DOI: 10.36347/sjebm.2015.v02i11.006

Pages: 1115-1127

This paper evaluated the contributions of entrepreneurship on the growth and development of a developing economy using Cross River State of Nigeria as a study area. 50 SMEs operators were sampled from selected tows across the state using stratified sampling method. Mean and chi-square statistics were used for the analysis of data. The findings showed that there is a significant relationship between entrepreneurship and the growth and development of Cross River State. Entrepreneurship creates job opportunities, make people to be self reliant. It makes people to be stable and independent financially. The activities of SMEs have affected positively economic growth and development of Cross River State since it reduces the level of idleness. The findings also show that entrepreneurship increases the gross domestic product (GDP), increase government revenue as taxes are levied on the income of the SMEs and employees. This paper then recommended that government should encourage entrepreneurship through the granting of credit and providing necessary infrastructures. The practical aspects of entrepreneurship should also be demonstrated in schools. This is because when people are given the needed information and training on entrepreneurship, the level of idleness will reduce thereby reducing unemployment rate, reduce crime rate and teenage pregnancies and early marriages.