Creating Businesses by Students, Challenges and Prospects

What is it about?

The goal of this study was to look into and explore the challenges (impacts) and opportunities that University of Cape Coast students encounter. To determine the characteristics impacting student entrepreneurship, the researcher used diffusion of innovation theory, McClelland theory, Abraham Maslow's hierarchy, and Keller's arcs model. The study's objectives included analyzing the academic obstacles or impact of student entrepreneurship, social problems or impact of student entrepreneurship, economic challenges or impact of student entrepreneurship, and the possibilities of entrepreneur ventures. The principal research technique was a self-administered questionnaire in this quantitative study. Descriptive statistics were employed to acquire a broad idea of the data distribution. To get a general understanding of the data distribution, descriptive statistics were used. Frequency distribution and percentages were utilized as descriptive statistical techniques. Students feel entrepreneurship has a negative impact on their academics, but they also believe it has major economic, social, and career benefits, according to the research. As a result, most students believe that entrepreneurship is a worthy concept to pursue while at university, but the largest barrier preventing them from doing so is their concern of compromising their academic standing. A new entrepreneurship program has recently been launched at the University of Cape Coast, which is a positive move in the right direction. Students should also be better aware of the many government and non-government groups financial help options accessible to them. The author suggests that future studies use a bigger sample size to address these issues. Larger sample sizes are necessary for each of the components.

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Photo by Adeolu Eletu on Unsplash

Photo by Adeolu Eletu on Unsplash

Why is it important?

The descriptive statistics revealed that students engaging in entrepreneurship will help improve their social networking, that’s, giving them the opportunity to relate well with others. Moreover, the findings indicated that entrepreneurship help students to go into partnership a venture, that’s entrepreneurship, will help them to establish their own business without relying on the government for jobs after graduation. Furthermore, students often regard entrepreneurship as having a detrimental impact on their academics, but they also believe that there are significant economic, social, and career rewards. As a result, while most students believe that entrepreneurship is a good endeavor to pursue while still in school, the largest barrier preventing them from doing so is their fear of negatively impacting their grades.

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