Nigeria into leadership positions at the various tiers of government. Fifty years of entrepreneurship development in nigeria challenges. The significance of the study will add to the knowledge about current issues relating to smes in nigeria. The objective of this paper is to discuss issues and challenges driving entrepreneurship education in nigeria. This study therefore seeks to fulfill this research gap. Prospects and challenges of women entrepreneurs in nigeria by. Youths are neither trained for quality jobs nor for entrepreneurship, which stands as impediments to getting quality jobs. The study adopted a mixed method approach involving the use of selfadministered questionnaires and interviews with women entrepreneurs engaged in diverse sectors in lagos. Department of industrial relations and personnel management, faculty of business administration, university of lago. The great need for entrepreneurship development in nigeria today, more than ever, is necessitated by the rate of unemployment and its effect on both the people and the nation and the need for small and medium enterprises.
Given the challenges that bedevil nigeria, this paper advocates for the inclusion of entrepreneurship at the forefront of its economic development agenda. Entrepreneurship education and the challenges of graduate. Challenges of entrepreneurship development in nigeria many scholars has written of the challenges of entrepreneurship development like onuoha 1994, obeleagu, 2000 and ile 2002 were all of the opinion that inadequate capitals, incompetent. Challenges facing women entrepreneurs in nigeria emerald. Entrepreneurship development is the bedrock of all economic evolution of any nation. In doing so survey data from the global entrepreneurship monitor, the world. Challenges in entrepreneurship education in nigeria policy cornerstone for the future economic growth of any nation. In the early state, entrepreneurship started when people produced more products that they need, as such, they had to. Only elejene, albert obiora, et al persons who are greatly skilled in entrepreneurship can establish and sustain such industries. An overview of entrepreneurship nigeriaanalyzing the development of entrepreneurship in nigeria may be quite complex due to the nature and presence of divergent multi ethnic groups within the national boundaries, the history of entrepreneurship development in nigeria can be seen in two ways. Bringing african solutions to african problems aisa press. The major challenge of entrepreneurship development in nigeria is the poor entrepreneurial culture of the people. Problems and prospects of entrepreneurship in nigeria. The top 10 challenges faced by entrepreneurs today deluxe.
Cultural boundaries cultural boundaries and traditional belief system in nigeria has hindered the startup and growth of femaleowned and managed enterprises. Fifty years of entrepreneurship development in nigeria. The study adopted survey design using primary source of data with questionnaire as instrument of data collection. Entrepreneurship as a cornerstone of development strategies for emerging economies has garnered support among a broad spectrum of scholars, policymakers and governments. Sulaiman, 2010 highlighted the following as the major challenges facing entrepreneurship development in nigeria. This challenge is one of the main reasons why entrepreneurship in nigeria hasnt improved over many years. The impact of good governance on entrepreneurship development. Entrepreneur who are engaged in distributive trade are greatly hampered by this factor. Challenges of entrepreneurial education in nigerian. Other common problems of entrepreneurship in nigeria. Pdf on jan 1, 2012, samuel olumuyiwa olusanya published entrepreneurial challenges in nigeria find, read and cite all the research you. Sep 18, 2014 ofili 2014 in his study, challenges facing entrepreneurship in nigeria has equally reported a number of these issues. The problems of entrepreneurship education are discussed as follows.
The study will take into consideration all micro, small and medium business owners within the elens consult. Professional printers of nigeria cippon, various printingprinters associations and. Entrepreneurship development and unemployment reduction in. Entrepreneurial interventionism and challenges of youth. Introduction nigeria, the most populous country in africa, is naturally endowed with millions of acres of arable. The principle purpose of this study is to examine the custom, personal, business and social. When a new government comes into power, they change policies to suit their interests. Difficulty in securing loans from financial institutions. Some of the challenges faced by entrepreneurs in nigeria. Challenges in entrepreneurship education the importance of entrepreneurship education in nigeria cannot be over emphasized. Hamzat 20 is of the opinion that youth inclusion in government is imperative as no nation can prosper. Objectives of the study the study has the following specific objectives 1. Assessing the prospects and problems of entrepreneurship. Potential nigeria entrepreneurs go through many hardships when trying to access credit for their businesses.
Issues and challenges ayatse, fidelis aondoaseer, ph. Hence, this study focuses on the policy framework, challenges facing women entrepreneurship in nigeria and recommended remedies. Challenges and prospects for quality of life the paper examined women entrepreneurship in nigeria. They are suggesting that business activities in nigeria have been known for. Rationale for students preparation and entrepreneurship.
Human resource management challenges in nigeria under a globalised economy francis c. An overview of the challenges facing youths in nigerian. Studies are abound to cite challenges faced by entrepreneurs in general but none to the best knowledge of the researcher focus on challenges that arise as a result of the inevitable gender differences in zimbabwe. The role of entrepreneurship in transforming the nigerian economy. Challenges to entrepreneurial success in subsaharan africa. D department of business administration, federal university of agriculture, p. The paper opines that entrepreneurship is lacking in nigeria due to certain challenges such as epileptic power supply, lack of genuine support for those intending to start up a business, lack of. Most times businesses have to be run using generators.
Cash flow is essential to small business survival, yet many. Entrepreneurship of bs performance in knowledge based economy. However, despite the increased call for entrepreneurship, it still requires much improvement. Challenges and prospects professor oghojafor, ben emukufia akpoyomare, okonji, patrick sunday, olayemi, olufemi. Pdf challenges facing entrepreneurship in nigeria researchgate. Challenges of entrepreneurship education in nigeria. It is axiomatic to posit that entrepreneurship is a major contributing factor to economic growth and development in any polity. It is against the background that this study attempts to examine the challenges of entrepreneurship development in nigeria.
Even though it is civic responsibility for every citizen and business organization to pay tax to the government, one. Journal of entrepreneurship education volume 21, issue 1, 2018 1 15282651212153 exploring alternative financing for entrepreneurship development in nigeria. The objective of this research was to explore and put in perspective the critical challenges entrepreneurs in subsaharan africa frequently face gaining ground to start a firm. Top 12 challenges of entrepreneurship in nigeria research cyber. The role of cultural values in understanding the challenges faced. Challenges of entrepreneurship education in nigeria global. Finally section 5 indicates the conclusion and recommendation of the study. Some of these includes small capital and lack of credit facility with stiff conditions under which they are given short term perspective of investment returns, and desire for steady revenue. Relegation of the nigerian youths to the background in the scheme of things remains a major challenge to them. Certain basic infrastructural facilities aid the development of. Entrepreneurship development and unemployment reduction. Smallscale operation several factors have been adduced for this.
Entrepreneurship development and employment generation in. Index termsentrepreneurship education, graduates employability, challenges, universities, and nigerian. Challenges and prospect of entrepreneurship training and. The problems and prospects of entrepreneurship activities. This study is try to identify patterns of entrepreneurship and social and economic challenges facing women business owners in african continent. Naturally, the federal government turned to the national universities. Pdf entrepreneurship development in nigeria, prospects and. Prospects and challenges of women entrepreneurs in nigeria a. Nov 28, 2012 this study aims to provide a microlevel perspective of gender related challenges faced by women entrepreneurs in the nigerian socioeconomic context and their future prospects.
Pdf entrepreneurial challenges in nigeria researchgate. Pdf theoretical analysis of entrepreneurship challenges and. Challenges facing entrepreneurs in nigeria introduction. 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. The introductistyle of formal on of western education by the colonial administration, changed graduates mindset from job creation to jobseeking, destroyed selfreliance, selfemployment and entrepreneurial skills of. In all cases, if you become an entrepreneur, it will be for your taste and pleasure, a means to survive and enjoy the uncertainty, and rejoice that you have all these in. 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. The reality on the ground points to a sector packed with worries or barriers. Starting from the local government level to the federal. Education was noted as a vehicle for the entrepreneurial skills acquisition in nigeria. Methodology social entrepreneurship in nigeria faces a dearth of empirical knowledge and findings, as the area is just eliciting academic interest and debate.
The role of entrepreneurship in transforming the nigerian. Surmounting challenges fatai alani lawal, covenant university oluwole o iyiola, covenant university. The reason for this is the huge number of the challenges that entrepreneurship development in nigeria is facing today. Its prevalence among nigeria graduates calls for the identification of a dimension to solve the problem. Challenges of entrepreneurship education in nigeria project.
The paper examined women entrepreneurship in nigeria. This paper looks at the challenges facing entrepreneurship in nigeria and recommend solutions to creating a better entrepreneurial society. Other barriers to entrepreneurship in nigeria include 1. In spite of the fact that entrepreneurship development. Entrepreneurship trends and challenges download book. Problems, issues and challenges of smes in nigeria. Jun 06, 2019 the study examined the critically the challenges entrepreneurship development is facing in nigeria using elens consult as a study. The unstable socioeconomic state of the countrys economy has a significant impact on the progress of entrepreneurship in any country. In nigeria these basic needs are lacking and so have frustrated a lot of young people with bright ideas and a corresponding spirit to effect a change in some areas of their life. This book shows some examples of that possibility, from simple people to a big organization.
Entrepreneurial development focuses on the individual who wishes to start or expand a business. Spinning off an entrepreneurship culture among nigerian university. As a result of this ugly situation, poverty has been running unchecked, job opportunities have vanished, and nigeria s prosperity has dwindled considerably. The reason for this is the huge number of the challenges that entrepreneurship development in nigeria. The poor state of power and other key infrastructures. Challenges to the entrepreneur in nigeria the challenges faced by entrepreneurs in developing countries are monumental and quite similar. Problems, challenges and future opportunities garima choubey bajpai assistant professor, department of english language, shri ram institute of technology jabalpur m. The cost of running a business with a generator reduces the profit which an entrepreneur may earn. Stakeholders in education have initiated it but the destination is still far going by many challenges facing it. Research problemaccording to olagunju, 2008, the problem encountered in an effort to give entrepreneurship a boost include shortage and inadequate infrastructural facilities and unsafe transportation system coupled with collapse road network in nigeria. Entrepreneurship uptake a solution to unemployment challenges in developing countries.
To ascertain the challenges of entrepreneurship development in nigeria. However, the research was premised on the assumption that entrepreneurs in developing countries like nigeria face a lot of challenges hence the informal sector which they belong has not had the desired impacts on the. Challenges facing entrepreneurship in nigeria ofili international. Professional printers of nigeria cippon, various printingprinters associations and individual printing sme owners are the key players in the entrepreneurial developmental activities for the nigerian printing smes.
The practice of entrepreneurship in nigeria a case study of. The need for entrepreneurship development in nigeria has never been so high in the history of the country. The paper concludes that entrepreneurship miracle in other country is an engine for job creation. The paper suggested that government should enact policies that will encourage entrepreneurship development in nigeria, and soft loans made available to prospective entrepreneurs to cushion the challenges of unemployment and industrial development in nigeria. Moreover, another big challenge facing nigerian entrepreneurs today is multiple taxation. Entrepreneurial interventionism and challenges of youth unemployment in nigeria by dr. Pdf entrepreneurship development in nigeria, prospects. Entrepreneurs, smallmedium scale business, business climate, infrastructure and financial challenges, government policy and socioeconomic development. Challenges of female entrepreneurship in nigeria munich. Ict and gender specific challenges faced by female. This research work examined the problems and prospects of entrepreneurship activities and business management practices in nigeria.
Challenges of entrepreneurship education unemployment of university graduates is a serious threat to the individual the economy and the educational sector. The challenges of entrepreneurs development in nigeria and way forward, journal of business and organizational development, vol. The study focused on the entrepreneurship and small and medium enterprises smes initiatives of successive nigerian government. Jan 04, 2016 entrepreneurship education in nigeria is a career course in transition. The primary objective is to attract international attention to african women so that international funding. Prospects and challenges of women entrepreneurs in nigeria. Entrepreneurship uptake a solution to unemployment challenges. This change in policies is another major challenge for entrepreneurs in nigeria. Challenges facing entrepreneurs in nigeria for decades, nigeria, africas most populous country, has experienced severe economic hardships.
Gottleib and ross 1997 observed that entrepreneurs are made and not born and elements of. A study of nigeria article by babalola samuel alabi1, gbemisola sarah idris2 1faculty and department, texila american university mgt 2ekiti state university ado ekiti mgt email. The scope of this study covers the challenges entrepreneurship development in nigeria is facing. L26 introduction statistically, women constitute more than 50% of the nigerian population and out of this, only about 35% of them are involved in entrepreneurship which can be under the form of micro. Ofili 2014 in his study, challenges facing entrepreneurship in nigeria has equally reported a number of these issues. Entrepreneurship education and challenges to nigerian. Challenges and prospects of entrepreneurship in nigeria. The paper examined the challenges of entrepreneurship. Challenges faced by entrepreneurs and the performance of.
1594 447 565 579 1370 744 1567 1210 1703 384 236 1375 226 1572 474 843 519 276 746 1599 1506 1223 76 1440 1514 273 566 1516 772