GOVERNMENT FINANCIAL SUPPORT FOR YOUTHS AND SUCCESSFUL ENTREPRENEURSHIP PRACTICES IN UYO LOCAL GOVERNMENT AREA, AKWA IBOM STATE
Uwah, Udong Monde
Volume 14 Issue 2
Abstract
This study examined the effect of government financial support on the successful entrepreneurship practices of youths. Specifically, the study investigated the effect of access to government grants and government interest-free loans on successful entrepreneurship practices. A survey research design was adopted. The population of the study comprised 320 registered youth entrepreneurs. Using the Taro Yamane (1967) formula, a sample size of 178 respondents was determined. A structured questionnaire was used as the instrument for data collection. The validity of the instrument was established through face and content validity, while the hypotheses were tested using simple linear regression at the 0.05 level of significance. The findings revealed that access to government grants had a significant positive effect on entrepreneurial practices among youths. The study also found that government interest-free loans had a significant positive effect on the successful entrepreneurship practices of youths. The study concluded that government financial support, through grants and interest-free loans, significantly enhances successful entrepreneurship practices among youths. It recommends that the government should increase the availability and accessibility of grant programmes through transparent selection processes and timely disbursement. The study also recommends that the government should expand interest-free loan schemes by simplifying application procedures and providing flexible repayment terms to enable more youths to establish, sustain, and grow successful businesses. Keywords: Government Financial Support, Government Grants, Government Interest-Free Loans, Successful Entrepreneurship Practices, Youth Entrepreneurship.
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