Socio-demographic and economic factors associated with owning a business among University students: a case study of Makerere University
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The study sought to examine the socio-demographic and economic factors associated with owning a business among university students. The study used a quantitative research approach using a survey as a research design. The quantitative method was used to demonstrate relationships between the variables of interest to come up with conclusions and recommendations. The study targeted students at Makerere University, Kampala as the population for the study and they provided the primary data for the study. The researcher used questionnaires for data collection. The findings revealed that majority of the respondents were males (56%), 23 years of age (32%), single (97%) and offered BSBS (Bachelor of Science in Business Statistic (28%) and most were from COBAMS (College of Business and Management Science) (90%). The finding also revealed that there is a relationship between owning a business and age of the students (p=0.011 and p<0.05). There is no significant relationship between owning a business and sex of students (p=0.053 and p>0.05) and lastly there is no significant relationship between owning a business and employment status of the students (p=0.788 and p>0.05). The only statistically significant difference in students ability to own a business is between those who are less or equal to 24 years and those 25 years and above. Those who are 25 years and above are nearly 2 time more likely to start a business than those who are less or equal to 24 years of age. Basing on the results of the study, the study recommends that students should be encouraged and motivated to own businesses while they are studying regardless of their age, gender and employment status. This may make them understand that starting business does not depend on their age, sex or even whether they are employed or not. This can be done through formal classes.