Alleviating Poverty through Entrepreneurship Development
1Sam. A. Olaiya & 2Onimole, S. O.
1Department of Economics Joseph Ayo Babalola University Ikeji – Arakeji, Osun State
2Department of Entrepreneurship Joseph Ayo Babalola University Ikeji – Arakeji, Osun State
Corresponding author: Onimole, S. OEmail: onimoledayo@yahoo.com
ABSTRACT
The world is strongly divided into the rich and the poor nations. As technology develops the gap continues to widen. Poverty therefore becomes one of the “monsters” that must be fought from all its various faces. These faces include: having the face of unemployment, a gender face, face of a criminality, face of corruption, loss of human dignity, face of hunger, etc. A poor person is more likely to be unemployed; he commits crimes such as armed robbing to survive; he lacks knowledge, initiative, skills, leading to begging. To move out of this sympathetic stage, it becomes necessary to initiate possible lives of survival. One of such is through entrepreneurship development. Development is the process of improving the quality of human life. There are three very important aspects of development. One is by raising people’s level of living (their incomes and consumption levels of food, medical services, education, etc). another is by creating conditions conducive to the growth of people’s self-esteem and by increasing people’s freedom by enlarging the range of their choice variables, by increasing varieties of consumption of goods and services. Entrepreneurship development is thus one of the paths through which poverty can be fought. Entrepreneurship is a process of creating and managing a business through innovation and generating of business ideas to achieve desired objectives. It is infact a very important agent of innovation, growth and technical progress. The way forward in the fight is to participate in the diversification of the economy. Some of the ways include the development of agriculture and the agro-allied industries, small and medium industries, provision of products and services. The socio-economic implications of entrepreneurship include reduction in unemployment, acquisition of skills, educational attainment, providing new products and services, improvement on old systems – thus improving the quality of life, the improvement in the quality of life, the issue of entrepreneurship development, which is a parasea to reduction in unemployment, development in the various sub-sectors of agriculture, increase of income per capita, increase in consumption, better health services and reduction in the dependence on foreign economies through dependence and consumption of local production.
