Impact of entrepreneurship on economic growth in nigeria pdf

The impact of entrepreneurship growth in the development of nigerian economy money udih 1 and edjore emmanuel odibo 1. Nigerian entrepreneurship ecosystem mapping report final. The impact of entrepreneurship on economic development in. A study on the effect of entrepreneurship on economic growth. Eventually, after independence, nigerians became aware of the menace the colonial educational system has caused on entrepreneurship and economic growth. Entrepreneurship, small businesses, and economic growth in cities may 15, 2016 abstract does entrepreneurship cause local employment and wage growth, and if so, how large is the impact. In areas where these factors are present, you can expect to see strong and consistent entrepreneurial growth. Abstract this study examines the relationship between entrepreneurship development and sustaining economic growth in nigeria. Furthermore, many stress the role of the entrepreneur in implementing innovations. Introduction nigeria, the most populous country in africa, is naturally endowed with millions and millions of acres of arable land, 38.

Assessment of the contribution of women entrepreneur. 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. Entrepreneurs and their impact on jobs and economic growth. Knowing the importance of entrepreneurship for sustained economic growth and improved wellbeing, the federal government of nigeria continues to implement policies and programmes to support entrepreneurs in order to foster economic growth, increase job creation and prosperity, reduce poverty, inequality and promote inclusive growth. Theory, evidence and policy this paper provides an overview of the state of the art of the intersection of development economics and entrepreneurship. Relationship exists between socioeconomic, political and environmental factors and the development of entrepreneurship in nigeria. Entrepreneurship, innovation and economic growth past experiences, current knowledge and policy implications 1 february. The concept of economic growth is relevant at levels of firms, regions, industries and nations, hence, linking entrepreneurship to economic growth means linking the individual level to aggregate levels. Entrepreneurship key to nigerias economic growth experts economic experts have said entrepreneurship is very essential for economic growth and. The importance, how to, effect causes relationship, comparison, history. All these products constitute a source of raw materials that can be ultimately processed into finished products, thus creating value addition. The results show that the normalised longrun cointegrating equation supported by the shortrun dynamics indicates that finance, interest rate, real gross domestic product, unemployment and industrial productivity are significant to entrepreneurship.

History of entrepreneurship in nigeria and government. What is the impact of entrepreneurship in nigerias. Impact of entrepreneurship on the economy of a country. Evidence from enterprise development in nigeria farayibi, adesoji oladapo1 abstract this study provides an econometric analysis of the role of entrepreneurship in economic growth in nigeria. Entrepreneurship is at the heart of national advantage porter, 1990, 125. Entrepreneurship is influenced by four distinct factors. Entrepreneurship is important as it has the ability to improve standards of living and create wealth, not only for the entrepreneurs, but also for. The study examined the impact of government expenditure on economic growth in nigeria, using the time frame 20002015 5 years.

This case study is to examine the effect of the impact of entrepreneurship on economic development in nigeria. Revitalisation of entrepreneurship in nigeria after independence. The study also assesses the areas where the country has developed enterprise and innovations. Pdf effect of government entrepreneurial policies on. The study also found that microfinance banks financing in the area of transportation and commerce, manufacturing and food processing and other activities have significantly impacted on economic growth and development of nigeria during the period. This paper evaluates the impact of finance on entrepreneurship growth in nigeria using endogenous growth framework. Entrepreneurship is the microcosm of every economy and nigeria is no exception. Specifically, the study examined the effect of entrepreneurship policies on the productivity of small business.

The impact of entrepreneurship on economic growth, development. The main aim of the paper was to investigate the role of entrepreneurship on economic performance but with focus on sectorwide growth in 12 selected african countries during the period 20062016. The impact of entrepreneurship growth in the development of nigerian economy. Get free research paper on the impact and role of entrepreneurship on the economic growth of nigeria our project topics and materials are suitable for students in nigeria with case studies in pdf, doc. The hypothesis that entrepreneurship is linked to economic growth finds its most immediate foundation in simple intuition, common sense and pure economic observation. These conditions may have both positive and negative influences on the emergence of entrepreneurship. Evaluation of the impact of entrepreneurship on nigerian. Impact of entrepreneurship on the economy of a country by francis nwokike entrepreneurship plays a vital role in the development of a countrys economy as this is the key contributor to innovativeness, product improvement, reduction of unemployment and poverty. Impact of entrepreneurship development programme on. But while some truly innovative entrepreneurs create fastgrowing businesses socalled gazelles that have an important impact on economic growth, whether replicative entrepreneurs see different types of entrepreneurs have a measurable effect on economic growth seems less likely.

This study accessed the effect of government entrepreneurial policies on nigerias economic growth with ondo state as a case study. The paper examines the globalization phenomenon and its impact on entrepreneurship development in developing economies. As nigeria yearns for economic growth, emphasis must be laid on entrepreneurship. The role of entrepreneurship development in nigeria economy abstract generally this study seeks to explore the role of entrepreneurship development in nigeria economy, with a case study of the hungry man restaurant. And this was a turning point in the history of entrepreneurship in nigeria. Thirdly the number of market participants in any country will finally have an important impact on economic development and this is recognized as another strand of evidence of the role of entrepreneurship in economy expansion chell and ozkan, 2010. The role of entrepreneurship in transforming the nigerian economy 1. The question of whether countries that have shifted toward a greater role for entrepreneurship enjoy stronger growth is of great importance to policymakers audretsch et al. It appreciates the various perspectives of globalization concept, however, it narrows the discussion to economic globalization and globalization of business in particular. Entrepreneurship graduates who were employed with other. Furthermore, many stress the furthermore, many stress the 2 see carree and klomp 1996 and davis, haltiw anger and schuh 1996.

The impact of entrepreneurship on economic development in nigeria. Many economists and politicians now have an intuition that there is a positive impact of entrepreneurship on the growth of gdp and employment. Thurika,b acentre for advanced small business economics casbec at erasmus university rotterdam beim business and policy research, zoetermeer cfaculty of economics and business administration, university of maastricht chapter prepared for the international handbook of. Entrepreneurs and their impact on jobs and economic growth entrepreneurship encourages structural change existing firms often struggle to adjust to new market conditions and permanent changes, getting locked into their old positions. Empirical analysis of such question is difficult because of the joint determination of entrepreneurship and economic growth. Given the relative neglect of entrepreneurship by development scholars it deals with i recent theoretical insights from the intersection of. Pdf the impact of entrepreneurship on economic growth. 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 economic growth. The impact of finance on nigerias rural entrepreneurial. Our study looks at the dynamic relationship between entrepreneurship, unemployment, and growth across 10 sectors of the u. The impact of entrepreneurship growth in the development. As nigeria pursues various economic development plans including the national economic empowerment and. The methodology adopted was the narrativetextual case study ntcs method, which is preferred because of the absence of sequential data related to entrepreneurship and sustainable economic growth in nigeria. Economic growth is the most powerful instrument for reducing poverty and improving the quality of life in developing countries.

Doc the impact of entrepreneurship on economic growth. The project focuses on how entrepreneurship will contribute to economic development and how economy would be improved through entrepreneurship. Omoruyi emm1, olamide ks 2, gomolemo g 3 and donath oa4 1institute of african studies, zhejiang normal university, china 2marketing, college of economics and management, zhejiang normal university, china 3international trade, college of economics and. It has from all angles empowered the economic growth of nigeria. Chapter 20 the impact of entrepreneurship on economic.

Chapter 20 the impact of entrepreneurship on economic growth. Entrepreneurship and economic development in nigeria. Does entrepreneurship bolster economic expansion in africa. Impact of youth entrepreneurship in nation building. 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 nigerian economy has immensely benefited from the entrepreneurial ingenuity of her citizens. D, department of business administration, micahel okpara university of agriculture, umudike, abia state, nigeria. Entrepreneurship development and sustaining economic growth in nigeria sajuyigbe, a. Entrepreneurship, small businesses, and economic growth in.

Theoretical and empirical evidence have shown a robust link between economic growth and the depth of financial intermediary schumpeter, 1934. Entrepreneurship has to do with activities of individual persons. Entrepreneurship development and sustaining economic. The following research questions will be answered in order to identify and examine entrepreneurship development programme in nigeria and proffer solutions to them. It has brought a revolutionary change in the pakistan up to some level, in term of creating job opportunities, new innovation in the market, alleviation of poverty and enhancing the social investment or trade. The aim of the paper is to develop and analyse the contributions of entrepreneurship in the economic development through sme development in nigeria.