Effective Policy Framework for Entrepreneurship Development in Nigeria
Omame Onyebuchy Bernard; Ugwu Sylvester Onuoha; Emezuo & Ojekwe Nnamdi
Scientific Equipment Development Institute, Enugu, Nigeria
Email: buchydifference@yahoo.com; ugwusylvester119@yahoo.com; emezuoo@yahoo.com; nnamdiojekwe@yahoo.com
ABSTRACT
The main purpose of this research is to find effective way through which Entrepreneurship can take it rightful place in the socio-economic economic development of Nigeria. It is intended to equip policymakers with implementable recommendations to create the most conducive and supportive environment for entrepreneurs to thrive. People must choose to leave the mentality of the corporate hierarchy to create independence economic base and chose the autonomy that owing a business offers. This study discovered that the impacts the entrepreneurship will have on the nation’s economy goes far beyond their numbers. However, there must be a resurgence of the entrepreneurial spirit to spearheading this most significant economic development in recent business history all around the world. These heroes of the new economy are introducing innovative products and services, pushing back technological frontiers, creating new jobs, opening foreign markets, and in the process, will sparkle the economy. On the other hand, government must create and implement effective policies and enabling environment to drive home this all important phenomenon in the development of our economy. In Nigeria, it suffice to say that massive unemployment as a result of irregular government policies and corruption, massive downsizing campaigns in public service and large corporations, dramatically cutting the number of managers and workers on their payroll had meted untold hardship on citizenry and on our economy. One casualty of this downsizing has been the long-standing notion of job security in government and large corporations, which all but destroyed the concept of loyalty and has made workers much more mobile. This research having under study the level of entrepreneurship in Nigeria system thereby proffer a solution to ameliorate the situation and embed this concept that is the bedrock of developed economy into our own economic system.
Keywords: Entrepreneurship, development, policy framework, government, economy
