Entrepreneurship plays a great impact in the development of nigerian economy as it is a business created by an individual or groups of individuals by innovating or. The impact of women entrepreneurship on economic growth. Finally section 5 indicates the conclusion and recommendation of the study. The historical background of entrepreneurial development in nigeria. Ogundele and abiola 2006 revealed that the role of government in entrepreneurship development in nigeria became significant only after the. Some entrepreneurial programs already embarked upon by the federal government of nigeria include. The productive base of the economy and sources of government revenue were yet to be diversified.
Nigeria is progressively trying to incorporate modern technology into its country. Keywords entrepreneurship, entrepreneurial development, barrier, developing nation and. The case of georgia azer dilanchiev abstract the research paper employs the regression analysis of two variables entrepreneurship and unemployment rate from year 2003 to 20. Given the relative neglect of entrepreneurship by development scholars it deals with i recent theoretical insights from the intersection of. Analyses also show that entrepreneurship development in nigeria is mainly hinged on necessity and funded by selffinance, family and friends as the microfinance institutions pose stringent measure for loan. The paper concludes that smes financing could significantly improve entrepreneurship in nigeria and the.
The aim of the paper is to develop and analyse the contributions of entrepreneurship in the economic development through sme development in nigeria. What roles does an entrepreneurship development industry play in nigeria economy. Entrepreneurship development has also led to employment generation, growth of the economy and. The study builds on existing literature on entrepreneurship, economic development and government policy as it relates to entrepreneurial practices. Pdf government policy and entrepreneurship performance.
Expanding entrepreneur development role to sme development role. In order for incountry entrepreneurship to take hold the government and its. The role of government in entrepreneurship development in nigeria became significant only after the nigeria civil war 196770. Fostering the growth of entrepreneurial ecosystems over the past 35 years the level of government interest in entrepreneurship and small business development as potential solutions to flagging economic. 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. In developing countries, the primary barrier to economic growth is often not so much a. Given the generally held view that entrepreneurship development is the key to poverty eradication, employment generation and rapid economic development, various governments in nigeria have, over the past three decades, evolved policies and programmes, aimed at developing entrepreneurship through the development of small and. The government set programmes to help entrepreneurs in the field of technique,finance,market and entrepreneurial development so that. Government initiatives toward entrepreneurship development in nigeria sam b. In nigeria findings can readily be taken up by entrepreneurship development and.
What are the impacts of entrepreneurship on economic development in nigeria. Although there are a lot of barriers, entrepreneurship in nigeria is necessary for the country to become a. Tende, nasarawa state university, keffi abstract government policies and programs promote entrepreneurship and investing in new ventures. The role of entrepreneurship in economic development of. As nigeria yearns for economic growth, emphasis must be laid on entrepreneurship. Nigeria intend to use education as a vehicle for fostering development of all her citizens to their full. Introduction nigeria, the most populous country in africa, is naturally endowed with millions and millions of acres of arable land, 38. The role of entrepreneur was thus a practical response to a need for an organ that will cater for the interest and welfare of people in business and to business development in nigeria. The role of entrepreneurship in economic development. To find out if there is significance in the role played by entrepreneurship in nigeria, also to emphasize the need for entrepreneurship in an economy. Introduction the existence of local government has always been defended on the basis that it is a crucial aspect of the process of democratization and intensification of mass participation in the decisionmaking process. Come browse our large digital warehouse of free sample essays. The role of government in supporting entrepreneurship. Since the mid1980s there has been an increased commitment of government to entrepreneurship development especially after the introduction of the structural adjustment program sap in 1986.
Does the application of entrepreneurship serve as a potential remedy to present nigeria economic recession. Entrepreneurship is one of the most important input in the economic development of a country. This paper introduces entrepreneurship phases in studying the impact of some government policies on entrepreneurial activities. A government, any elected government comes to power after vanquishing an existing government or is reelected by the people to continue on its mandate. With the inclusion of entrepreneurship as part of the development policy agenda there is an opportunity to better link private sector development to the goals of inclusive and sustainable development. In 1934, schumpeter stressed the role entrepreneurship plays in the. Role of government in promoting entrepreneurship government plays a very important role in developing entrepreneurship. He plays a pivotal role not only in the development of industrial sector of a country but also in the development of farm and service sector.
Government policy and entrepreneurship performance. The role of entrepreneurship in transforming the nigerian economy 1. The target population for this study was 609 smes of which a sample of 241 sme owners or managers participated in the study. The case of small, medium and micro enterprises in botswana. This research work covers the period of 20152016, and does not go beyond the topic. The historical background of entrepreneurial development. Entrepreneurship policy framework ii and implementation. Entrepreneurship development background a worldwide consensus on the critical role of competitive markets and entrepreneurs in economic development has emerged in the last decade. However, due to the set of challenges the entrepreneurship in nigeria is not flourishing as in many other countries. Entrepreneurial development barriers in a developing nation a case study of the nigerian printing smes. The role of entrepreneurs in nigerias past and continuing development entrepreneurship has long been regarded as a practice in which an owner or manager of a business enterprise makes money through taking risks and further taking initiative deakins and freel, 2009, p. These include establishment of nigerian industrial development bank nidb.
Pdf the role of government policy in entrepreneurship development. Government policies and programs promote entrepreneurship and investing in new ventures. This paper aims to develop a conceptual framework that examines the role government policy plays in the development of entrepreneurship and its impact on economic development. Entrepreneurship development in nigeria information. However, earlier studies in the area of entrepreneurship have focused on examining the growth. Assessment of the contribution of women entrepreneur. Theory, evidence and policy this paper provides an overview of the state of the art of the intersection of development economics and entrepreneurship.
The impact of government and other institutions support. The entrepreneurship policy framework developed by unctad is. Entrepreneurship brings about desired change and accelerates economic development. The role of local government in rural development issues jide ibietan abstract the central aim or focus of this paper is to highlight the role of local government being the closest tier of government to the grassroots in rural development. Generally this study seeks to explore the role of entrepreneurship development in nigeria economy, with a case study of the hungry man restaurant. Entrepreneurship and small business development are the heart of many countries economy, and countries that give entrepreneurship special attention stand better chances of improved economy and industrialization. Some selected enterprises were used as a case study and questionnaires were administered in order to extract information on this project. Government develop industries in rural and backward areas by giving various facilities with the objective of balances regional development. A panacea for unemployment reduction in nigeria 1oladele, p.
The role of entrepreneurship in transforming the nigerian. For the purposes of the research, a structured questionnaire was sent to 250 smes and to the relevant government institutions at the state, entity and cantonal level such as. Pdf the role of government policy in entrepreneurship. Analyses also show that entrepreneurship development in nigeria is mainly hinged on necessity and. Since the mid 1980s there has been an increased commitment of government to entrepreneurship development especially after the introduction of. Effect of government entrepreneurial policies on economic growth. Government policies and entrepreneurship phases in. The objectives of the study includes to identify the roles. The role of entrepreneurship development in nigeria economy, a case study of the hungry man restaurant wuse ii abuja. Nwite onuma department of educational foundations faculty of education, ebonyi state university. Relationship between entrepreneurship and unemployment. The purpose of this paper is to investigate the influence of government and other institutions support on the performance of small and medium enterprises smes in the manufacturing sector in harare, zimbabwe. An agency of the department of economic development government of dubai. Using a stratified random sampling technique, 250 entrepreneurs and apprenticeships from five recognized local government areas in.
It recommended that government policy should target indirect rather than direct strategies with a greater focus on the role of small firms. Does entrepreneurship play any significant role in economic development during a recession. This paper examines various government policies and programs towards the development of entrepreneurship in nigeria. The personnel involved in this research work were drawn randomly from the upper, middle and lower management level of the organization. This research work was designed to determine the role of small and medium enterprise in the development of nigeria economy. The entrepreneur acts as a trigger head to give spark to economic activities by his entrepreneurial decisions. They concluded that funding of smes in nigeria is very critical if they are to perform their role of growth and development of the nations economy. Integrating entrepreneurship practices with economic development. Entrepreneurship development as a phenomena generating jobs plays a vital role in particular to alleviate high. Entrepreneurship development in nigeria science arena. D department of political science, benue state university, makurdi abstract the paper examines rural or community development in nigeria with emphasis on the institutions, agencies, policies and strategies employed to bring about the much needed. Pdf effect of government entrepreneurial policies on economic. The role of government in entrepreneurship development in.
Read this essay on the role of entrepreneurship in economic development of nigeria. Get the knowledge you need in order to pass your classes and more. A total of 100 smes were randomly selected from a cross section of a population of all smes spread around some states of nigeria and covering virtually all forms of enterprise. The main objective of the study is to investigate the intensity of entrepreneurship training and education as strategic tools for poverty alleviation in nigeria. What is the role of an entrepreneur in economic development. Government initiatives toward entrepreneurship development. D, department of business administration, micahel okpara university of agriculture, umudike, abia state, nigeria. The context of analyses will focus on role of institutions in. Keywords smes, government, development, preformamce, programs, managemen introduction practitioners and scholars have long believed that sme performance can affect an economy.