ENTREPRENEURSHIP
Raheem Olasupo Akewushola
Department of Business Administration and Management Technology
Lagos State University, Lagos, Nigeria.
Olawale Ibrahim Olateju
Department of Business Administration and Management Technology
Lagos State University, Lagos, Nigeria.
Oludare Tolulope Adeyemi
Dimension Consult Limited, Lagos, Nigeria
ABSTRACT
This paper identified crucial factors influencing the growth and development of entrepreneurship activity and specific role of entrepreneurship activity at ameliorating the burden of poverty, among people in Lagos State, Nigeria. It addresses specific causal factors, indices of poverty and unemployment and proffered panacea to the identified problems.
The choice of Lagos State was purposive because of its disposition as the commercial nucleus centre of the country. A multistage sampling procedure was adopted to get a sample size of 250 respondents. Descriptive statistics (such as frequency counts, percentages and means) were used to summarise and describe the data.
The findings reveal that entrepreneurial activities absorbs unemployed labour and reduces the dependency ratio of working class. It was also evident that optimum positive derivatives of entrepreneurship was not realized because of inherent problems of non-availability of accessible credit facilities and lack of multi-functional continuum of support to entrepreneurs. Keywords: Entrepreneurship, Poverty, Development, Growth, Unemployment.
1. Introduction
unresponsive
Poverty in Africa is substantially higher
Underlying this trend is the fact that the
than in other developing regions. More
majority of people have no jobs or secure
enigmatic is that poverty in Africa is chronic
sources of income. Various reasons have
and rising. The share of the total population
been given for Africa’s lack of response of
living below the $1 a day threshold of 46 per
poverty to economic growth. First is the
cent is higher today than in the 1980s and
inadequacy of the growth rate. African
1990s-this despite significant improvements
countries need to grow by an estimated 7 per
in the growth of African GDP in recent
cent a year to reduce poverty enough to
years. The implication: poverty has been
achieve Millennium Development Goal 1, of
157
to
economic
growth.
halving the number of poor people by 2015.
(National Bureau of Statistics, 1999). By
This growth is far higher than the average of
1999 when the last administration came to
nearly 4 per cent in the last decade. Second
power, estimates had it that more than 70%
is the low labour absorption in the growth
of Nigerians lived in poverty. That was why
sectors. Growth has been concentrated in the
last government declared in November 1999
traditionally
extractive
that the N470 billion budget for year 2000
sector. Agriculture, which employs most
was “to relieve poverty.” Before the National
people
is
Assembly even passed the 2000 budget, the
characterized by low productivity growth,
government got an approval to commit N10
and thus has not provided enough real
billion to poverty alleviation programme. In
employment and income security to the
the
population, particularly in rural areas. Third
increased
is
of
alleviation programme by 150%. This idea of
opportunities created by economic growth.
poverty alleviation was received with high
Poor
in
capital-intensive
most
inequality
people
African
in
the
lack
countries,
distribution
the
capacity
2001
budget, the the
government
allocation
to
has
poverty
to
hopes especially given the speed with which
meaningfully participate in the economy,
this present administration tackled the fuel
either as producers of goods and services or
problem as soon as it came to power. Poverty
as suppliers of labour. There is a close
alleviation was seen as a means through
association
employment
which the government can revamp the
performance and poverty prevalence: poverty
battered economy and rebuild selfesteem in
rates have remained roughly constant in the
majority
same manner as the recorded unemployment
dehumanized through past military regimes.
rate since the 1980s. And the volatility of
(Ogwumike and Aromolaran, 2002)
between
of
Nigerians
who
had
been
growth has added to the vulnerability of poor people. Only a few countries in Africa have
2. Literature review
sustained growth over the years. Yet that is
There is no completely satisfactory way of
precisely
defining poverty. The Longman Dictionary of
what
is
required
to increase
employment and reduce poverty.
Contemporary English defines it as a state of being poor. Atkanson (1984) provides an
The reduction of poverty is the most difficult
official definition of poverty as used by the
challenge
the
U.S. as “absolute poverty standard”. The
developing world where on the average
definition was based on nutritionally sound
majority of the population is considered poor.
food
Evidences in Nigeria show that the number
Agriculture where the average cost of the
of those in poverty has continued to increase.
family food plan is multiplied by 3 and the
For example, the number of those in poverty
resultant total is defined as the poverty line.
increased from 27% in 1980 to 46% in 1985;
Hence any situation that falls below such
it declined slightly to 42% in 1992, and
line is described as absolute poverty. In
increased very sharply to 67% in 1996
another study, Todaro (1985) defines poverty
facing
any
country
in
158
designed
by
the
Department
of
as a situation where a population or section
subsequent to the reference period, or
of a population is able to meet only its bare
because
subsistence essentials of food, clothing and
indefinite lay-off without pay.
they
were
on
temporary
or
shelter in order to maintain minimum levels of living. While poverty can be measured in
Underemployment on the other hand, is
terms in terms of income, in developed
measured by the number of hours worked.
world, it has been argued that inadequate
Those who work for less than 40 hours a
access to basic infrastructure like water,
week for involuntary reasons in Nigeria are
health
considered underemployed, (Englama 2001).
and
education
facilities,
transportation and even information will be important in
defining
poverty
in
a
According to Smith (1997), unemployment is
developing country like Nigeria (Olanrewaju
a stock concept. This is because the number
1996), (Onibokun et al. 1996). The view of
and identities of people in the labour
poverty in the rural sector is not new as the
category are always changing and thus affect
nature of rural economy is (which is absolute
the level of those in the market.
subsistence) has over a long time been a cause of poverty in the rural population.
Unemployment has also been categorized as one of the serious impediments to social
There
is
no
of
progress. Apart from representing a colossal
unemployment. In Britain for instance, the
waste of a country 's manpower resources, it
Department
of
precise
definition
as
generates welfare loss in terms of lower
unemployed any school-leaver who is not in
output thereby leading to lower income and
paid employment but who is available for
well-being,
work and is capable of working, (Olajide,
Unemployment is a very serious issue in
S.O.1981). The Census Bureau of the United
Africa,
States of America accepts Lloyd G. Reynold’s
(Englama 2001). The need to avert the
definition
“the
negative effects of unemployment has made
difference between the amount of labour
the tackling of unemployment problems to
offered at present wage levels and working
feature very prominently in the development
conditions and the amount of labour hired at
objectives of many developing countries.
those level”. According to a United Nations
Incidentally,
definitions, the unemployed consist of all
economies are also characterized by low
persons who, during the reference period,
productivity. Thus, it seems obvious to many
were not working but who were seeking
policy makers that there must be a straight
work for pay or profit, including those who
forward connection between productivity and
never worked before. Unemployed persons
employment/unemployment.
also include those who were not seeking
researchers posit that higher productivity
work because of temporary illness, because
may
they made arrangements to start a new job
2001)
of
Employment
unemployment
accepts
as
159
and
increase
(Olajide,
S.O.1981).
particularly
most
of
in
these
Nigeria,
countries '
While
unemployment
some
(Englama
3.
The
poverty
-
unemployment
growth, basic needs and rural development
relationship
approaches.
Poor people have severely limited access to, and control over, key assets, including land
4.1 The Pre-SAP Era
and physical and human capital. Lacking
During this era, poverty reduction was never
production and labour market endowments,
the direct focus of development planning and
the
management.
poor
have
low
income
and
low
Government
only
showed
consumption. Most poor people are also
concern for poverty reduction indirectly. For
inadequately educated and may be less
example, the objectives of the first National
healthy than the rest of the population.
Development Plan in Nigeria included the
Many depend for their livelihoods on (low
development of opportunities in health,
productivity) subsistence agriculture or on
employment and education as well as
the informal sector, where returns to labour
improvement
and capital are generally low. Workers in the
opportunities. These objectives, if achieved
informal sector have low salaries, limited
could no doubt lead to poverty alleviation.
protection
of
Similarly, the Fourth National Development
unemployment. These factors, coupled with
Plan, which appeared to be more precise in
lack of access to the institutions that shape
the specification of objectives that are
policies, prevent poor people from acquiring
associated
the
The
emphasized increase in real income of the
number of people living below the poverty
average citizen as well as reduction of
line only tells half the story. In Africa, not
income
only do many people live below the poverty
things,Ogwumike, (1987 and 1998). During
line but they also stay poor for long and
this era national development plans, many
sustained periods. Many of these chronically
of the programmes which were put in place
poor people only emerge briefly from poverty
in Nigeria by the government (either wholly
because of seasonal employment, but lack
or in association with international agencies)
the impetus to contribute to technological
had positive effects on poverty reduction
change and economic growth. Unable to
although the target population for some of
directly participate in the growth process, for
the programmes were not specified explicitly
this
as poor people or communities. (Ogwumike,
and
capabilities
group,
frequent
for
albeit
decent
spells
living.
insufficient,
overall
economic growth is necessary to boost their
of
access
with
to
poverty
inequality,
these
reduction,
among
other
1995 and 1998).
incomes.
4.2. Directorate of Food, roads and
4.
Poverty-unemployment
reduction
Rural Infrastructure (DFRRI)
strategies in Nigeria
The establishment of DFRRI was not only a
In Nigeria, the poverty alleviation measures
radical
implemented so far have focused more on
programmes,
departure but from also the
previous
recognized
the
complementaries associated with basic needs
160
such as food, shelter, potable water, etc.
Programme, therefore, tried to harness the
DFRRI had tremendous impact on the rural
potentials of rural women and thereby
areas. For instance, between the time of
impacted
inception in 1986 and 1993, DFRRI had
activities and incomes. (Ogwumike, 2002)
positively
on
their
economic
completed over 278,526 km of roads. Over
5,000 rural communities benefited from its
4.5. People’s Bank of Nigeria (PBN)
rural
This was set up to encourage savings and
electrification
programme
.
This
integrated approach to rural development,
provide
no doubt, provided for the necessary basic
underprivileged in both urban and rural
infrastructures
that
can
stimulate
credit
facilities
for
the
the
areas, Also, Community Banks (CB) were
growth of agro - allied small - scale
established to provide banking facilities for
enterprises in rural areas. (Ogwumike,
rural dwellers as well as to support micro -
2002).
enterprises in urban areas, (Oladeji and
Abiola, 1998). These two banking schemes
4.3.
The
National
Directorate
of
were established in recognition of the
Employment (NDE)
indispensable role of finance in poverty
This was the main organ for employment
alleviation
creation during this period. The objectives of
Although the two banking schemes had some
NDE include: to design and implement
success, many of their goals and objectives
programmes to combat mass unemployment;
were never realized. The schemes have been
and articulate policies aimed at developing
bedevilled
work programmes with labour intensive
including
potentials. Given that poverty manifests
mismanagement. For instance, late Tai
itself in the form of unemployment and
Solarin resigned as Chairman of peoples
underemployment, the schemes/Programmes
Bank because of alleged corruption/executive
of NDE could be said to have poverty
rascality that characterized the management
alleviation focus. (Ogwumike, 2002)
of the bank.
4.4. Better Life Programme (BLP)
4.6. Family Support Programme (FSP)
This was set up to enhance the quality of life
This was set up to provide health care
of rural women, among other objectives.
delivery, child welfare, youth development,
Poverty in Nigeria is a rural phenomenon
and improved nutritional status to families
and the rural women are worst hit by the
in rural areas. Also, the Family Economic
dreadful malady of poverty; this is due to
Advancement Programme (FEAP) was
lack of basic skill and education necessary
established to provide credit facilities to
for gainful employment. The targeting of
cooperative
women in the fight against poverty will no
establishment of cottage industries in both
doubt reduce significantly aggregate level of
rural and urban areas. The programme was
poverty in the country. The Better Life
also
161
and
with
employment
many
adverse
corruption
societies
designed
to
creation.
factors
and
to
create
support
gross
the
employment
opportunities at ward levels, encourage the
also funded from contributions given to it by
design and manufacture of appropriate
state and local governments, the private
plants, machinery and equipments, and
sector and special deductions from the
provide opportunities for the training of
Consolidated
ward - based business operators. (Oladeji
Government. It also gets donations from
and Abiola, 1998).
international donor agencies such as the
World
Fund
Bank,
the
of
the
Federal
United
Nations
Other several programmes such as National
Development
Agricultural Land Development Authority
Union, and the Department for International
(NALDA), the Agricultural Development
Development, the Japanese International
Programmes
Cooperation
(ADP),
and
the
Strategic
Grains Reserves Programmes (SGRP) have
Programme,
Agency,
the
and
European
the
German
Technical Assistance.
one way or the other impacted positively on the agricultural sector and by implication
When NAPEP came on stream in January
reduced poverty. Similarly, in the health,
2001, it was given a take-off grant of N6
education and housing sectors there are
billion ($42.8m). This money was used to
several poverty reducing programmes which
establish NAPEP structures in 36 states, the
were
Federal Capital
implemented.
For
example,
the
Primary Health Care Scheme and the
Territory, Abuja and 774 local government
Guinea
councils. Part of the money was also used in
Worm
Although
the
Eradication guinea Programme.
worm
eradication
the
NAPEP
employment
generation
programme recorded a tremendous success,
intervention which translated to the training
the effectiveness of the primary health care
of
programme was grossly reduced due to
unemployed graduates in various places of
inadequate funding, lack of equipment,
work, training of over 5000 people in
essential drugs and trained manpower,
tailoring
(Egware, 1997).
establishment of rural telephone networks in
100,000
and
youths,
fashion
attaching
design,
50,000
and
the
125 local government areas. Other uses to
5. Funding of Nigeria Poverty
which the money was utilized include of the
Eradication Programme (NAPEP)
delivery of the KEKE-NAPEP a three-
The Poverty Eradication Fund (PEF) which
wheeler vehicle project involving 2000 units
is administered by the National Poverty
in all the state capitals of Nigeria, the
Eradication Council (NAPEC) directly funds
establishment of 147 youth information
the
Eradication
centres across the senatorial districts, the
Programme. However, all poverty alleviation
delivery of informal micro credit ranging
programmes originally
for by
from N10,000 ($71) to N50,000 to 10,000
participating ministries will continue to be
beneficiaries most of whom were women,
funded from those budgetary provisions
and so on. (Elumilade, Asaolu and Adereti
under the supervision of NAPEC. NAPEP is
2006)
National
Poverty
budgeted
162
5.1 NAPEP Interventions in Poverty
• A vehicle that has a low fuel consumption
Alleviation and Employment Drive
of 38km per litre. (Elumilade, Asaolu and
From January 2001, NAPEP has intervened
Adereti 2006)
in a number of projects. So far, about
140,000 youths have been trained in more
6. Research methodology
than 190 practical hand-on trades over a
The area of study includes the five (5)
period of three months. Every trainee in this
divisions
intervention project was paid N3,000 ($21)
Ikorodu, Ikeja, Island and Badagry. Lagos
per month while N3,500 ($215) was paid to
State has a total land area of 358,861
each of the trainer. The training programme
hectares or 3,577 square kilometers and is
was packaged with the understanding that
located in the Southwestern part of Nigeria
beneficiaries would subsequently set up
on the narrow coastal plain of the Bight of
their own businesses in line with the skills
Benin. The State lies approximately between
they have acquired. To actualize this, 5,000
Longitudes 20421 and 30221 East of the
beneficiaries were resettled with assorted
Greenwich Meridian (London) and between
tailoring and fashion designing equipment.
Latitudes 60221 and 60421 North of the
Also
equator.
under the
Mandatory
Attachment
of
Lagos
State
namely
Epe,
Programme for unemployment graduates,
40,000 beneficiaries were attached in 2001,
It is bounded in the North and East by Ogun
each of whom was paid a monthly stipend of
State of Nigeria, in the West by the Republic
N10,000 ($71). The installation of equipment
of Benin, and stretches over 180 kilometers
under
is
along the Guinea Coast of the Bight of Benin
the
on the Atlantic Ocean. The method of
KEKENAPEP project is currently being
analysis was based on Descriptive statistics
vigorously implemented. The project offers:
(such as frequency counts, percentages,
• A vehicle with a powerful diesel engine,
means and standard deviations) were used
and a fuel tank capacity of 10.5 litres
to summarize and describe the data.
the
currently
Rural in Telephone
progress,
Project while • A vehicle with a passenger capacity of four people 6.1. Sampling Technique and Sample
• A vehicle with a payload capacity of 320kg
Size
•
A purposive selection using multi-stage
A
vehicle
with
adequate
room
for
passenger luggage
sampling technique was adopted in selecting
• A vehicle whose maximum speed is up to
(10) Communities. The communities are
80 km per hour
Temu and Noforija ( Epe Division), Imota
• A vehicle that is suitable for intracity
and Oriwu (Ikorodu Division) Idale and
commuting
Irewe ( Badagry Division) Surulere/Anikanle
and
commercial
passenger
and
carriage; and
Ijedodo,
(Island).
163
Sangotedo
and
Idi-Araba
In
each
of
communities,
the two randomly producer selected
high value industrial and services sectors,
co-operative
taking
societies were identified and purposively
advantage
of
globalization
opportunities.
chosen. In all two hundred and fifty (250) respondents were investigated based on
However, it was observed that traditional
strength of the communities and population
measures of alleviating poverty may not
size. Through the use of structured and
easily work in
unstructured
schedules
researched without radical changes in the
administered at two different periods within
assets ownership structure, credit structure
a month, the validity of the instrument was
e.t.c.
interview
the
communities
being
established.
The major findings are presented under
The Independent variable, Entrepreneurship
basic socio-economic variables, supportive
was measured by the number of businesses
variables and promotional infrastructure.
ventures which a respondent had and the total number of employees who worked for
Basic Socio-economic variables
him. The dependent variables-poverty and
We observed that 78.2 percent of the
unemployment was measured by number of
respondents were male while 21.8 percent
meals per day, informal borrowing from
was female, 33 percent of the population had
frauds, sales of Assets, underemployment
tertiary education with and average fairly
e.t.c. A total mark of five (5) was awarded
size of 8 members. The average age of
based on the response from the respondent.
respondents was 44.63 years, 87.6 percent of respondents are married, 8.1 percent are
7. Data analysis
widower and 4.3 percent are divorce. The
Frequency counts, percentages, means and
average income of respondents was N12,800
standard deviations were used to describe
per month. Majority of (39%) respondents
and summarize the data collected. The
are engaged in farming, and poultry (34%)
standard deviation was used to determine
and small proportion are simultaneously
the degree of dispersion of the means.
Civil Servant, transporters and fashion designers (18%). The findings reveal that
7.1. Discussions and Findings
most respondents had affiliations with the
This research finding depicts that the level
State
of paid employment in the selected areas is
Ministry of Rural Development (68.1%) and
very minimal and that decent employment is
(23.8%) benefited from the National Poverty
the main escape route out of poverty. The
Eradication Programme (NAPEP). About
prerequisites
67.3
for
creating
decent
Ministry
percent
of
of
Agriculture
the
(62.8%),
respondents
are
employments include the transformation of
registered members of different Co-operative
local communities from low productivity
thrift and Credit Societies and bearly 18.1
traditional agriculture to labor-intensive
percent had benefited directly from their Co-
164
operative societies. The active Co-operators
However, maternity centres and traditional
secured credit facilities that could aid their
health
entrepreneurship
Garri-
facilities
Boat
observed
Processing,
activities
Fishing
in
Processing,
centres in were
the
that
the
major
communities. major health
It
constraints
was to making, palm oil Processing Coconut-Local
investment (%) drive are lack of credit
mat, weaving and Fashion designing.
facilities (72.3%), lack of stable power supply
Sex of respondents (%)
(27.6%). It was also noted that most
Marital status of respondents (%)
government projects in the communities are
Mean age of respondents (years)
tailored towards benefiting a particular
Mean income of respondents (monthly)
section of the communities who are perhaps
Occupation of respondents (%)
political power brokers in the communities.
Supportive Infrastructure
8. Summary / recommendations and
These are the variables that assist the
conclusion
functioning of Entrepreneurship. The study
Decent employment is the main escape
revealed
the
route. A major route out of poverty in
their
Nigeria is decent employment, a concept
that
respondents
57.3
percent
admitted
of
that
communities had both feeder roads that are
that
motorable.
these
employment- rooted in productive and secure
communities were mainly through wells
jobs that provide adequate income and
(53.8%) streams (27.6%) and by water
reasonable work conditions-and the quantity
corporation (18.4%). Although, electricity
of
supply by Power Holding Company Nigeria
strengthens the link between economic
Limited
growth and aggregate poverty reduction.
Water
was
supply
highly
(%)
unstable,
to
but
it
encompasses
employment.
the
Decent
quality
of
employment
accounted for about (62.3%) of power supply
Prerequisites
(%), 37.7 percent of the Entrepreneurs in
employment include the transformation of
these communities have alternative source
African economies from low productivity
of electricity as a back-up mechanism.
traditional agriculture to labour-intensive
for
creating
decent
high value agriculture and agro processing
Promotional Variables
and to the growing industrial and services
These are variables and factors which are
sectors, taking advantage of globalization’s
directly
the
opportunities. Political leadership is thus
development of entrepreneurship. Analysis
and
indirectly
influence
required in managing African economies to
revealed that 35.8% of respondents admitted
give priority to broad-based employment
that postal services were available in their
creation
communities. Most communities had no
programmes, including poverty reduction
banking facilities and police security posts.
and Employment creation strategies.
165
in
national
development
This paper focuses on four key challenges for
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Entrepreneurs are people in which organised other productive resources in which helps to make good and since the economics regard entrepreneur’s as a specialist form a labour input. Others believe that they deserve recognition as a separate factor of production in their own rights.…
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The role that entrepreneurship plays in the economy is that it creates jobs for advertisers and contractors, which is essential for the economy. Entrepreneurship also drives up the standard of living, which leads to a higher quality of life that people can live in. These parties benefit from working together, by means that once the entrepreneurs come into an area to create jobs it then gives business the option to raise prices which led to higher income for them due to the entrepreneurs who are will to pay a certain amount to be able to be where they have to be to succeed.…
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Entrepreneurs are a main force that propel private enterprise. Entrepreneurs possess the desire to start a business despite the risks involved, “An entrepreneur is someone who sees a potentially profitable opportunity and then devises a plan to achieve success in the marketplace and earn those profits” (Kurtz). The private enterprise system would not function correctly if not for the entrepreneurs that pressure previous companies to compete for customers. Entrepreneurship is also a vital part of the free enterprise system because it creates job opportunities, “Every year, they create more than one of every five new jobs in the economy.” (Kurtz) The new start up companies also create more jobs by allowing business owners to be self employed. New technology and innovations are often produced by these companies the most in areas that are new and have a low level of competition. Because of their limited resources, small businesses…
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Poverty is due to low income, lack of education and lack of sufficient employment. It is a very complicated issue and can be explained by individual circumstances and characteristics of poor people. Poverty causes education in poor community to be something that many people lack. The poverty and lack of education leads to high crime, low income, lack of healthcare and low income housing. Poor people should be properly educated in the advantages of population control, the circulation and budgeting of finances and the options available to become self-sufficient. The issue that many clients are having is something that should be addressed by providing specific programs that are carefully monitored and evaluated for the people. The poverty and lack of income and education is something that didn’t happen overnight and will require long term efforts for improvement.…
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With rare exceptions, the literature about entrepreneurship is positive and supportive and implies that uniform benefits accrue to the economy, to businesses, and to individuals as a result of entrepreneurship. This is only half the story. A small number of researchers have examined the dysfunctional aspects of entrepreneurship and pointed out that a Dark Side definitely exists (Kets de Vries, 1985; Solomon & Winslow, 1988; Winslow & Solomon, 1987; 1989).…
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*Prof. D.O Ajakaiye and Dr. V. A. Adeyeye are of the Nigerian Institute for Social and Economic Research (NISER), Ibadan.…
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Ma, H, Tan, J 2005 Key components and implications of entrepreneurship: A 4-P framework April 2005. Viewed 10 August. .jjbusvent.2005.04.009…
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Poverty is a complex human phenomenon associated with unacceptably low standard of living. It has multiple dimensions, manifestations and causes…
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Low, M., & MacMillan, I. (1988). Entrepreneurship: past research and future challenges. Journal of Management,14, 139–161.…
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To introduce the role and nature of entrepreneurship as a mechanism for creating new ventures and affecting economic development;…
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poverty? The objective of this paper is to find out the basic requirement to achieve…
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This essay will discuss the current situation of entrepreneurial enterprises in South Africa, in regards to its development and benefits to society. Additionally it will explore what factors might have influenced entrepreneurships resulting in the current situation and highlight their importance to society.…
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Teaching Entprepreneurship Education for the Promotion of Knowledge Economy: Concepts and Challenges
This paper deals with the strategies for enhancing entrepreneurial skills in Nigerian youths. It examines the characteristics of entrepreneurs and their need for entrepreneurial education. It also points out the role of tertiary institutions in developing entrepreneurs and also deepening entrepreneurial attributes in individuals. It presents that argument that the traditional system of education does not promote entrepreneurship skills but rather stifles them, and that for entrepreneurship to be promoted, there ought to be changes in both the process and content of learning. It suggest that tertiary institutions should gear the learning process towards…
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Poverty is one of the greatest challenge to the global development and one of the top issues in the developmental agenda of most countries of the world, especially the developing ones. Available records have shown that in 1990, about 1.25 billion people in the developing countries lived below the poverty line. In the Sub-Saharan Africa, those people that lived below US$1 per day constituted about 46.5% of the entire population in 1990 although it dropped to about 45.9% in 2000 and 41.1% in 2004 (UN, 2008).…
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