DOES ENTREPRENEURSHIP AND INNOVATION ENHANCE ECONOMIC GROWTH: QUANTITATIVE APPROACH

Benedict Azu (PhD), Ifeanyi Shedrack, Tsiwo Queen Adjeke

Abstract


This work is targeted at examine the relationship between entrepreneurship and innovation on economic growth and to investigate the impact of entrepreneurship and economic growth through employment generation, the creation of added value, increasing gross domestic products, and more export activities in Delta State, Nigeria. The study employed a descriptive survey design. The area of the study is Ogwashi- Uku polytechnic and Federal College of Education Asaba, Delta, Nigeria, staff and students are the respondent. The instrument used for this study is primary data. The primary data was obtained through properly structured questionnaire. A total number of two hundred and seventy questionnaires were distributed but only two hundred and fifty four were retrieved. The study found that significant respondents widely agreed that entrepreneurship and innovation plays a significant role in economic growth.  The study affirmed that entrepreneurship has a high statistically significant effect on the economic growth through employment generation, the creation of added value, increasing gross domestic products, and more export activities in Nigeria. It is recommended that governments and policy-makers should promote entrepreneurship by encouraging innovation through initiatives such as reassuring new firm formation via grants and subsidies, loans, tax breaks or relief, and regulatory benefits, employment generation, and providing funding for universities and research institutions to spur economic growth


Keywords


Entrepreneurship, Innovation, Economic growth, Quantitative Approach.

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