SOCIO-ECONOMIC PHILOSOPHY OF CONTEMPORARY IGBO APPRENTICESHIP SYSTEM

Abstract

This research work is aimed at investigating the effects of apprenticeship and social capital on new business creation process of Igbo entrepreneurs in Nigeria. The high success rate of apprentice turned entrepreneurs and increasing attachment of these entrepreneurs to their ethnic based union were the reasons that gave rise to the study. Findings revealed that while apprenticeship had significant effects on pre-founding activities when the business was taking off, social capital became important when the business had been established. Apprenticeship is designed to simultaneously train novices in specific craft or trade skills while socializing them to join the social and cultural elite represented by master craftsmen. Using a method of critical analysis, the researcher noticed that apprenticeship had significant effects on business idea generation, idea modification, business location and financing while social capital served as source of insurance services and access to information. Therefore, the researchers recommends that apprenticeship practice should be revived and modernized and also, that ethnic based unions should be given legal recognition and restructured to play both social and economic roles. Keywords: Igbo, Apprenticeship, Nwaboyi, Igba boy, Imu ahia.