The Challenges of Entrepreneurship Development in Nigeria

EMMANUEL, ADESOLA OLUREMI, GATA, ELIZABETH G. & ODEBIYI, ITUNU IYABO

1, 2 &3 Department of Business Administration and Management

Federal Polytechnic, Bida, Niger State, Nigeria

Email: dessybjay@yahoo.com, samsonare@gmail.com, & gataelizabeth1972@gmail.com

ABSTRACT 

This paper examines the challenges of entrepreneurship development in Nigeria. This paper also sees entrepreneurship as the process of identifying, developing and bringing a vision to life. The vision may be an innovative idea, an opportunity, or simply a better way to do something. The end result of this process is the creation of a new venture, formed under conditions of risk and considerable uncertainty. In this era of shrinking economic activities, government should endeavour to provide the necessary resources required for entrepreneurship development. This is because without technological skills, entrepreneurial spirit which drives economic development through job creation will be lacking. The paper conclude that entrepreneurship is essential for rapid and sustained economic growth but there is urgent need to change the mindset of the average Nigerian especially the youths towards embracing self employment and de-emphasize the search for white collar jobs that are non-existent. Entrepreneurship as a means of self employment suffers a number of great challenges”, and these challenges are what this paper work identify. 

Keywords: Entrepreneurship Development, Economic Development, Self Employment.