Factors affecting Entrepreneurship in Livestock Production among Rural Households in Osun State, Nigeria

Abstract

Livestock production is a major national asset considering its populations and in terms of generating livelihoods for rural populace, and a renewable resource that could be sustained for future development. The study examined the entrepreneurship among two hundred and seven rural livestock farmers in Osun State, Nigeria. Descriptive statistics, Principal Component Analysis (PCA) and tobit regression were used in analyzing the data. Four entrepreneur goals were ranked very high: economic motivation with mean score (?? =3.61); result assessment (?? =3.58); achievement motivation (?? =3.27) and risk orientation, (?? =3.0). Using PCA regression, profit motive (PCA=O.782) and employment (PCA=0.521) were loaded on economic factor, an indication that the quest to be self-fulfilled and financially independent were the major driving forces of engaging in livestock production. Results further showed that asset and wealth creation (PCA=0.821), consumption motive (PCA=0.806) and cultural value (PCA=0.754) were strongly loaded on achievement/result. Evidence from the tobit regression model showed that four variables: age (P>0.05), livestock experience (P<0.05), level of education (P><0.10) and amount invested in livestock (P><0.01) were determinants of entrepreneurship in livestock production among rural farmers. The signs of all the four statistically significant estimated parameters conformed to the a priori expectations with the exception of level of education that carried a negative sign. To improve entrepreneurial skills and competencies, training, seminars, and workshops on livestock farming and formal education were recommended. There is need for training of rural livestock farmers on market orientation and input-output negotiations to enhance better bargaining ability of livestock farmers on both input acquisition and product sales><0.05) level of education (P<0.10) and amount invested in livestock (P><0.01) were determinants of entrepreneurship in livestock production among rural farmers. The signs of all the four statistically significant estimated parameters conformed to the a priori expectations with the exception of level of education that carried a negative sign. To improve entrepreneurial skills and competencies, training, seminars, and workshops on livestock farming and formal education were recommended. There is need for training of rural livestock farmers on market orientation and input-output negotiations to enhance better bargaining ability of livestock farmers on both input acquisition and product sales><0.10) and amount invested in livestock (P<0.01) were determinants of entrepreneurship in livestock production among rural farmers. The signs of all the four statistically significant estimated parameters conformed to the a priori expectations with the exception of level of education that carried a negative sign. To improve entrepreneurial skills and competencies, training, seminars, and workshops on livestock farming and formal education were recommended. There is need for training of rural livestock farmers on market orientation and input-output negotiations to enhance better bargaining ability of livestock farmers on both input acquisition and product sales.><0.01) were determinants of entrepreneurship in livestock production among rural farmers. The signs of all the four statistically significant estimated parameters conformed to the a priori expectations with the exception of level of education that carried a negative sign. To improve entrepreneurial skills and competencies, training, seminars, and workshops on livestock farming and formal education were recommended. There is need for training of rural livestock farmers on market orientation and input-output negotiations to enhance better bargaining ability of livestock farmers on both input acquisition and product sales.