Effect of Entrepreneurial Development on Employment Creation in Japan
DOI:
https://doi.org/10.53819/81018102t50107Abstract
Entrepreneurship development plays a considerable role in all modern economies. High cases of unemployment all over the world have necessitated entrepreneurial development. Thus, the study examined the effect of entrepreneurial development on employment creation in Japan. The study adopted the descriptive research design. The target population was 297 entrepreneurs based in Tokyo. The collection of the data was done using questionnaires. The study purposively picked the respondents. The analysis of the data was done using descriptive and inferential statistics. The study findings showed that entrepreneurial development is positively and significantly related to employment creation (β=0.875, p=0.002). The study concluded that when entrepreneurial development increases by one unit, employment creation will increase by 0.875 units while holding other factors that influence employment creation constant. The entrepreneurial development efforts play an important role in employment creation. Entrepreneurship activities in Japan have created employment in areas. The growth of entrepreneurship brings about the creation of supplementary businesses that provide raw materials like power and other industrial services like product packaging, marketing, insurance, micro-finance institutions and banks, logistics and communication. Entrepreneurship brings about income empowerment in a country. The study recommended that the government try to raise the number of entrepreneurial development training centers in Japan to enroll many jobless young people. Financial policies should suit small and medium-scale investments in entrepreneurship activities with potential. Entrepreneurship education ought to be given top priority beginning with primary to the tertiary level curriculum. It is also recommended that there is a need for sustained initiatives by government and non-government institutions towards creating entrepreneurship programs to come with proper activities, achieve comprehensive development, and create employment opportunities.
Keywords: Entrepreneurial Development, Employment Creation, Tokyo, Japan
References
Boudreaux, C. J., Nikolaev, B. N., & Klein, P. (2019). Socio-cognitive traits and entrepreneurship: The moderating role of economic institutions. Journal of Business Venturing, 34(1), 178-196. https://doi.org/10.1016/j.jbusvent.2018.08.003
Cho, Y. H., & Lee, J. H. (2018). Entrepreneurial orientation, entrepreneurial education and performance. Asia Pacific Journal of Innovation and Entrepreneurship 5(3), 17-21. https://doi.org/10.1108/APJIE-05-2018-0028
Cho, Y. H., & Lee, J. H. (2020). A study on the effects of entrepreneurial orientation and learning orientation on financial performance: Focusing on mediating effects of market orientation. Sustainability, 12(11), 45-59. https://doi.org/10.3390/su12114594
Chowdhury, F., Audretsch, D. B., & Belitski, M. (2019). Institutions and entrepreneurship quality. Entrepreneurship Theory and Practice, 43(1), 51-81. https://doi.org/10.1177/1042258718780431
Dhahri, S., & Omri, A. (2018). Entrepreneurship contribution to the three pillars of sustainable development: What does the evidence really say? World Development, 10(6), 64-77. https://doi.org/10.1016/j.worlddev.2018.01.008
Edgington, D. W. (2018). Japanese business down under: Patterns of Japanese investment in Australia. Routledge. https://doi.org/10.4324/9780429429088
Hakanen, E., & Rajala, R. (2018). Material intelligence as a driver for value creation in IoT-enabled business ecosystems. Journal of Business & Industrial Marketing 5(3), 16-23. https://doi.org/10.1108/JBIM-11-2015-0217
Hemmert, M., Cross, A. R., Cheng, Y., Kim, J. J., Kotosaka, M., Waldenberger, F., & Zheng, L. J. (2021). New venture entrepreneurship and context in East Asia: a systematic literature review. Asian Business & Management, 6(6), 1-5. https://doi.org/10.1057/s41291-021-00163-1
Lukeš, M., Longo, M. C., & Zouhar, J. (2019). Do business incubators really enhance entrepreneurial growth? Evidence from a large sample of innovative Italian start-ups. Technovation, 8(2), 25-34. https://doi.org/10.1016/j.technovation.2018.07.008
Palmer, C., Kraus, S., Kailer, N., Kallinger, F. L., & Spitzer, J. (2018). Digital entrepreneurship: A research agenda on new business models for the twenty-first century. International Journal of Entrepreneurial Behavior & Research 9(2), 16-32. https://doi.org/10.1108/IJEBR-06-2018-0425
Ratten, V. (2020). Coronavirus (covid-19) and entrepreneurship: changing life and work landscape. Journal of Small Business & Entrepreneurship, 32(5), 503-516. https://doi.org/10.1080/08276331.2020.1790167
Recke, M. P. (2019, September). Sociotechnical Imaginaries and their Metrification that Shape Public Policy towards High-Growth Entrepreneurship in Hamburg, Germany. In European Conference on Innovation and Entrepreneurship (pp. 1210-XXIV). Academic Conferences International Limited.
Ye, L., Liu, C. Y., & Feng, B. (2019). Migrant entrepreneurship in China: entrepreneurial transition and firm performance. Small Business Economics, 52(3), 681-696. https://doi.org/10.1007/s11187-017-9979-y
Zemtsov, S. (2020). New technologies, potential unemployment and ‘nescience economy’during and after the 2020 economic crisis. Regional Science Policy & Practice, 12(4), 723-743. https://doi.org/10.1111/rsp3.12286
