CHAPTER ONE

INTRODUCTION

1. BACKGROUND OF THE STUDY

In this world of accelerating economic globalization, advances in science and technology continue in the blink of an eye, and knowledge is recognized as a core competence in accumulating wealth (Lalkaka, 2002). The latter half of the 20th century has seen science and technology compliment land, labor, and capital as sources of wealth (Etzkowitz, 2003a). Correspondingly, knowledge and innovation have come to be recognized as factors of production (O’Shea, Allen, Morse, O’Gorman, & Roche, 2007). The art of entrepreneurship has the potential to ignite knowledge and innovation within the IT industry. In this environment, then, the question becomes how best to harness and capitalize on knowledge and innovation. With the advent of the internet, the information age has become an opportunistic environment for entrepreneurs. The rapid evolution of technology in the last fifty years plays a significant role in our day to day lives. Information Technology (IT) builds and supports the processes of organizations on a competitive global platform. The shift from the physical world to the virtual world is also a noticeable trend as an increasing number of everyday functions and processes are shifting to an electronic realm. Traditionally, IT entrepreneurship has been most successful and lucrative in most parts of the world. Around the world, we can see that nations have embraced information and communication technology (ICT) as a means to enrich public and private sector processes, while providing citizens with easier access to these services (Fang, 2002).The emergence of technological innovations has opened up to new opportunities and challenges to a nation’s economic development (Yunos, 2002). It is worth to mention that information technology has becoming an important fact to the business community as it helps improve the business processes. The term “technopreneurs” means technology entrepreneurs, which are basically the big, small and medium enterprise ICT and multimedia companies. Focusing on these various enterprises, advancements in ICT and technological adoption will provide channel to accelerate and expand businesses as well as its people, which bears vital importance to the growth and development of entrepreneurs in the knowledge-based economy. Besides daily advancements to better structures and strategies are being explored and developed to help technology-based enterprise grow especially the small and medium ones offering a promising future within the global marketplace, thereby being able to expand themselves to compete in this borderless world, at the same time create, and add value to their business in order to achieve sustainability

1. STATEMENT OF THE PROBLEM

Technopreneurship and small business development is very important to the economic development of any nation. However the telecommunication industry in Nigeria has not reached its full potential; this could be as a result of low level of technopreneurship and small business development in the Nigeria telecommunication industry. The inception of technopreneurship and small business development is usually capital intensive and most of the telecommunication industry in Nigeria lack the technical know-how to introduce advance technologies to business. Lastly there have been series of studies on technopreneurship but not even a single study has tried to find the technopreneurship, small business development and telecommunication nexus. It is to this regard that the study is based on the importance of technopreneurship and small business development in telecommunication industry in Nigeria.

1.3 AIM AND OBJECTIVES OF THE STUDY

The main aim of the research work is to determine the importance of technopreneurship and small business development in telecommunication industry in Nigeria. The specific objectives of the study are:

1. to determine the relationship between technopreneurship and small business development in the telecommunication industry in Nigeria
2. to determine the influence of technopreneurship and small business development on the telecommunication industry in Nigeria
3. to investigate the factors affecting technopreneurship and small business development in the telecommunication industry in Nigeria
4. to proffer solution to the issues and challenges of technpreneurship and small business development in telecommunication industry in Nigeria

1.4 RESEARCH QUESTIONS

The study came up with research questions so as to ascertain the above stated objectives of the study. The following research questions guide the objectives of the study:

1. What is the relationship between technopreneurship and small business development in the telecommunication industry in Nigeria?
2. What is the influence of technopreneurship and small business development on the telecommunication industry in Nigeria?
3. What are the factors affecting technopreneurship and small business development in the telecommunication industry in Nigeria?
4. What is the solution to the issues and challenges of technpreneurship and small business development in telecommunication industry in Nigeria?

1.5 STATEMENT OF THE HYPOTHESIS

H0: there is no significant relationship between technopreneurship and small business development in the telecommunication industry in Nigeria

H1: there is significant relationship between technopreneurship and small business development in the telecommunication industry in Nigeria

 1.6 SIGNIFICANCE OF THE STUDY

The study on the importance of technopreneurship and small business development will be of immense benefit to the telecommunication industry in Nigeria. The study will explore the concept of technopreneurship and small business development and how they can impact the telecommunication industry. The study will also serve as a repository of information to other researchers that desire to carry out similar research on the above topic. Finally the study will contribute to the body of the existing literature on the importance of technopreneurship and small business development in telecommunication industry in Nigeria

1.7 SCOPE OF THE STUDY

The study will cover on the importance of technopreneurship and small business development in telecommunication industry in Nigeria

1.8 LIMITATION OF THE STUDY

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).

Time constraint- The researcher will simultaneously engage in this study with other academic work. This consequently will cut down on the time devoted for the research work.

1.9 DEFINITION OF TERMS

TECHNOPRENEURSHIP: Technopreneur is a new age entrepreneur who makes use of technology to come out with something new to make some innovation. Once the person succeeds in it, s/he exploits his/her achievement in the market to make money. A technopreneur operates business differently from any other businessman.

SMALL BUSINESS: Small businesses are privately owned corporations, partnerships, or sole proprietorships that have fewer employees and/or less annual revenue than a regular-sized business or corporation

TELECOMMUNICATION: Telecommunication is the exchange of signs, signals, messages, words, writings, images and sounds or information of any nature by wire, radio, optical or other electromagnetic systems. Telecommunication occurs when the exchange of information between communication participants includes the use of technology