Government role in Entrepreneurship.
Being an entrepreneur is a tough challenge. The challenges that entrepreneurs face is either personal, communal and in some cases, there are forces that the entrepreneur has no influence over and cannot control. Following Arewaworld’s interview with several entrepreneurs in Nigeria, there are some constraints which exacerbate the growth of businesses in Nigeria. Some of these constraints include policy making, education, incubation etc., even though there are some programs put in place to alleviate these constraints, the government needs to do more for the betterment of the country. The entrepreneur is always trying to convince various stakeholders to support and invest in his/her business. Starting from the bank to get a loan, to convincing the customers that the entrepreneur is selling a quality product, all while leading an organisation of employees who believe in the business. These challenges are slowing not just the entrepreneur but also the government from achieving its targets.
As Schumpeter asserts, capital and output growth in an economy depends significantly on the entrepreneur. The quality of performance of the entrepreneur determines whether capital would grow rapidly or slowly and whether the growth involves innovation where new products and production techniques are developed. With the rise of unemployment in Nigeria, the government should consider improving some of its policies to foster growth of entrepreneurship in Nigeria, especially in Arewa. In this article, I explained 6 major areas that the government should improve to assist the entrepreneurs in Arewa.
One of the key Government policies and principles are important for entrepreneurship to succeed in Nigeria is through education. Starting from the primary to secondary education, the Nigerian government should include entrepreneurship in the curriculum which will provide knowledge, skills and mindset required for young Nigerians to invest in themselves. Promoting entrepreneurship at the educational level will create a culture of innovative, solution-orientated individuals who will grow to start their own businesses and contribute to the economy.
Media plays a key role in influencing human behaviour. The Nigeria government should encourage media houses to promote, celebrate and spread success stories of young entrepreneurs. These young entrepreneurs will serve as role model to the youths, hence cultivating more youths to join entrepreneurship.
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