The major purpose of the study is to highlight the origin of entrepreneurship and education development in nigeria. The following research questions will be answered in order to identify and examine entrepreneurship development programme in nigeria and proffer solutions to them. Apr 14, 2020 evolution of female entrepreneurship female entrepreneurs today are so successful that it is easy to assume that highprofile businesswomen in a variety of fields have always been a feature of this economy. Challenges of entrepreneurship education in nigeria. The role of entrepreneurship in transforming the nigerian. Today we go memory lane to how entrepreneurship started and how it has evolved. The major purpose of the study is to highlight the origin of entrepreneurship and education development in. The paper examined the challenges of entrepreneurship education in nigeria. However, many of the lessons learned from experiences in both types of development are similar. The historical background of entrepreneurial development in.
The impact of women entrepreneurship on economic growth in benue statenigeria kpelai, s. Evolution of entrepreneurship theories through different schools of. There are varied roles of entrepreneurship in nigeria economic. More than 40 years ago, baumol remarked that the attempt to understand the entrepreneurship without the entrepreneur is like the attempt to understand shakespeare without hamlet. Mar 30, 20 early entrepreneurship stared with trade by barter even before the advent of any form of money. The history of entrepreneurship in nigeria omanjaf. D department of business managementbenue state university, makurdi abstract. The situation is even worse today that the country is in economic recession. Entrepreneurship has develop the general evolution of entrepreneurship guide students to trace the evolution of entrepreneurship explain how entrepreneurship has developed in the world including ghana. Evolution of entrepreneurship in nigeria in the beginning, entrepreneurship started when people produced more products than they needed, as such, they had to exchange these surpluses. The study seeks to assess the prospects and problems of entrepreneurship development in nigeria, ascertain the challenges of entrepreneurship development in nigeria. The evolution of entrepreneurship theory page 2 of 33 as readers progress through this chapter it is worth noting the different ways in which entrepreneurship is defined. Could it be that the approach and strategies used are flawed.
The role of entrepreneurship in transforming the nigerian economy. Entrepreneurship development in nigeria science arena. There has been clamor for entrepreneurship in recent times and this will help to throw light on the history of entrepreneurship globally, its evolution, history of entrepreneurship in nigeria, and the role of government in improving the entrepreneurial landscape in nigeria. The study aims to support and encourage sustainable small. The impact of women entrepreneurship on economic growth. The role of entrepreneurship development is played by an entrepreneur, someone who has reasons to set up a business, who has goals and work hard to achieve the goals. But in terms of entrepreneurial development, it can be argued that the oil industry has minimally contributed. Why have all efforts to develop entrepreneurship in nigeria failed to yield the desired results. Challenges facing women entrepreneurs in nigeria emerald. This study seeks to examine the business and social profiles of 67 women entrepreneurs in three regions of nigeria in order to identify patterns of entrepreneurship and social and economic challenges facing women business owners in nigeria. Entrepreneurship started when people produced more products than they needed, as such, they had to exchange these surpluses. Since this value creation activity is performed continuously in the midst of uncertain business environment, therefore, entrepreneurship is regarded. Fatoki 2010 points out that given the failure of the formal and public sector to absorb the growing number of job seekers in south africa, increasing attention has focused on entrepreneurship and new. Entrepreneurship, innovation and economic growth past experiences, current knowledge and policy implications 1 february.
Entrepreneurship began when people produced by themselves more products than they needed. From the results presented, it is evident that female entrepreneurship in nigeria is driven by micro. The history of entrepreneurship in nigeria by jeff442. Pdf evolution of entrepreneurship theories through. The history of entrepreneurship development in nigeria answers. Most of the modern entrepreneurs were engaged in retail trade or sole proprietorship. For instance, if a blacksmith produced more hoes than he needed, he exchanges the surplus he had with what he had not but needed. Entrepreneurship is the process of designing, launching and running a new business, which is often initially a small business.
History of entrepreneurship in nigerian and government influence. Entrepreneurship development is understood as the promotion and development of activities and processes that foster and support productive entrepreneurship in the society. The role of entrepreneurship development in nigeria economy, a case study of the hungry man restaurant wuse ii abuja. Nigeria is progressively trying to incorporate modern technology into its country. Several studies have examined entrepreneurship using smes from different jurisdictions using different techniques. O department of business administration email address. History of entrepreneurship from 17,000 bc to present time. The evolution of urban entrepreneurship in zambia springerlink. Entrepreneurship is an economic activity because it involves the creation and operation of an enterprise with a view to creating value or wealth by ensuring optimum utilisation of scarce resources. 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. Although there are a lot of barriers, entrepreneurship in nigeria is necessary for the country to become a developed nation. The paper examines 19081947 british administration education antecedents in nigeria, blaise memorial, industrial school in abeokuta, formal vocational education in various departmental training schools.
Nigeria amongst the countries of the world that recorded the least achievement in the upgrade of the welfare of their citizens undp, 2002. Entrepreneurship is basically the practice of starting a business in order. This paper discusses the evolution and current development of principles and practice of entrepreneurship in nigeria. After independence, the nigerian economy seemed very promising. The challenges become a stumbling block in their desire to be among the top economies in the world.
For the effective explanation of the history of entrepreneurship in nigeria, it is therefore unavoidable that the term itself is defined and explained in the simplest ways possible. Nigeria has a large business sector with many setting up their personal businesses so as to obtain profits. The development of entrepreneurship theory in nigeria according to akeredolu ale 1975. Pdf the impact of technological innovation on smes.
Evolution of female entrepreneurship women entrepreneur. In nigeria, studies have been carried out on the effect of entrepreneurship development on the problem of high unemployment rate, high level of poverty and slow economic growth rate adejumo, 2001. Relationship exists between socioeconomic, political and environmental factors and the development of entrepreneurship in nigeria. In the light of the above, this paper attempts to establish the impact of entrepreneurship evolution on the growth of small scale businesses in nigeria by discussing the concept of entrepreneurship and its evolution in nigeria, the concept of small scale business and efforts aimed at enhancing the growth of small scale businesses in nigeria. Evolution of entrepreneurship theories through different schools of thought. Many saw nigeria, with 15% of africas population, as an emerging economy. Entrepreneurship evolution and the growth of small scale. Entrepreneurship education from precolonial to postindependent. Assessing the prospects and problems of entrepreneurship.
Evolution of female entrepreneurship female entrepreneurs today are so successful that it is easy to assume that highprofile businesswomen in a variety of fields have always been a feature of this economy. The personnel involved in this research work were drawn randomly from the upper, middle and lower management level of the organization. It gained independence in 1964 and now ranks as one of the middle lower income countries even though it has dropped from a higher ranking at independence. The entrepreneurship is one of the fields with the most rapid evolution in economy, management, finance and even in legislation baron and henry, 2010. Doc the impact of entrepreneurship on economic growth. The effect of the behaviour of profits on the activities of the innovating entrepren much of the academic debate on entrepreneurship over the last quarter of a century or more has concerned itself with entrepreneurial, behavioural and personal traits. The main role is to help in growth and development of the economy and creating employment for most people among others. Pdf in the early days entrepreneurship as a phenomenon which was of interest only for economists.
The reason for this is the huge number of the challenges that entrepreneurship development in nigeria is facing today. This research work covers the period of 20152016, and does not go beyond the topic. Below is a history of this fastgrowing sector of the nigerian economy. In this way, modern entrepreneurship was conceived. Britain eventually gained control of nigerian administration. The common contemporary view is that entrepreneurship is synonymous with venture creation or fast growing companies. The need for entrepreneurship development in nigeria has never been so high in the history of the 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. History of entrepreneurship in nigeria and government. There is no doubt that new or improved product or process of production continues to create firms competitive advantage over others in the market. Findings with no or few significant differences shown to exist between male and female business owners or managers once they have already started an enterprise, there is a strong indication that africa has sizeable hidden growth potential in its women. Entrepreneurship is a dynamic activity which helps the entrepreneur to bring changes in the process of production, innovation in production, new usage of. One of the key developments in the history of entrepreneurship and in human history was the invention of money. Modern entrepreneurship in nigeria started with the coming of the colonial masters, who brought in their wears and made nigerians their middle men. Entrepreneurs have a past to learn from, and that is why the history of entrepreneurship is an important story you need to read. Beyond the conventional roles of universities which include motivating economic growth and development through research and development, building entrepreneurial capabilities. The impact of women entrepreneurship on economic growth in benue state nigeria kpelai, s.
This study, therefore, attempted to assess the relationship between entrepreneurship education and employment in nigeria. Jun 11, 2014 there are varied roles of entrepreneurship in nigeria economic. Analyses also show that entrepreneurship development in nigeria is mainly hinged on necessity and. The impact of women entrepreneurship on economic growth in. A series of unfortunate political and economic events have stalled.
In nigeria, studies have been carried out on the effect of entrepreneurship development on the. Entrepreneurship education and employment in nigeria. The evolution of entrepreneurship theory working paper 01. One of the major factors that have in many ways discouraged this flow of entrepreneurship development in nigeria is the value system brought about by formal education. However, despite the increased call for entrepreneurship, it still requires much improvement. Entrepreneurship development in nigeria information. Social entrepreneurship has evolved as an important instrument for. 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 strong willedpower to take risk. Colonialism is a major feature of the economic history of nigeria. The people who create these businesses are called entrepreneurs entrepreneurship has been described as the capacity and willingness to develop, organize and manage a business venture along with any of its risks to make a profit. Finally section 5 indicates the conclusion and recommendation of the study. 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. This history has had a bearing on entrepreneurship development in the country.
Ozkan, 2010, an entrepreneur is someone who is willing to bear the risk of a business venture where there is a significant chance for making profit. This chapter discusses urban entrepreneurship in subsaharan africa ssa, in general, and zambia in particular. Prior to the invention of money, all entrepreneurship and trade took place through the barter system. Evidence from small and medium scale enterprises smes financing abdulkemi, idris zubair director zonal offices coordination department securities and exchange commission abuja abstract. He or she has the idea, concept of new production to render to people in the country. This working paper begins by providing a brief introduction to the origins and evolution of historical research on entrepreneurship. The role of entrepreneurship in transforming the nigerian economy 1. A conceptual overview of social entrepreneurship and its relevance to the nigerias third sector akuraun shadrach iyortsuun federal university, wukari p. This study examines the impact of women entrepreneurs on economic growth in benue state, northcentral nigeria.
Apr 30, 2018 roles of entrepreneurship development in nigeria. Pdf this paper underscores the importance of policy formulation in entrepreneurship development in nigeria as well as the importance of. We are sure youve always wanted to know about the entrepreneurship development in nigeria. The history of entrepreneurship development in nigeria. International journal of business and commerce vol. The historical background of entrepreneurial development. The impact of entreprenurship on economic development in nigeria a case study salami akeem olanrewaju akinbode, s.
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