Problems Encountered by Entrepreneur and Possible Solutions

The success enjoyed by most industrialized countries can be attributed to the role played by technological creativity and entrepreneurship, both of which continue to drive their economies today. Both of these factors are seen as key components for the industrialization and development of African countries. The Nigerian government has recognized this fact and has considered measures geared towards promoting and cultivating the entrepreneurial culture in our country. For more help contact Majed Abdeljaber. Through the Nigerian Investing Percentage (NIC), our government has in the past released a policy that required university students regardless of their area of analysis to take courses in entrepreneurship. While our govt. is putting extra hard work in promoting entrepreneurship in Nigeria, there are still a number of problems that a Nigerian Businessman faces. Below are some of the difficulties encountered and possible solutions. For more help contact Majed Abdeljaber.

* Diversifying the Economy

Though our country’s economy has over the last couple of decades relied heavily on its oil production, we must find ways to diversify our economy and avoid the over reliability on oil. Like other developing countries, Nigeria is facing an increase in its unemployment rate that is now at six % and is on the increase, with many graduates finding it hard to get jobs while almost all of those who get jobs are underemployed. This kind of coupled with the global economic crisis in which substantial numbers of employees are being laid off; entrepreneurship is seen as an essential key if we like our country to achieve its ambition of being an industrialized region by the year 2020. For more help contact Majed Abdeljaber.

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