The historical evolution of ideas about the entrepreneur is a wideranging subject and one that can be organized in different ways theorist by theorist, period by period, issue by issue and so forth. The impact of women entrepreneurship on economic growth in benue statenigeria kpelai, s. This paper discusses the evolution and current development of. Entrepreneurial development barriers in a developing nation 6 1 introduction 1. It is important to have a clear description of the term growth. The major purpose of the study is to highlight the origin of entrepreneurship and education development in nigeria. School of distance education entrepreneurship development 7 opportunities and creating values. It is a process of evolving ones skills in a systematic manner. The impact of entrepreneurship growth in the development. The main role is to help in growth and development of the economy and creating employment for most people among others. Since time in memorial women are contributing a great deal to the development of any nation across the world.
This study assessed the impact of entrepreneurship on economic development in nigeria. The role of entrepreneurship in transforming the nigerian economy. 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. There are varied roles of entrepreneurship in nigeria economic. To nurture entrepreneurial development, small and medium scale enterprise operators or entrepreneurs are being considered as main sustenance of the economy. Entrepreneurship development is understood as the promotion and development of activities and processes that foster and support productive entrepreneurship in the society. If john wanted 5 bars of iron, then he might have to sell 1 horse to get those bars. Early entrepreneurship stared with trade by barter even before the advent of any form of money. Pdf this paper underscores the importance of policy formulation in. These conditions may have both positive and negative influences on the emergence of entrepreneurship. Entrepreneurship evolution and the growth of small scale.
The evolution of entrepreneurship consider the recent surge of startup companies taking the world by force. Even though nigeria has evolved and used different policies and. Entrepreneurship and economic development in nigeria. One of the key developments in the history of entrepreneurship and in human history was the invention of money. The historical background of entrepreneurial development in nigeria. This is owing to the fact that the profits made by entrepreneurs flows as an increase into the national income and thereby increases the nations gross domestic product gdp. 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. Entrepreneurship development in nigeria science arena. 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 evolution of entrepreneurship theory working paper 01. Today we go memory lane to how entrepreneurship started and how it has evolved. We are sure youve always wanted to know about the entrepreneurship development in nigeria.
The impact of women entrepreneurship on economic growth in. In this way, modern entrepreneurship was conceived. The historical background of entrepreneurial development. Entrepreneurship development has been gradually corresponding with the development of the human race and it has reinforced the emergence. Introduction nigeria, the most populous country in africa, is naturally endowed with millions and millions of acres of arable land, 38. Nigeria and in other developing economies, as policies and programmes are implemented across. This chapter discusses urban entrepreneurship in subsaharan africa ssa, in general, and zambia in particular.
The topic of entrepreneurship cannot be overdiscussed as it is the foundation on which a country is built on. The role of entrepreneurship in transforming the nigerian. It goes without saying that indian women entrepreneurs have significantly contributed to the industrial development of india. This article starts with some very broad reflections about economic change over. What are the impacts of entrepreneurship on economic development in nigeria. Problems and prospects of entrepreneurship in nigeria. The reason for this is the huge number of the challenges that entrepreneurship development in nigeria is facing today. This is why alam and hossan 2003 see entrepreneurship as playing a key role in the process of economic development through.
However, despite the increased call for entrepreneurship, it still requires much improvement. The paper examines 19081947 british administration education antecedents in nigeria, blaise memorial, industrial school in abeokuta, formal vocational education in various departmental training schools. This paper underscores the importance of policy formulation in entrepreneurship development in nigeria as well as the importance of entrepreneurship in reducing the evergrowing rate of. According to some authors, growth seems to be a typical characteristic of entrepreneurial ventures. The role of entrepreneurship in transforming the nigerian economy 1.
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. Several studies have examined entrepreneurship using smes from different jurisdictions using different techniques. Entrepreneurship began when people produced by themselves more products than they needed. What are the challenges of business startups smes in. Longetivity is measured by life expectancy at birth eo, knowledge is measured in terms of literacy lit. D, department of business administration, micahel okpara university of agriculture, umudike, abia state, nigeria.
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. Apr 30, 2018 roles of entrepreneurship development in nigeria. The methodology adopted was the narrativetextual case study ntcs method, which is preferred because of the absence of sequential data related to. Given the generally held view that entrepreneurship development is the key to poverty eradication, employment generation and rapid economic development, various governments in nigeria have, over the past three decades, evolved policies and programmes, aimed at developing entrepreneurship through the development of small and. It is a known fact that so many management institutes. Entrepreneurship, employment and sustainable development. For many decades, formal education has been the preserve of the privilege. The evolution of urban entrepreneurship in zambia springerlink. History of entrepreneurship from 17,000 bc to present time. Entrepreneurship development in nigeria information. Entrepreneurship is an essential variable in the growth and development of any economy. Challenges facing women entrepreneurs in nigeria emerald.
Assessment of the contribution of women entrepreneur towards. He or she has the idea, concept of new production to render to people in the country. It seems that in our modern, hyperconnected, exponential innovation culture, everyone is trying to do some sort of startup. The workshop should provide inputs to how entrepreneurship in africa can be. Modern entrepreneurship in nigeria started with the coming of the colonial masters, who brought in their wears and made nigerians their middle men. The conversion of community banks to micro finance bank is a great achievement on the federal government because credit facilities are given to the poor people and entrepreneurs who need it in their businesses.
Evolution of female entrepreneurship women entrepreneur. Contemporary challenges of entrepreneurship development in nigeria. As nigeria yearns for economic growth, emphasis must be laid on entrepreneurship. The history of entrepreneurship development in nigeria. 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 working paper is a report from the workshop on entrepreneurship development arranged by centre for business the and development studies at cbs and the danish ministry of foreign affairs in september 2010. This article starts with some very broad reflections about economic change over thousands of years and the connections. Family economic advancement program feap, peoples bank of nigeria, national economic empowerment and.
Theory, evidence and policy this paper provides an overview of the state of the art of the intersection of development economics and entrepreneurship. History of entrepreneurship in nigeria and government. Does the application of entrepreneurship serve as a potential remedy to present nigeria economic recession. Evolution of entrepreneurship theories through different schools of thought. 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. Eventually, after independence, nigerians became aware of the menace the colonial educational system has caused on entrepreneurship and economic growth. Historical evolution of entrepreneurial development in the global.
One should look at the development of entrepreneurship from the classical viewpoint. In areas where these factors are present, you can expect to see strong and consistent entrepreneurial growth. The methodology adopted for this paper is the narrativetextual case study. The study aims to support and encourage sustainable small. Pdf evolution of entrepreneurship theories through. Therefore, same goes for the process of entrepreneurship development. The point at which man stopped satisfying only his needs and accommodated the needs of others marked the real evolution of entrepreneurship. Relationship exists between socioeconomic, political and environmental factors and the development of entrepreneurship in nigeria. Analyses also show that entrepreneurship development in nigeria is mainly hinged. The study seeks to assess the prospects and problems of entrepreneurship development in nigeria, ascertain the challenges of entrepreneurship development in nigeria.
They found that entrepreneurship can enhance economic growth and development primarily by generating employment and foster the growth of micro, small and medium enterprises msmes in. Finally section 5 indicates the conclusion and recommendation of the study. Prior to the invention of money, all entrepreneurship and trade took place through the barter system. The historical background of entrepreneurial development in. Entrepreneurship is the comparison of the forecasted future.
Entrepreneurship development has been gradually corresponding with. Evolution of entrepreneurship theories through different schools of. Some entrepreneurial programs already embarked upon by the federal government of nigeria include. The role of entrepreneurship development in nigeria or nigerian economy the success of any entrepreneur or any business depends on the value either the value the producers played on their products or the values the customers see in the products. The history of entrepreneurship development in nigeria answers. This presentation explains the evolution of entrepreneurship development in india. In a very general sense, development refers to enhancing an existing potential or asset through the process of learning and application. History of entrepreneurship in nigerian and government influence. This working paper begins by providing a brief introduction to the origins and evolution of historical research on entrepreneurship.
Adeoye 2015 and adebayo and kolawole 20 discussed the the evolution and current development of principles and practice of entrepreneurship in nigeria. Evolution of entrepreneurship development in india. 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. There were eleven privately owned sawmills factories located in. The common contemporary view is that entrepreneurship is synonymous with venture creation or fast growing companies. 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. The study was carried out at ilorin, capital city of kwara state, nigeria. However, many of the lessons learned from experiences in both types of development are similar. Entrepreneurship is influenced by four distinct factors. Entrepreneurship theory and creativity owth objectives for companies.
Does entrepreneurship play any significant role in economic development during a recession. In short, entrepreneurship is the process of creating a business enterprise. Evolution of entrepreneurship development in india authorstream. This history has had a bearing on entrepreneurship development in the country. Jun 11, 2014 there are varied roles of entrepreneurship in nigeria economic. Below is a history of this fastgrowing sector of the nigerian economy. This paper discusses the evolution and current development of principles and practice of entrepreneurship in nigeria. The history of entrepreneurship in nigeria by jeff442. 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. The following research questions will be answered in order to identify and examine entrepreneurship development programme in nigeria and proffer solutions to them. The development of entrepreneurship theory in nigeria according to akeredolu ale 1975. It also examines the effect of entrepreneurship in fostering economic growth and development.
D, department of business administration, micahel okpara university of agriculture. Assessment of the contribution of women entrepreneur. The second dimension of the entrepreneurship paradigm is venture performance. Nature and characteristics of entrepreneurship features of entrepreneurship are summarized as follows. Nigeria has a large business sector with many setting up their personal businesses so as to obtain profits. Entrepreneurship, employment and sustainable development in. Assessing the prospects and problems of entrepreneurship.
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