Based on literature study, there is a research gap and not. It is important to have a clear description of the term growth. 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. The top ten problem areas of smes in nigeria in decreasing order of. List of social problems in nigeria and solutions top 10. Pdf it is axiomatic to posit that entrepreneurship is a major contributing factor to economic growth and development in any polity. Lets take a closer look at the major problems that have been affecting the development of entrepreneurship in this country. Challenges facing entrepreneurship in nigeria ofili international. Although there are a lot of barriers, entrepreneurship in nigeria is necessary for the country to become a developed nation. The methodology adopted was the narrativetextual case study. Sep 18, 2014 ofili 2014 evaluated the challenges facing entrepreneurship in nigeria, utilizing qualitative research methodology. The impact of entreprenurship on economic development in nigeria a case study salami akeem olanrewaju akinbode, s. Developing countries, developed countries and problems. This paper is concerned with the nature and the extent to which entrepreneurship in nigeria has been developed so far, and outlines the initiative by government and also the main current and future challenges and perspectives for the development of entrepreneurship.
Statement of the problem the main problem of this study is to identify the. The problems and prospects of entrepreneurship education in nigeria department of business education, federal college of education, this paper discusses the problems and prospects of entrepreneurship education towards enhancing sustainable development in nigeria. Entrepreneurship, the pursuit of opportunities despite lacking the necessary resources at the outset, is often celebrated as a hero of the global economy. Nigeria is trying to actively promoting technology in its educational system with the use of the internet. However, due to the set of challenges the entrepreneurship in nigeria is not flourishing as in many other countries. The paper examined women entrepreneurship in nigeria. The significance of the study will add to the knowledge about current issues relating to smes in nigeria. This creates problems in defining the field and the scope of its research.
This article is necessary because of the increasing rate of unemployment in the nigerian society and the inability of smes in the country to generate employment. There is also the lack of a unifying framework that distinguishes. Though government of nigeria is fully aware about the importance of entrepreneurial development, yet we do not have a national policy on entrepreneurship. Entrepreneurship entrepreneurship is the willingness and ability of an individual to seek for. Entrepreneurship theory and creativity owth objectives for companies. The role of entrepreneurship in transforming the nigerian economy 1. Entrepreneurship as we all know is a self employed business which is written for student who must live in a world influenced by business activities, because without business human being cannot operate on his own self. The paper carefully xrays the problems of entrepreneurship education in nigeria. Ofili 2014 evaluated the challenges facing entrepreneurship in nigeria, utilizing qualitative research methodology.
Pdf cultural entrepreneurship development in nigeria. Assessing the prospects and problems of entrepreneurship development in. Entrepreneurial interventionism and challenges of youth. The second dimension of the entrepreneurship paradigm is venture performance. This paper looks at the challenges facing entrepreneurship in nigeria and recommend solutions to creating a better entrepreneurial society. Beyond the conventional roles of universities which include motivating economic growth and development through research and development, building entrepreneurial capabilities. Issues, challenges and prospects of small and medium scale. This research aims at pointing the problems associated with entrepreneurship business in nigeria using sweden as a role model where most entrepreneurs record more success than in nigeria, it then concludes with the solution to achieving success by nigerian entrepreneurs. This challenge is one of the main reasons why entrepreneurship in nigeria hasnt improved over many years. Introduction nigeria, the most populous country in africa, is naturally endowed with millions and millions of acres of arable land, 38. The article discusses issues, challenges, and problems of small and medium scale enterprises smes in nigeria.
The entrepreneurs in nigeria are facing a lot of challenges. The challenges of entrepreneurship in dynamic society 1 1 3445 m. The study discovered that policies formulated by the government are such that. Pdf entrepreneurship is critical to the development of societies.
Pdf challenges facing entrepreneurs in nigeria researchgate. All over the world today, the major sector driving more income and capacity to any country is the number of successful business any entrepreneur was able to make and the success of these business has a volume and tones role to play in the national development and gdp of such nation. This paper discusses the concept of entrepreneurship and the challenges of entrepreneurship education nigeria. Chapter three discusses the research design, data collection methods, sample size determination, questionnaire design and administration, etc. On the one hand, the gallup poll findings show that nigerians are confident in the availability of a qualified workforce, the protection of property rights, and the likelihood of. In nigeria the development of entrepreneurship has gone. The need for entrepreneurship development in nigeria has never been so high in the history of the country. According to some authors, growth seems to be a typical characteristic of entrepreneurial ventures. Entrepreneurship development also focuses a lot on enhancing the ideas and potential of an entrepreneur. Statement of the problem the main problem of this study is to identify the issues and problems that militate against entrepreneurship. Although there are a lot of barriers, entrepreneurship in nigeria is necessary for the country to become a.
Issues and challenges in the development of entrepreneurship. Challenges facing entrepreneurs in nigeria introduction. Entrepreneurial interventionism and challenges of youth unemployment in nigeria by dr. Finally recommendations towards ensuring a full blown entrepreneurship education in nigeria and conclusions were made.
This is owing to the fact that the profits made by entrepreneurs flows as an increase into the national income and thereby increases the nations gross domestic product gdp. Challenges of entrepreneurship education in nigeria kulo. The paper carefully xrays the problems of entrepreneurship education in. The following concepts were clarified in this paper. Fostering the private sector and entrepreneurship depends on a supportive business environment, yet nigerias business climate lags behind many countries in comparable positions african development bank, 2005.
Effect of globalization on entrepreneurship development in. Entrepreneurship of smes performance in knowledge based economy. Introduction tertiary education in nigeria is the education given after post basic education institutions such. Entrepreneurship development and employment generation in. Phd london cna department of economic and management studies, college of social and management sciences afe babalola university, pmb 5454 adoekiti nigeria. The nigerian business environment is facing a lot of problems as.
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. It is axiomatic to posit that entrepreneurship is a major contributing factor to economic growth and development in any polity. With flood of unemployed graduates, nigeria as a country will continue to be a disoriented nation, if she cannot. Globalization facilitates technology entrepreneurship by. Problems such as infrastructural inadequacies, regulatory challenges and corruption were found to be some of the obstacle for entrepreneurship performance in lagos, nigeria. The role of entrepreneurship as a bedrock to achieve sustainable growth and development in nigeria is paramount, therefore, this paper critically examines the challenges of female entrepreneurship so as to proffer plausible solutions to further encourage female entrepreneurship. Assessing the prospects and problems of entrepreneurship. This study is try to identify patterns of entrepreneurship and social and economic challenges facing women business owners in african continent. Challenges and prospects of entrepreneurship in nigeria. Our source of data was from qualitatitaive method of data collection. Problems such as infrastructural inadequacies, regulatory challenges and corruption were found to be some of the obstacle for entrepreneurship performance in.
Challenges of female entrepreneurship in nigeria munich. Entrepreneurship and economic development in nigeria. This is followed by a discussion of issues raised in. Challenges facing entrepreneurship in nigeria semantic scholar. Nowadays, there is a high need for entrepreneurship in nigeria and many organisations and the government have been working on improving entrepreneurship development in nigeria. Challenges faced by entrepreneurs and the performance of. Oct 04, 2018 the article discusses issues, challenges, and problems of small and medium scale enterprises smes in nigeria. However, despite the increased call for entrepreneurship, it still requires more improvement. The challenges of entrepreneurship in dynamic society. The primary objective is to attract international attention to african women so that international funding. Unemployment, entrepreneurship education, jobcreation, entrepreneurial skills, innovation and competency. Entrepreneurship development needs a conducive environment but this is not so in nigeria where socioeconomic problems, political instability and religious intolerance have been identified as the major challenges of entrepreneurship development, examples are benue, north east and abia state. Sep 04, 2018 what are the problems of entrepreneurship in nigeria and solutions.
Several studies have examined entrepreneurship using smes from different jurisdictions using different techniques. There are both opportunities and obstacles to entrepreneurship in nigerias business climate, which could influence a citizens decision whether to start a business. Nigeria is progressively trying to incorporate modern technology into its country. Since the history of entrepreneurship in nigeria is the motive for this article, it is, therefore, reasonable that the term entrepreneurship is discussed in relation to how it affects and how its effects on nigeria has been so far since it came into existence. Pdf challenges facing entrepreneurship in nigeria researchgate. The doing business index ranked nigeria an aggregate 125 out of the 183 economies assessed.
Problems, issues and challenges of smes in nigeria research. Contemporary challenges of entrepreneurship development in nigeria another prospect is the concept of incubator that nurture entrepreneurial activities so as to provide startups with necessary services and support until they mature and are ready to enter. It also examines the effect of entrepreneurship in fostering economic growth and development. The role of entrepreneurship in transforming the nigerian. Problems and prospects of entrepreneurship in nigeria.
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