WORLD ACADEMY OF INFORMATICS AND MANAGEMENT SCIENCES
ISSN : 2278-1315
and even discover new things in and around them. It is
ENTREPRENEUR DEVELOPMENT, EMERGING
necessary and compulsory for entrepreneurs to create the habit
MARKET IN NIGERIA AND AFRICA.
of communicating. Basically, communication is an act that
ORKEGHEN PROMISE TERLUMUN
has to be imbibed by entrepreneurs because the beginning of
terlumunorkaghen@gmail.com
any entrepreneurship solving must be problem discovering
and discover any problem there must be a communication.
ABSTRACT
This paper aims to provide an over view of the different key
factors that influence entrepreneurship environment in
Africa and the world.
INTRODUCTION
The role of entrepreneurship development has great impact
on countries’ economies; entrepreneurial development is the
science of business created by an individual or group of
individuals who take risks with the aim of making profits or
gains. Entrepreneurial development can therefore be best
described as developing business risk decisions.
ROLE OF ENTREPRENEURSHIP DEVELOPMENT IN
NIGERIAN ECONOMY
Entrepreneurship has a great impact to the development of
an economy. All developed countries were impacted by
entrepreneurship to attain their status. The level of a
Nation’s economy development is measured by business
activity development which is determined primarily by
entrepreneurship development. Innovation and creativity
only become useful when driven with the vehicle of
entrepreneurship for it to serve a business purpose and
indeed satisfy economic development need of a nation.
From this narrative we may assert that the Nigerian
economy is at this level primarily due to low level of
entrepreneurship development. Though there may appear a
large resource of service production in Nigeria, these have
largely remained dormant due to a scale in entrepreneurship
development, this study will make further impact defining
who an entrepreneur is, the role of entrepreneurship
development and the Concept of an Economy.
ENTREPRENEURSHIP AND ENTREPRENEUR?
A person who runs a business, a firm is called an
entrepreneur, person who manages the business, who create
a new thing, relevant things in the society and the society
and the country at large for profits or gains.
ROLES OF ENTREPRENEURSHIP DEVELOPMENT IN
NIGERIA
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. He or she
has the ambitions, a person who has the ability to control
and manage whatever things he posses and there must exist
a passion burning concerning the particular business. Hence,
without the impactful knowledge of entrepreneur
entrepreneurship might not thrive well especially in this part
of the country, it will only end up as a road side business
and was put in the entrepreneurship is 99% communication,
it is one of the ways people interact, communicate interfere
www.waims.co.in
ECONOMY:
The success of any entrepreneur or any business depends on
the value either the products or the values the customers see in
the products. First and foremost, an entrepreneur must value
his or her products before anyone else can value them. So,
therefore, the value position of any business boost the
business and learned the business great achievement and of
course for entrepreneurs to value the product they must have
had more knowledge and understanding about the business
likewise the customers. In addition, entrepreneurs are risk
takers; they are bold men and women that take the good steps
to success in achieving their goals. Yes, entrepreneurs
overcome challenges faced in the process of starting a
business or the process of making money.
NIGERIAN ECONOMY:
As we all know that the economic situation Nigeria needs is
still in a work especially in the aspect of getting while collar
jobs, this has therefore led people to entrepreneurship both
young and adults and even the government workers start their
job and thereby contribute to their income which invariably
improves their social economic status which has great roles to
play in the country. Entrepreneurship has really increased the
development of Nigerian economy in that it makes many
independent, boss of their own and even makes them more
creative. Some of the roles played by entrepreneurship
development in Nigeria are listed below:
ENTREPRENEURSHIP CREATE JOB OPPORTUNITIES
Entrepreneurship as it has been defined earlier create jobs and
makes work available for job seekers, and entrepreneur are
job creators work to create work themselves and even employ
people in need of work and there is no more need for seeking
and searching for job here and there, entrepreneurship,
therefore, makes entrepreneur employers and therefore
reduces the rate of unemployment by Nigeria. As they will be
the master of the business and people or better or still
employee learn, gain from them and also become employers
as well.
ENTREPRENEUR CREATES WEALTH
Wealth is power associated with a great deal of money.
Entrepreneurship, therefore, provides people and even makes
Nigerian wealthy. The money or wealth is created in
the form of goods and services, and as they are produced,
they are at the same time rendered to customers. The products
produced are expanded and distributed to the
number
of buyers or customers increase and they are definitely
exchanged for money. As an entrepreneur he or she
decided on
the profit they will be making even with
affordable price and this makes the business grow, expand
and brings more wealth to the
employer.
ENDEAVOR 2019 | WAIMS ACADMIC PRESS
52 | P a g e