits of hands-on training, internships, and mentorship programs within business education (Akpan & Umanah, 2019).
Today, entrepreneurial competency development has become an integral part of business education programs across Nigeria, particularly in regions like Akwa Ibom State. These programs aim to bridge the gap between theoretical knowledge and practical skills necessary for small-scale venture creation. The historical progression from traditional business training to a competency-based entrepreneurial approach reflects an ongoing commitment to addressing economic and employment challenges through education (Iwu et al., 2019). The role of entrepreneurship in driving economic growth and reducing unemployment has been widely recognized, especially within developing economies like Nigeria. Small-scale ventures contribute significantly to job creation, innovation, and the economic empowerment of local communities. Business education students, as potential entrepreneurs, are positioned to contribute to this economic landscape by establishing small businesses that provide jobs, support families, and promote community development. However, the effectiveness of their transition from academic environments to successful business owners largely depends on the entrepreneurial competencies they acquire during their education (Ojeifo, 2013).
In Akwa Ibom State, the need for entrepreneurial development has been underscored by the high rate of youth unemployment, which has driven interest in fostering self-employment among young graduates (Udo et al., 2017). Business education programs, therefore, play a critical role in imparting essential competencies that empower students to establish and sustain small-scale ventures. According to Akpan and Umanah (2019), the acquisition of entrepreneurial competencies is vital not only for the individual success of these students but also for addressing broader economic challenges within the region. This training includes the development of specific skills such as financial management, customer relations, and market analysis, which are necessary for students to thrive in competitive business environments.
Research has shown that entrepreneurial competencies are best acquired through practical, experience-based learning. Thus, educational institutions in Akwa Ibom State are encouraged to incorporate hands-on, competency-based training within business education programs to equip students with the practical skills required for venture creation (Adeyemi, 2018). With a robust foundation in entrepreneurial skills, business education graduates are better prepared to overcome business start-up challenges, making them valuable assets in contributing to the state’s economic growth and sustainability (Iwu et al., 2019).
In Akwa Ibom State, the need for entrepreneurial competencies among business education students has gained increased attention due to rising youth unemployment and the socio-economic benefits of small-scale businesses in the state (Udo et al., 2017). Akpan and Umanah (2019) observed that the development of competencies such as creativity, risk management, and strategic decision-making are crucial for students’ readiness to establish and run sustainable ventures. Business education programs, therefore, play a significant role in equipping students with the necessary competencies, as they focus on imparting technical knowledge and skills related to business practices and management principles (Ekpo, 2020).
Therefore, in Akwa Ibom State where the research was carried out, the activities that was conducted is to know the entrepreneur competency required by business education student in establishing small scale ventures.
1.3 Statement of Problems
Investigation revealed that there is lack of adequate entrepreneurial training within business education curricula, which often prioritizes traditional business theories over practical entrepreneurial skills like opportunity identification, financial management, and strategic planning. This gap limits students’ ability to understand and navigate the complexities of starting and managing a business (Ekong & Ekong, 2016). Consequently, business education students are ill-prepared to identify viable business opportunities or develop effective business plans, hindering their readiness to establish successful small-scale ventures upon graduation.
Furthermore, limited access to financial resources and mentorship for business education students exacerbates these challenges. Without adequate funding and guidance, students often find it difficult to implement the theoretical knowledge they acquire, making it nearly impossible to establish sustainable ventures (Udo et al., 2017). It is against the backdrop that this study seeks to address these problems by evaluating the entrepreneur competency required by business education student in establishing small scale ventures in Akwa Ibom State.
1.4 Aim and Objectives of Study
The aim of the study is to examine the entrepreneurial competencies required by business education students in establishing small-scale ventures in Akwa Ibom State. In achieving this aim, the following specific objectives were laid out as follows to:
- Identify the essential entrepreneurial competencies needed by business education students to establish and manage small-scale ventures effectively.
- Examine the extent to which business education programs equip students with practical entrepreneurial skills relevant to venture creation.
- Investigate the challenges faced by business education students in acquiring entrepreneurial competencies within the academic setting.
- Assess the role of experiential learning, such as internships and mentorship, in developing entrepreneurial competencies among business education students.
- Provide recommendations on enhancing business education curricula to better support entrepreneurial competency development for small-scale venture success.
1.5 Research Questions
The study came up with research questions so as to be able to ascertain the above stated objectives. The specific research questions for the study are stated below as follows:
- What are the essential entrepreneurial competencies required by business education students to establish and manage small-scale ventures in Akwa Ibom State?
- To what extent do business education programs equip students with practical entrepreneurial skills relevant to small-scale venture creation?
- What challenges do business education students face in acquiring entrepreneurial competencies within the academic setting?
- How does experiential learning, such as internships and mentorship, contribute to the development of entrepreneurial competencies among business education students?
- What improvements can be made to the business education curriculum to better support entrepreneurial competency development for successful small-scale ventures?
1.6 Research Hypothesis
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.
- H01: Challenges in acquiring entrepreneurial competencies, such as limited access to practical training and mentorship, negatively affect the readiness of business education students to start small-scale ventures.
- H02: Business education students who undergo experiential learning, such as internships and mentorship, do not demonstrate higher entrepreneurial competency levels than those who do not
1.7 Significance of Study
The findings will benefit educational institutions by emphasizing the importance of practical, competency-based learning that goes beyond theoretical knowledge, which will help align academic training with real-world business demands. Also, policymakers and curriculum developers will find the study’s recommendations useful in designing and implementing policies that support experiential learning opportunities such as internships, mentorship, and skill-building workshops within business education.
Furthermore, the study will contribute to the body of knowledge on entrepreneurial education in Nigeria, supporting efforts to reduce youth unemployment and foster economic development.
Finally, this study will aid economic development organizations and small business development agencies by providing information on the competencies needed to stimulate small-scale business growth, contributing to job creation and sustainable economic growth in the region.
1.8 Scope of Study
The scope of the research is focused on entrepreneur competency required by business education student in establishing small scale ventures in Akwa Ibom State.
1.9 Limitations of the Study
During the course of this study, there were some problems encountered which stood as limitations to the research work. Some of the limitations include:
- Time Constraint: The time frame given to accomplish this project was very short due to school academic calendar and it was carried out under pressure which made the researcher not to implement some necessary features.
- Financial Constraint: Insufficient fund tends to impede the efficiency of the researcher in sourcing for the relevant materials, literature or information and in the process of data collection (internet, questionnaire and interview).
- Initial Cooperation Delay from Respondents: A particular limitation of this work came as a result of the respondent refusal to offer their cooperation at the initial time they were contacted. This contributed in making the success of this research study difficult.
1.10 Definition of Terms
Entrepreneurial Competency: Entrepreneurial competency refers to the knowledge, skills, attitudes, and behaviors that enable individuals to effectively identify opportunities, start, and manage a business. This includes competencies in areas such as risk management, financial planning, marketing, and strategic decision-making (Mitchelmore & Rowley, 2010).
Business Education: Business education encompasses the teaching and learning processes related to business principles, practices, and management. It aims to equip students with the necessary knowledge and skills to pursue careers in various business sectors, including entrepreneurship (Anyanwu, 2014).
Small Scale Ventures: Small scale ventures are defined as independently owned and operated businesses that are not dominant in their field and typically employ a small number of people. These businesses are crucial for economic development as they contribute to job creation and innovation within local communities (Adeyemi & Ojo, 2016).
