Entreprenuership in the 21st Century: Driving Factors for Sustainable Economic Development in Nigeria

Last modified: June 30, 2021
Estimated reading time: 2 min
Project Title: Entreprenuership in the 21st Century: Driving Factors for Sustainable Economic Development in Nigeria
Author: Mr. Offor Kingsley Ifeanyi
Advisor: Dr. Tanakorn Limsarun
Degree: Master of Business Administration (International Program)
Major: General Management
Faculty: Graduate Schools
Academic year: 2020
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Published:
Conference
International Confernce on Economics, Business and Interdisciplinary Studies (ICEBIS 2019)

Citation

Ifeanyi, Offor Kingsley. (2020). Entreprenuership in the 21st century: Driving factors for sustainable economic development in Nigeria. (Independent study, Master of Business Administration). Bangkok: Siam University.


Abstract

The focus of this study was to identify problems and other issues that weigh down entrepreneurship development in Nigeria in the 21st century, and how they impact the country’s economic sustainability. The study has deployed Documentary Research methods to retrieve and review historical data and peer-reviewed articles on entrepreneurship vis-à-vis economic development in Nigeria within the past decade. Reviewed articles were obtained electronically from academic search engines: ResearchGate, Sci-Hub, Scientific Research online journal and Academia. Findings revealed that lack of entrepreneurship education, lack of startup supports such as initial capital and enabling environment, and poor government policies and support for entrepreneurship remain the most inhibiting factors affecting the development of entrepreneurship in Nigeria. The study underpinned growing concerns among economic experts and scholars that low budget entrepreneurial engagement in Nigeria exacts a lasting negative impression in the country’s economic development and sustainability, and therefore offered recommendations on how to address the problems. One major limitation of the study is the absence of quantitative data to substantiate claims, however, the established framework may serve as a guiding tool for future studies.

Keywords: Entrepreneurship in 21st Century, Sustainable Economy, Economic Development.


Entreprenuership in the 21st Century: Driving Factors for Sustainable Economic Development in Nigeria

Master of Business Administration (International Program), Siam University, Bangkok, Thailand

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