The research sought to determine the contribution of business education to the management of small business enterprises in Anambra State. In face of the high illiteracy rate of small scale business entrepreneurs, some scholars have in fact that effective implementation of business education curriculum objectives should be on entrepreneur’s activities. This study intended to determine if business education has an impact in the management of small business enterprises. The population comprised of (350) small business owners. The sample was 186. A twenty one item structural questionnaires validated by two experts was used for data collection. The findings of the work showed that business education has an impact in the management of small business enterprise. First it has enhanced the knowledge and skills of business owners. Secondly that knowledge of business education helps entrepreneurs to perform more profitably. On the basis of the findings it was recommended that government should try to sponsor educational programmes or projects of the small scale business enterprises.
1.1 Background to the Study
Prior to the late 18th century, national economies were dominated by feudal agriculture and in matters of domestic and international economic trade, by the merchants (Galbraith, 2012). The Industrial revolution utilized application by power-driven machinery and as detailed evaluation of new business ideas and methods became known, more entrepreneurs were able to follow suit. With the development of cheap electricity at the end of the 19th century, the Modern Industrial Capitalist (MIC) was established (Galbraith, 2012). From the beginning of the 205th century, studies of business education, structures and business managers increased their knowledge and understanding of how to achieve results beneficial to both shareholders (owners and employees in the management of small business enterprise.
The contributions of business education have developed with significant advances from that time together with organizational structure, management skills and culture systems within small business enterprise (Daft, 1997).
The contribution of business education to managing small business enterprise as concentrated and perceived requirements of the facilitating educational institutions and the perceived outcomes by the employers in the management of small business enterprise.
Small business enterprises play a major role in Nigeria providing both employment and goods/services (Berryman, 2000). The rational for this enhancing the business education skills of the entrepreneurs originated from major concerns displayed by Nigerian Governments since the 1960s, regarding the high level illiteracy and expertise knowledge in the setting and management of small business enterprise, poor financial stability and long-term solvency of small business enterprise.
The business education program provides small business owners with the entrepreneurial, managerial and ownership skills required for a successful career in the ownership or management of a Small to Medium-Sized Enterprise (SME). The Nigerian economy is growing and changing at an unprecedented rate, creating a demand for highly skilled and knowledgeable business professionals.
Embedded in all core requirements in the business education are business sustainability and Corporate Social Responsibility (CSR) models in order to create socially responsible small business managers. The business education also emphasizes individual education/training where small business owners are encouraged to explore their talents and creativity by choosing and working on business project that are of interest to them. In addition, small business owners work on several major business projects including the creation and presentation of a comprehensive business plan, which they may use as a blueprint to start their own business.
Stoner, trophy and Good (2010) asserts that business education has a strong focus on trends, innovation and the digital economy in order to provide small business owners with the forward thinking skills needed to become effective, and successful, business owners. According to Tulip and Bittekerezo (2000) the impact of business education in small business enterprise is also designed to provide employers with laddering options including upgrading to other business areas. They opined that business program is well-suited for small business owners who:
- Want to control their own destiny and start a small to Medium-Sized Enterprise (SME) or use their entrepreneurial spirit to manage an existing SME.
- Are hardworking, motivated and creative visionaries with a strong ability to generate new ideas and to find a better way of doing things.
- Are proactive and “get the job done”.
- Wants to be part of a like-minded team of small business owners and faculty that helps them achieve their goals.
- Wants to prepare themselves for a better future.
- Wants exposure to professors with knowledge and experience in the small and medium environment.
Business education has contributed immensely in the management of small business enterprise in the country as the Business education management and Entrepreneurship program provides small business owners with the managerial concepts and ownership principles required for a successful career in the management or ownership of a small to medium-sized enterprise. This business education program is well-suited to entrepreneurial individuals looking to work with like-minded small business owners to achieve their goals.
It is upon this background of study that the research will examine the contributions of business education in the management of small business enterprise in Anambra State.
1.2 Statement of the Problem.
Small businesses have a variety of managerial problems and lack of markets. Since the small units have been identified as important players in the world markets, it is important that they are supported in their development.
The sufficiency of business education program for the small business enterprise is not evidence in the business sector. Lack of time and business nature could not afford the small business owners the opportunity to key into the business education training. Poor government support and lack of an effective educational policy framework has been a problem that is identified in the study. High level of illiteracy and poor business educational foundation has also bedevilled the intended contributions of business education in the management of small business enterprise in Nigeria.
These among other problems are what motivated the researcher in carrying out this study to examine the contributions of business education in the management of small business enterprise in Anambra State.
1.3 Objective of the study
The main objective of this research work is to assess the contributions of business education in the management of small business enterprise in Anambra State.
- To determine if business education has an impact in the management of small business enterprise.
- To identify the managerial abilities needed in the management of small business enterprise.
1.4 Research Questions
The following research questions guided the study
- To what extent does business education have impact in the management of small business enterprise?
- To what extent does managerial abilities affect the management of small business enterprise?
The following hypotheses have been formulated to test the following research question
H0: There is no significant relationship between business education and the management of small business enterprises.
H0: There is significant relationship between business education and the management of small business enterprises.
H0: There is no significant relationship between managerial abilities and the management of small business enterprises
H1: There is significant relationship between managerial abilities and the management of small business enterprises
1.6 Significance of the Study
The findings of this research work will benefit the followings; small business owners, government, small business associations (SMEDAN), supervising agencies and policy makers, Local government and Ministry of Education and accredited research workers.
The study will go a long way in making the business education exercise a befitting one for the small business owners as they will acquire sufficient managing skills that will enhance their business acumen.
It will benefit the government of Nigeria as they will have the insights on the problems facing the small business enterprise and find avenues to enact enabling laws that will improve the small business owners with maximum assistance and co-operation.
The findings will enable the Local Government or the Ministry of education, responsible for education in that state, to determine the extent of their supports towards business education exercise to the small business enterprise. This will enhance their supportive roles to the management of small business enterprise in Nigeria.
1.7 Scope of the Study
This study is focus on assessing the Contribution of Business Education in the Management of Small Business Enterprise in Anambra State. This is with reference to Millennium Industries Nigeria Limited and Jezco Oil Nigeria Limitedboth which are operating within Anambra State.
1.8 Limitation of the Study
- Attitude of the Respondents: The management of some organization are too reluctant to discharge the information required from them about their organization and they also try to secure most of the online information.
- Finance: Some online materials are secured and before you could have accesses to them, you have to pay some amount of money to the people in charge of that website before they will grant you access to it, it becomes a limitation to the success of the study you are carrying out.