Abstract:

            The proposal will be focusing on the entrepreneurial progress while considering the drivers and inhibitors of the business in Nigeria. Different case studies will be deemed to report authentic findings in the proposal. The main focus will be on the NTCS methodology while analyzing a case of Nigeria. The case study is a textual one, that relates with the entrepreneurship. (Wilbeck , 2017). Economy of Nigeria has been growing from the last few years, and there is a rapid change in the progress of the economy. Around 7% of the economy raises every year due to different drivers and overcoming the inhibitors. Narrative Textual case study focuses both on micro, macro, and small business enterprises. Employees also play a role as drivers to enhance the entrepreneurship practices. Different driver factors are involved in the business growth with the presence of a proper policy. The balance in the systems and other factors will be assisting in entrepreneurship growth. (Farayibi, 2016)

Introduction:

Nigeria is wellknown for its entrepreneurship opportunities, and it is also recognized as one of the most industrialized places. Different policies are present in Nigeria that focuses on the development of small to large enterprise business based on entrepreneurial growth. Nigeria, due to the presence of multiple systems, drives the entrepreneurship at a more significant extent. (Wilbeck , 2017). As per the researchbased findings, about 31 million of the Nigerians are employed due to the enhanced entrepreneurship approaches they have. Also, according to the study, 35 in every 100 Nigerians have opportunities of entrepreneurship, which means that the place has an extensive range of drivers. The drivers tends to enhance the economy of Nigeria as a whole. Entrepreneurship is about making innovations and creating opportunities to make the business reach to the next level of development. Some several inhibitors and drivers enhance the process of entrepreneurial growth while some of the factors like small, and medium enterprise business serves to be as growth inhibitors of Nigeria. Different MSME might be challenging to the economy, and some of the enterprises help to be as inhibitors. (Farayibi, 2016)

Aims and objectives:

The following are the aims and objectives on which the research is focusing:

  1. The main focus of the research is to highlight entrepreneurship in Nigeria, while considering a case study.
  2. The research will be depicting the drivers that are enhancing entrepreneurial growth in Nigeria.
  3. Research will also be figuring out the inhibitors that are coming in the way pf Nigeria entrepreneurial growth.

Scope and importance:

            Studying about the drivers and inhibitors of entrepreneurship are highly essential as Nigeria’s economy is based on entrepreneurship. Different business opportunities facilitates the employees by providing them with a range of possibilities. (Wilbeck , 2017). But still, the rate of unemployment and inflation are more substantial in comparison to the economic growth of Nigeria. The topic is of considerable significance as it defines relevant factors of economic growth and development in Nigeria and the framework of entrepreneurship. (Farayibi, 2016)

Rationale:

            The rationale of the research is to develop a complete understanding of Nigeria by focusing on the case study. The research will be highlighting both the drivers and inhibitors of Nigeria that impacts on the entrepreneurship in any way. The main reason for conducting this research is to highlight all the aspects of Entrepreneurship in Nigeria while critically analyzing it. (Farayibi, 2016)

Overview of the dissertation:

            The dissertation will be about detailed analysis of the topic while the main focus will be on the entrepreneurship and economic growth. MSMEs will be studied and analyzed in complete referring to the case studies of Nigeria. Despite this, the methodology of the research, analysis of the data and critical evaluation from the findings will be discussed along with the recommendations. Both negative and positive aspects of the investigation will be addressed. (Wilbeck , 2017)

Literature review:

            As per the previous researches, Nigeria’s economy depends on the entrepreneurship opportunities and the large business enterprises. The Center of Entrepreneurship development in the early 2000s talks about the business opportunities and their impact on the economy of Nigeria. Thaddeus in the year 2002 addressed about Nigeria’s entrepreneurship along with its development and impact on the economy of Nigeria. Industrialization in Nigeria has both inhibitors and drivers that develops an entire understanding of the economy of Nigeria. Naude in 2012 also researched the entrepreneurship of Nigeria. He discussed different dimensions of economic growth concerning the concept of entrepreneurship. (Tortora, 2018)

Research methodology:

            The research findings will be based on the secondary research. Secondary data will be analyzed in an appropriate way to develop a deep understanding of the study. For this purpose, different peerreviewed, journals are selected from the recent ten years. The selected research papers are based on the case study of Nigeria. The economy of Nigeria will be discussed by referring to different journals.

Data presentation and analysis:

            The data presentation includes a more indepth understanding of both drivers and inhibitors of Nigeria. Although there is a positive relationship between economic growth and entrepreneurship of Nigeria, but still different factors are present that function as inhibitors. The data will be analyzed as per the challenges and inhibitors. Data presentation includes a detailed discussion of the policies of Nigeria. This includes entrepreneurship firms, inhibitors, drivers, and the proactiveness. (Tortora, 2018)

Results and discussions:

            According to the secondary data analysis and findings, different factors contribute to the drivers and inhibitors of Nigeria. Nigeria’s economy depends on the entrepreneurship, and Nigeria is full of the opportunities likewise. Most of the economy of Nigeria depends on the entrepreneurship in business along with the related opportunities. The drivers that include in the entrepreneurship of Nigeria includes improved infrastructure and a higher level of enterprises, market, raw materials, labour, social factors, business market, entrepreneurship opportunities, and the institutional context. Also, the more significant enterprise business in Nigeria contributes to be as the major drivers that promote entrepreneurship in the industry. While, on the other hand, Nigeria’s entrepreneurial company also faced different challenges that comes out to be as the inhibitors in the entrepreneurship growth. The inhibitors include changes in the global economy, differences in the economic policies. The fluctuations in the economic policies presented for the business department are serves to be as inhibitors. Other inhibitors include entrepreneurship policies and sociocultural influences. (Tortora, 2018)

Conclusions and recommendations:

            Nigeria is a country with unlimited entrepreneurship opportunities, and these opportunities enhance the economy of the place. Entrepreneurial business growth is influential in the business sector of Nigeria due to the involvement of different drivers and inhibitors. Entrepreneurship development in business enhances the growth and make the environment sustainable. (Wilbeck , 2017). The fluctuations in the business environment are due to the drivers and inhibitors. Different case studies of Nigeria showed that multiple factors are involved in doing the business. Financial records of the case study shows the impact of economic policies on them. This means that the entrepreneurship business in Nigeria is not sustainable, but rather than that it has to face fluctuations that impact on the company in different ways. Socio culture impact and the changes in the economic policies serve to impact on the firms broadly. (Tortora, 2018)

Following are the set of recommendations:

  • The business firm of Nigeria must be focusing on the inhibitors that are coming in the way of sustainable growth.
  • Every business firm must analyze the business changes as per the changes in the financial records. #
  • Firm’s value chain analyzation must be a part of the entrepreneur business.
  • Both the macro and the microeconomic policies of the government must be analyzed in a better way to ponder upon the business performance. (Wilbeck , 2017)
  • Models of entrepreneurship must be a part of every business plan. (Farayibi, 2015)

Evaluation and future work:

            Evaluation of the conclusion and the research findings show that Nigeria’s entrepreneurship department is of great importance due to its robust structure. However, still, it has to face many inhibitors that come across the business development process. Low labour productivity and poor infrastructure of most of the business enterprises must be innovated as per the requirements of the market.

            The future work of the dissertation will be focusing on multiple aspects of the business sector in Nigeria. Other than this, different prominent business firms will be selected to research a better way. Also, the future work will be based on the analyzation of primary data.

Personal development:

            The entire research process development individual skills in myself that serves out to involve in m personal development. My research skills, and the critical analysis skills are highly developed in myself, and also I can critically evaluate business enterprises while focusing on the entrepreneurship skills.  (Farayibi, 2015)

 

References:

H. Abdi, L. J. W., IO. Abereijo, S. A. A., ZJ. Acs, L. S., JF. Adebisi, D. O. G., M. Agboli, C. C. U., Aliyu, S. U. R., SJ. Arthur, R. D. H., Babajide, A., B. Bird, H. W., EI. Bowale, A. A., R. Bro, A. K. S., C. Callaghan, R. V., Chukwuemeka, E., Cronbach, L., Curran, J., EE. Ene, J. C. E., S. Fattoum, A. F., Fitzgerald, R., BA. Gilbert, D. B. A., BD. Kiabel, N. G. N., SF. Kreft, R. S. S., WM. Ladzani, J. J. V., G. Larossi, G. R. C., Ligthelm, A., Ligthelm, A. A., GT. Lin, Y. C., Makinde, T., OE. Mary, U. K. E., B. Mbonyane, W. L., TA. Ngerebo, A. M., Nieman, G., F. Olawale, D. G., Oliyide, O., Otusanya, O. J., BM. Oviatt, P. P. M. D., Santos, J. R. A., S. Singh, R. S., Smith, A., Urban, B., Ward, J. L., S. Wold, K. E. and M. Wright, P. W. (2017) Government policies and entrepreneurship phases in emerging economies: Nigeria and South Africa, Journal of Global Entrepreneurship Research. Springer. Available at: https://journaljger.springeropen.com/articles/10.1186/s4049701801315 (Accessed: July 22, 2020).

ZJ. Acs, E. A., Aghion, P., Anyanwu, J. C., VY. Atiase, S. M., G. Bruton, S. K., G. George, R. K., Kuada, J., E. Lafuente, L. S., F. Lafuente, Y. V., Munemo, J., R. Ndulu, L. C., V. Ratten, P. J., M. Sheriff, M. M., C. Sutton, G. D. B. and CC. Williams, A. M.P. (2017) The national entrepreneurship framework conditions in subSaharan Africa: a comparative study of GEM data/National Expert Surveys for South Africa, Angola, Mozambique and Madagascar, Journal of Global Entrepreneurship Research. Springer. Available at: https://link.springer.com/article/10.1186/s4049701901831 (Accessed: July 22, 2020).

Wilbeck , K. S. an (2017) The Drivers and Inhibitors of Entrepreneurial Growth, Human Engineers. Available at: https://humanengineers.com/driversinhibitorsentrepreneurialgrowth/ (Accessed: July 22, 2020).

Farayibi, A. O. (2015) “Entrepreneurship as a Driver of Economic Growth: Evidence from Enterprise Development in Nigeria,” SSRN Electronic Journal. doi: 10.2139/ssrn.2852865.

Tortora, M. R. and B. (2018) Nigeria: Drivers and Challenges of Entrepreneurship, Gallup.com. Gallup. Available at: https://news.gallup.com/poll/106345/nigeriadriverschallengesentrepreneurship.aspx (Accessed: July 22, 2020).

Farayibi, A. (2016) Entrepreneurship as a Driver of Economic Growth: Evidence from Enterprise Development in Nigeria, SSRN. Available at: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=2852865 (Accessed: July 22, 2020).

 

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