The important role of entrepreneurial development makes it symbolic in examining its relationship with other social phenomena, such as christian prosperity doctrine. Nigeria abstract the small and medium scale enterprises smes dominate the real sector and play roles in the economic development of countries around the world. Interests in the entrepreneurial development continue to be in the forefront of policy debates in the developing countries, especially nigeria. Tertiary education in nigeria is the education given after post basic education institutions such. The reason for this is the vast number of the challenges that. Globalization on exchange rates has no positive effect on the entrepreneurship development in south east, nigeria. Globalisation and entrepreneurial development in nigeria. It is the bedrock of any nations industrialization. Microfinance institutions world over and especially in nigeria are identified to be one of.
A survey carried out by the small and medium enterprises development agency of nigeria smedan in conjunction with national bureau of statistic nbs in 20 revealed. Entrepreneurship, employment and sustainable development in. Nigerian entrepreneurship ecosystem mapping report final. An agency of the department of economic development government of dubai. Entrepreneurship, employment and sustainable development. To nurture entrepreneurial development, small and medium scale enterprise operators or entrepreneurs are being considered as main sustenance of the economy. This paper underscores the importance of policy formulation in entrepreneurship development in nigeria as well as the importance of entrepreneurship in reducing the evergrowing rate of. Entrepreneurial forces are relatively strong in this country, as the lack of jobs and a rise in poverty leave few other options for the nigerian people. Effect of globalization on entrepreneurship development in. Impact of entrepreneurship development programme on. Boi began operations in 1959 as investment company of nigeria icon. By doing so, they would support a cultural and regulatory environment that encourages people to develop original ideas. Several studies have examined entrepreneurship using smes from different jurisdictions using different techniques. International journal of development and economic sustainability vol.
Materials and methods the study was carried out primarily through the survey method and interview of. Introduction nigeria, the most populous country in africa, is naturally endowed with millions and millions of acres of arable land, 38. Foster the development of a flourishing entrepreneurial culture and a competitive smes sector to support dubais economic development goals mission dubai as a global. The reason for this is the huge number of the challenges that entrepreneurship development in nigeria is facing today.
Entrepreneurial interventionism and challenges of youth. The role of entrepreneurship in economic development. Therefore, the quality of instructional delivery should be oriented toward inculcating. Apr 30, 2018 the role of entrepreneurship development in nigerian economy. The paper amongst others looked at the objectives of entrepreneurship development, support organizations for entrepreneurship in nigeria, tips for. In this regard the federal government has adopted several strategies and policies towards entrepreneurial development in nigeria. The role of entrepreneurship in transforming the nigerian economy 1. It canvasses a distinctive categorization to distinguish entrepreneurial firms from non entrepreneurial small. Entrepreneurship development in nigeria information. Pdf globalisation and entrepreneurial development in nigeria. The mediating role of marketing 1akinbola, olufemi amos 2ogunnaike, olaleke oluseye 1,2department of business management, college of development studies. Entrepreneurial development barriers in a developing nation a case study of the nigerian printing smes masters thesis masters of business administration business management and entrepreneurship visamaki spring 2015 ayodeji michael adewale. The need for entrepreneurship development in nigeria has never been so high in the history of the country.
The study was carried out at ilorin, capital city of kwara state, nigeria. Youth empowerment through entrepreneurial development in nigeria. Entrepreneurial interventionism and challenges of youth unemployment in nigeria by dr. The role of entrepreneurship in transforming the nigerian economy. Problems of the study entrepreneurial development is the yearning of every developing economy. Enabling women in a disabling environment by may nwoye1 abstract growth and development are among the most exciting subjects in economics, and the application of their principles to developing countries especially the african economies, is both needed and timely.
Analyses also show that entrepreneurship development in nigeria is mainly hinged on necessity and. The management competencies required by business education students for entrepreneurial development in nigeria. Acquisition of innovative and entrepreneurial skills in. Section 1 is an introduction while section 2 deals. Abimbola and agboola 2011 in a study, environmental factors and entrepreneurship development in nigeria findings show that gender is a force found to. Small and medium enterprises smes in nigeria occupies an exceedingly significant position in the nigerian economy. The nigerian business environment is facing a lot of problems as a result of epileptic power supply, violent clashes of militant groups, kidnapping, looting, arson. Essentially this means the acquisition of skills that will.
Towards these ends, this paper is divided into five sections. Challenges and prospects for quality of life the paper examined women entrepreneurship in nigeria. Entrepreneurship theory in nigeria the development of entrepreneurship theory in nigeria according to akeredolu ale 1975. This entrepreneurial engagement is prevalent in yorubaland of western nigeria, hausaland of the northern nigeria, and among the igbo people of eastern nigeria. That entrepreneurial development depends on three entrepreneurial skills, which affect positively the strategic management and development of entrepreneurial. It canvasses a distinctive categorization to distinguish entrepreneurial firms from nonentrepreneurial small. Nigeria and in other developing economies, as policies and programmes are implemented across.
Entrepreneurship enhances national development, poverty eradication and employment generation. Recently, private sector has dominated the entrepreneurial development policies globally. Abimbola and agboola 2011 in a study, environmental factors and entrepreneurship development in nigeria findings show that gender is a force found to be capable of either impeding or. A study on factors affecting entrepreneurial development. It is necessary and possible to position nigerian universities to stimulate economic growth through a deliberate agenda of production of entrepreneurial graduates. Pdf this paper underscores the importance of policy formulation in entrepreneurship development in nigeria as well as the importance of. Gender responsive entrepreneurial economy of nigeria. The historical background of entrepreneurial development.
Acquisition of innovative and entrepreneurial skills in basic. The importance of microfinance to entrepreneurial development made the central bank of nigeria adopt it as the main source of financing entrepreneurship in nigeria. Education in nigeria is devoid of the element crucial to averting the surging rate of unemployment in the country, therefore the breeding of psychological dependence on direct access to money. Entrepreneurial development through education will. Assessing the prospects and problems of entrepreneurship. The historical background of entrepreneurial development in nigeria.
The persistence of mass unemployment, low productivity and wide spread poverty remain a major rationale for this research. Entrepreneurial education is the incorporation into the student syllabus steps involved in starting a new business based on a recognized business opportunity as well as operating and maintaining that business. In 1964, the organization was re structured under the guidance of the world bank with an authorized share capital of. Relationship exists between socioeconomic, political and environmental factors and the development of entrepreneurship in nigeria. However, many of the lessons learned from experiences in both types. Entrepreneurship development in nigeria science arena. Similarly, osuagwu 2002 added that entrepreneurial development in nigeria should be perceived as a catalyst to increase the rate of. Therefore, it suggests that there is a paucity of research within and outside the nigerian context, on the effects of curriculum contents on entrepreneurial development of university students with emphasis on. The role of entrepreneurship in transforming the nigerian. The following research questions will be answered in order to identify and examine entrepreneurship development programme in nigeria and proffer solutions to them. Despite this, however, finance is still considered as one of the major hindrances to entrepreneurial development in nigeria ubom, 2003. Delta state university asaba, nigeria abstracts although policy makers and practitioners are aware of the importance of entrepreneurship in reducing unemployment among the nigerian youths they have failed to give it the deserved attention. Moreover, entrepreneurship development in nigeria concentrates more on growth potential and innovation.
Microfinance and entrepreneurial development in nigeria carl. The study offers recommendations for policy makers, educators in. Consequently, entrepreneurship development programme is increasingly recognized as important driver of economic growth, generating employment, fostering innovation and poverty reduction through the. A panacea for sustainable development in nigeria 82 search of whitecollar jobs. Entrepreneurial development barriers in a developing nation a case study of the nigerian printing smes. This study assessed the impact of entrepreneurship on economic development in nigeria. It is based on this observation that this paper seeks to look into the challenges and opportunities faced by entrepreneurs in nigeria as they engage in their daily. Although difficult due to a lack of resources, there are nonprofit organizations such as the fate foundation in nigeria that are dedicated to. However, despite the increased call for entrepreneurship, it still requires more improvement. We found that nigerias economy has continued to grow over the last decade with the real gdp growth rate hovering around 7%. The role of government in supporting entrepreneurship.
Access to finance and entrepreneurial development in nigeria. The impact of good governance on entrepreneurship development. Within the context of rising unemployment rates in a skill constrained economy, rising graduate unemployment is particularly worrisome. The historical background of entrepreneurial development in. This research study investigates the impact of microfinance on entrepreneurial development of small scale enterprises in nigeria and its global significance. Assessment of the contribution of women entrepreneur. A study on factors affecting entrepreneurial development in. Pdf entrepreneurial education as a tool for reducing. Small scale enterprise is very crucial to the development of a countrys economy, especially a country like nigeria.
An assessment of business competencies needed by business. D, department of business administration, micahel okpara university of agriculture, umudike, abia state, nigeria. In nigeria, studies have been carried out on the effect of entrepreneurship development on the problem. Furthermore, entrepreneurship development concentrates more on growth potential and innovation than sme development does. The importance, how to, effect causes relationship, comparison, history, role, solutions are discussed. Youth empowerment through entrepreneurial development in. Naude 2011 draws the conclusion that entrepreneurship will contribute to growth and employment creation in advanced, emerging and least developed economies alike. However, despite the increased call for entrepreneurship, it still requires much improvement. In nigeria before the advent of colonial government, unemployment was a rare phenomenon because the people were highly entrepreneurial and productively engaged. The major purpose of the study is to highlight the origin of entrepreneurship and education development in.