Entrepreneurship Development and the Nigerian Business Ecology
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LAPO Academy for Microfinance and Enterprise Development, Edo State, Nigeria: Benin.
Abstract
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Entrepreneurship development has been seen as the silver bullet that could lay to rest
the raging monsters of underdevelopment, unemployment, poverty and poor standard of living in
poor communities all over the world. Copious literature materials exist that contend that
entrepreneurs succeed because they possess certain traits such as vision, need for achievement,
high internal locus of control, high risk propensity and the passion to strike out on their own.
While these factors are indeed characteristics of many entrepreneurial success stories, this study
has shown that there is an inexorable nexus between entrepreneurship development and the
business ecology. A situation where spotty power supply exists in the midst of formidable
challenges such as bad road networks, lack of water, poor access to finance and infrastructural
convolutions, entrepreneurship activity from the most inspired and innately motivated
entrepreneur could hit the rocks. Thus, this paper has identified the various business ecological
drawbacks to the thriving of entrepreneurship in Nigeria, relying on a corpus of literature
findings, and has offered recommendations that could boost entrepreneurship development in
Nigeria.
Keywords
H Social Sciences (General), HM Sociology